Fraser Institute report: Georgia 5th in world in terms economic freedom
Last year Georgia took 8th place among 162 countries in the same report. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
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.
Considered as ‘most free’ Georgia has the following ranking in the five broad areas of economic freedom:
- Size of Government – 8.14
- Legal System and Property Rights – 6.72
- Sound Money – 9.18
- Freedom to Trade Internationally – 9.12
- Regulation – 8.16
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’.
Georgia 12th in world and 6th in Europe
Georgia’s economic freedom score is 77.1, making its economy the 12th freest in the 2020 Index of Economic Freedom by the Heritage Foundation.
Georgia has taken 8th place among 162 countries in the world in the economic freedom annual report published by the Fraser Institute.
Georgia has moved one step forward on the rankings of countries based on the Economic Freedom of the World index published by the Fraser Institute.
Georgia has improved its place in the world in terms of economic freedom in the latest survey by the Fraser Institute.
Georgia has shown an improvement in the World Bank's recent study Worldwide Governance Indicators (WGI) of 2020 in terms of political stability and absence of violence and regulatory quality compared to the results of 2019. Georgia received 30.66% from the total 100% scale for political stability and absence of violence.
The Georgian Government is aiming to achieve the country being listed in the top five of all major global rankings in the coming years, Prime Minister Irakli Garibashvili told the Parliament on Wednesday.
Georgia moved up 10 places in the Economic Freedom of the World annual report, published on Tuesday by the Fraser Institute, ranking 15th among 165 countries of the world and seventh in Europe.
Georgian Parliament Speaker Shalva Papuashvili on Saturday said the Fraser Institute's Economic Freedom of the World 2023 report ranked Georgia 15th in Europe and 25th in the world, being ahead of 19 NATO members, 16 European Union member states and all EU candidate countries.