2008 World Index of Economic Freedom ranked 92 in the Philippines

The Heritage Foundation and "The Wall Street Journal" published the 2008 annual Index of Economic Freedom in the world ranking, Hong Kong ranked the first 14 years in a row. Philippines ranked 92, China's first 126. The Philippines score was 56.9 points, the same as last year have, in 30 countries in the Asia-Pacific, the Philippines ranked 15th. And the Philippines in two areas of relatively good scores: freedom of trade and the size of government. Financial freedom in general, the Philippines because of the income tax and corporate tax burdens are heavy, but the tax revenue accounted for a lower proportion of GDP. Philippine lower the average tariff, but non-tariff barriers seriously. The total government expenditure on GDP accounted for 20%. Philippines in the business freedom, investment freedom, property rights and clean government, lower scores. The Philippine government on foreign investment to set up formal and informal barriers