Georgia takes 8th place in world economic freedom ranking
The 2020 report is based on data from 2018, which is the latest year of comparable statistics. Photo: Nino Alavidze/Agenda.ge
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Georgia has taken 8th place among 162 countries in the world in the economic freedom annual report published by the Fraser Institute.
Considered as ‘most free’ Georgia has the following ranking in the five broad areas of economic freedom:
- Size of Government – 7.86
- Legal System and Property Rights – 6.47
- Sound Money – 9.30
- Freedom to Trade Internationally – 9.02
- Regulation – 8.27
"Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives,” Fraser Institute’s Fred McMahon said.
Canada lags behind U.S. in economic freedom, China
— The Fraser Institute (@FraserInstitute) September 10, 2020
threatens Hong Kong’s top rank in annual report. https://t.co/AY1Mf2bekR
The report measures economic freedom based on regulation, freedom to trade internationally, size of government, property rights, government spending and taxation.
It says that ‘people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives’.