Economic Freedom of the World report: Georgia 15th in world, 7th in Europe
Georgia moved up 10 places in the Economic Freedom of the World annual report, published on Monday by the Fraser Institute, ranking 15th among 165 countries of the world and seventh in Europe. Photo: EBRD
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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.
The overall score of Georgia in the latest update of the report was 7.78. The highest scoring nations were Hong Kong (8.59), Singapore (8.48) and Switzerland (8.37).
Placed in the category of “most free” states, Georgia has also been given the following ranking in the five broad areas of economic freedom:
- Size of Government – 7.40
- Legal System and Property Rights – 6.33
- Sound Money – 8.74
- Freedom to Trade Internationally – 8.67
- Regulation – 7.40
The report measures economic freedom based on regulation, freedom to trade internationally, size of government, property rights, government spending and taxation.
Its categorisation of measured freedoms says people in countries with “high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives”.
Prime Minister Irakli Garibashvili on Monday addressed the Georgia-China Business Forum in Beijing and described his country’s economy as the “fastest growing” in the world, while also saying the domestic inflation in June had amounted to only 0.6 percent.
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 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 comes in second. The next highest scoring nations are New Zealand, Switzerland, Georgia, United States, Ireland, Lithuania, Australia, and Denmark.
Georgia has taken 8th place among 162 countries in the world in the economic freedom annual report published by the Fraser Institute.
Georgia’s National Intellectual Property Centre on Wednesday said the country had advanced to the 65th place in the World Intellectual Property Organization’s Global Innovation Index and credited the “recent push in innovation-oriented policies” for the outcome.
Georgia’s National Intellectual Property Centre on Friday said the country had advanced to the 66th place in the Property Rights Alliance’s International Property Rights Index and gained “international recognition” on its improvement of intellectual property protection.