Economy and democracy take a hit in Singapore

Desperate times call for desperate measures, says a friend of mine. Singapore’s senior minister Goh Chok Tong seems to agree.

The Financial Times in fact reports that the southeast Asian state is ready to tap into its cash reserves in order to fund investment into the economy. Singapore’s economy is expeced to go down by 3% this year.

However,  the artcle also reports that the government is also prepared to tighten laws making public protests a criminal act in a bid to curb efforts of a major Singapore opposition party.

This is shameful. You do not invest in the economy while dvesting people of their freedom of expression.

It is time civil society and states speak out in favour of democracy in Singapore.

Botswana enjoys greater economic freedom than Malta – report says

Botswana and Georgia enjoy greater economic fredom than Malta, a study carried by the Heritage Foundation and Wall Street Journal shows.

In the 2009 version of the report released today, Malta is termed as a moderately free economy, classifying 46th from 179 countires with corruption, the size of government spending and taxation seen as hindering Malta’s economic freedom.

From the report:

Challenges to overall economic freedom in Malta include burdensome taxation, a high level of government spending, and rigid labor regulations. 

The report on corruption:

Corruption is perceived as present […] Malta still lacks a comprehensive anti-corruption strategy, as well as appropriate institutions to implement and monitor anti-corruption activities in the public sector and specific areas of law.

The report also shows that Malta’s economy was freer in 2002 than today.

The report also shows that Hong Kong, Singapore and Australia are the most free economies in the world. The UK and Ireland are the only EU states classifying in the top ten with the worst performer for the 27-state bloc being Italy, in 76th place.