Georgia`s Positions advanced in Index of Economic Freedom

Georgia`s Positions advanced in Index of Economic Freedom

The Fraser Institute’s 2019 Index of Economic Freedom indicates that Georgia has improved its position in the region by one place and is at the 12th position among 162 countries with the status “Mostly Free”.

The 2019 Survey is based on 2017data and evaluates the countries via the following indicators: Rule of Law, Government Size, Regulatory Efficiency, and Open Markets. Each of the main indicators unites several components.

Georgia’s overall score is 7.94 points out of 10.

The country has improved its position in Free Trade – the 3rd position in the world with a score 8.74.

Georgia has negative assessments in the following components:

Monetary stability – 76th position

Rule of Law – 6.34 points

Independent Court – 4.27 points

Property Rights – 6.19 points

Police Credibility – 7.02 points

The top 10 countries by 2019 Index of Economic Freedom:

Hong Kong,

Singapore,

New Zealand,

Switzerland,

USA,

Ireland,

The United Kingdom,

Canada,

Australia.

According to the survey, Russia ranks 85th and China 113th positions among 162 countries.

It is noteworthy that the world economic freedom index increased on average from 4.96 to 6.90 points from 1950 to 2017.

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