AKIPRESS.COM - Kazakhstan’s economic freedom score is 63.3, making its economy the 69th freest in the 2015 Index of Economic Freedom made by The Heritage Foundation in partnership with The Wall Street Journal.

Kazakhstan's score has decreased by 0.4 point since last year, with declines in property rights and business freedom outweighing a modest combined improvement in half of the 10 economic freedoms, including trade freedom, labor freedom, and freedom from corruption.

Kazakhstan ranks 11th out of 42 countries in the Asia–Pacific region, and its overall score is above the world and regional averages.

With strong fiscal restraint, low taxes, and stabilizing monetary policy, Kazakhstan has made steady gains in economic freedom. Over the past five years, its Index score has advanced by 1.2 points with improvements in fiscal freedom, government spending, monetary freedom, and investment freedom.

Kazakhstan’s transition to a market-led economy has been steady, but further reforms are necessary to solidify past gains. Its overall investment and trade regime remains relatively closed to foreign investors compared to regional and global peers.

The judiciary lacks statutory independence and is subservient to the executive branch. Corruption is prevalent and reaches into all branches of government.

The 21st edition of the Index of Economic Freedom  evaluates economic conditions and government policies in 186 countries. Since its inception in 1995, it has tracked the progress of economic freedom around the globe and measured the impact of advancing economic liberty. As the 2015 Index shows, the precipitous decline of America’s economic freedom since 2008 has been arrested. However, the United States remains stuck in the 12th spot globally. Continuing to trail such comparable economies as New Zealand, Australia, Switzerland, and Canada, America remains only “mostly free” as it has since 2010.