The Property Rights Alliance has published its annual International Property Rights Index, in which our country occupies 116th place out of a total of 127 observed states, as announced by the Association “Multi”.
When it comes to region, BiH is ranked as 22nd country and BiH recorded a decline by – 0.2 points on the index (3.92 currently) in comparison to last year. The decline was achieved in regard to the legal and political environment and the protection of physical property. On the other hand, a modest progress was achieved regarding the protection of intellectual property (+0.14).
According to the index data, the best overall rating for property rights protection was achieved by New Zealand (8.6335), followed by Finland (8.6257), Sweden (8.6084), Switzerland (8.5614) and Norway (8.5326).
The worst rating on the basis of property rights protection have Yemen (2.7281), Venezuela (3.0566), Bangladesh (3.1170), Moldova (3.1781), Ukraine (3.4243) and Burundi (3.43).
Among the top 15 countries are Austria (8.0122), United States (8.0741) and United Kingdom (8.1292). When it comes to intellectual property, at the first place are the United States (8.7155), followed by Finland (8.6714) and Japan (8.3267). There were no major changes in the ranking when compared to last year’s report.
“The protection of property rights, specifically private property, represents the foundation of the institutional framework for achieving economic growth. Unfortunately, BiH is still lagging behind. The biggest responsibility here is in the slow and inefficient justice system,” stated Admir Cavalic, director of the Association “Multi”, which represents one of the partner organizations in issuing the International Property Rights Index.
It is interesting that, as part of this year’s Report on Ownership Rights, was published a study on the state of property rights in the countries of the Western Balkans by Admir Cavalic and Mihail Gajic. The aforementioned study was dealing with cases of Savamala (Serbia) and Fata Orlovic (BiH) as examples of systemic violation of property rights in these countries, as reported by the Association “Multi”.
(Source: FENA)
