Georgia has taken 5th place among 165 countries in the world in the economic freedom annual report published by the Fraser Institute.
The most recent comprehensive data available are from 2019. Hong Kong remains in the top position. Singapore, once again, comes in second. The next highest scoring nations are New Zealand, Switzerland, Georgia, United States, Ireland, Lithuania, Australia, and Denmark", reads the report.
Last year Georgia took 8th place among 162 countries in the same report.
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’.