The country’s record in the 2018 annual Index of Economic Freedom has improved by 0.7 and is the fourth most open and unrestricted economic environment for citizens and businesses to operate in.
South African advancement comes as the result of improvements in the property rights, judicial effectiveness, fiscal health, business freedom, labour freedom, and investment freedom.
“The latter is significant coming in a year where the administration of President Cyril Ramaphosa made investment a key focal area of its work,” said Brand South Africa general manager for research Dr Petrus de Kock.
South Africa surpassed two European states, particularly Italy and Greece.
“We are pleased with the upward trend of the nation’s competitive performance, particularly since 2018 saw a declining global competiveness of the economy”.