Latvia has remained unmoved in its position in an economic freedom survey carried out by the Heritage Foundation think tank and the Wall Street Journal, while other Eastern European nations floundered.
The Baltic Course reports that Latvia remained in 56th position in the survey, the same position as in 2010's survey, although those looking to increase investment in Eastern Europe should be aware that Estonia dropped down the table.
Estonia is now ranked 16th in the survey, down two positions from the 2010 index while Lithuania is up one spot to 23rd.
According to the website, Hong Kong has consistently been the world's most free economy since the launch of the index 18 years ago.
Singapore has successfully managed to retain second place on the index with the other top ten countries including Australia, New Zealand, Switzerland, Canada, Chile, Mauritius, Ireland and the United States.
The survey points out that the countries placed between 6th and 28th are mostly free economies.
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