Chile’s economic freedom score is 79, making its economy the 7th freest in the 2013 Index. Its overall score is 0.7 point better than last year, mainly due to improved scores in investment and business freedoms. Continuing to be one of the 10 freest economies in the Index, Chile enjoys the highest degree of economic freedom in the South and Central America/Caribbean region.
Chile continues to be a global leader in economic freedom. With the rule of law strongly maintained by an independent and efficient judicial system, prudent public finance management has kept public debt and recent budget deficits under control.
Flexibility and openness have equipped Chile’s small economy with an impressive capacity to adjust to external shocks, and its active participation in the Trans-Pacific Partnership negotiations reflects its strong commitment to trade liberalization. Facilitating entrepreneurial activity, sound policy choices grounded in a strong commitment to economic freedom have ensured economic dynamism. The investment code is conducive to long-term growth, and the financial sector remains competitive.