About Civil.ge
Eng | Geo | Rus
Last updated: 04:42 - 24 May.'17
RSS
Mobile
Twitter
Facebook
Research: Georgia’s Economic Freedom Index Improved
Civil Georgia, Tbilisi / 16 Feb.'17 / 15:19


2017 Index of Economic Freedom, Europe. Source: Heritage Foundation

According to the 2017 Index of Economic Freedom, an annual publication by the Heritage Foundation, Georgia is ranked as 13th freest economy in the world and 5th freest in Europe, falling behind Switzerland, Estonia, Ireland and the United Kingdom.

Georgia’s overall score has improved by 3.4 points since last year reaching 76 points. As a result, the country still remains in the “mostly free” category.

Georgia’s government, the report said, maintained “strong momentum” in liberalizing economic activity while “taking steps” to restore fiscal discipline.

Public debt and budget deficits "remain under control," according to the report. "Large-scale privatization has advanced, and anticorruption efforts have yielded some notable results," it added.

“Open-market policies, supported by competitively low tax rates and regulatory efficiency, have facilitated flows of trade and investment,” it also said.

The report stated that the “well-maintained” monetary stability and fiscal health has contributed to macroeconomic resilience. Nonetheless, “deeper and more rapid” institutional reforms to enhance judicial independence and effectiveness remain “critical” to ensuring further economic development.

The Index of Economic Freedom measures economic policy developments in 186 countries.

Countries are graded and ranked on a scale from 0 to 100 with 12 components of economic freedom that evaluate the rule of law, government size, regulatory efficiency, and the openness of markets.

Latest News
24 May.'17 04:42
Controversy over Moscow’s New Sokhumi-based Law Enforcement Center Continues
The “Information-Coordination Center of Internal Affairs Agencies” stirred public debate in Abkhazia.
24 May.'17 02:59
Kremlin Appoints New Envoy to Tskhinvali
Maj.Gen. Marat Kulakhmetov served as the commander of Russia’s peacekeeping forces in Tskhinvali Region.
24 May.'17 01:58
Turkish PM Meets Georgian Officials in Tbilisi
Georgian, Turkish ministers held the second High Level Strategic Cooperation Council.
23 May.'17 23:14
Georgia Hosts Trilateral Defense Ministerial
Georgian, Azerbaijani, Turkish ministers discuss cooperation, security measures for regional projects.
23 May.'17 17:32
Azerbaijani Defense Minister Visits Georgia
Zakir Hasanov met Georgian Defense Minister Levan Izoria, discussed bilateral, trilateral defense relations.
23 May.'17 16:09
German Citizen Detained in Abkhazia
Russian FSB officers detained German citizen for “illegal border crossing.”
23 May.'17 14:54
Georgian Leaders Condemn Manchester Attack
President, Prime Minister, Parliamentary Chairman issued statements following the terrorist act.
23 May.'17 12:52
Republicans, Free Democrats Mull Unification for Municipal Election
Free Democrats garnered 4.63%, while Republicans obtained 1.55% in 2016 parliamentary polls.
22 May.'17 17:11
Prosecutors Close Case against ECHR Judge’s Brother
Nona Tsotsoria said the investigation was related to her work at the European Court of Human Rights.
22 May.'17 13:59
Moscow to Establish New Law Enforcement Agency in Abkhazia
Russia signed with Sokhumi an agreement on establishing the Joint Information-Coordination Center.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
51