Canada’s economic freedom score is 79.1, making its economy the 6th freest in the 2015 Index. Its overall score is 1.1 points lower than last year, with modest improvements in monetary freedom and the control of government spending outweighed by declines in labor freedom and freedom from corruption. Canada continues to be the freest economy in the North America region.
Over the past five years, Canada’s economic freedom score has declined by 1.7 points, highlighting a trend that has pushed the country into the “mostly free” category for the first time since 2007. Score declines have been spread over five of the 10 economic freedoms, with an increase in the level of perceived corruption contributing the most to the moderate slide in Canada’s score.
Nonetheless, Canada remains one of the world’s most stable business climates and an attractive investment destination. With the world’s second-best property rights regime buttressing openness to global commerce, Canada has a solid foundation of economic freedom. The financial sector is competitive, and its efficiency is supported by prudent lending practices and sound oversight.