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.

Agenda.ge, 14 Sep 2021 - 12:59, Tbilisi,Georgia

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’.

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