Poland took 39th spot out of 178 in this years Index of Economic Freedom complied by The Heritage Foundation and The Wall Street Journal. Poland scored 69.3 points, 5.2 points more than last year. Hong Kong, Singapore and new Zealand lead the ranking.

“Openness to global commerce and trade, competitive taxation, and an efficient regulatory system have encouraged more dynamic and broadly based economic expansion,” a release read. Poland’s Economic Freedom Status is “moderately free,” our country opens the category.

Estonia performed the best in the CEE region, ranking eighth, followed by Lithuania (12th), the Czech Republic (21st), Latvia (36th) and Poland (39th), whereas Slovakia (56th), Hungary (58th), Slovenia (90) and Ukraine (162) were lagging behind. What’s interesting, Poland scored higher than Belgium (44th) and Greece (138th), WBJ reports.