According to the history of Index since the past 20 years, the freedom of economy in Venezuela has been deteriorating through 23.5 points with the country implying the lower country decline. Important loss has also taken place in 8 out of the total categories of 10 measured which were all inclusive of rights of properties along with openness in market area and for these the plummeted scores were 45. The efficiency of regulatory can be measured by freedom of business and stability of monetary being greatly diminished as interference in state within the grown economy.
With economies being rated as being repressed ever since 2005, the country has depicted endurance of stagnation economically and deterioration of conditions of living in the country. The prices of oil also have been driven recently into strong growth in economies but the development of economies has remained constrained severely through shortcomings of institutions (Davis et al, 2004). The law rule as well has been undermined through weak subjectivity of judiciary to interference of political framework being fragile throughout the nation.