According to the 2016 index Portugal this year had 65.1 points, 0.2 less than last year, but 2.1 more than in 2012. It is in the group of countries deemed to be "moderately free".

Among the 44 countries in Europe, Portugal places 30th this year.

The authors of the study for which the index is calculated highlight as notable successes the trade and business freedom in Portugal, but express concerns about the management of public finances and employment freedoms.

"The Portuguese economy benefited from the recent structural reforms," it states, arguing that nevertheless "the indebted public sector is still a brae on the dynamism in the economy as a whole".

The study has Hong Kong and Singapore as once more the two freest economies, followed by New Zealand, Switzerland, the United Arab Emirates, Mauritius, Jordan, Ireland and Canada with the UK and Chile tied for 10th place.

At the bottom of the table are Angola, Zimbabwe, Central African Republic, Algeria, Argentina, Syria, Chad, Libya, Republic of Congo and, bringing up the rear, Venezuela.