10 Most Conservative Countries in the World and their Economic Development

1. Mexico

Personal Income Tax Rate (2023): 10%

Corporate Tax Rate (2023): 15%

Annual Social Assistance Spending as a percentage of GDP (2019-2020): 1.62%

Insider Monkey rating: 0.133 out of 1

Mexico ranks 1st on our list of the most conservative countries in the world. According to the IMF, it reports a GDP per capita of $24,980 and a GDP growth of 3.2%. From 2019 to 2020, Mexico spent an annual 1.62% of its GDP on social welfare, as reported by the World Bank. It has a personal income tax rate of 10% and a corporate tax rate of 15%.

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