About Civil.ge
Eng | Geo | Rus
Last updated: 17:09 - 20 Feb.'17
RSS
Mobile
Twitter
Facebook
Research: Georgia’s Economic Freedom Index Improved
Civil Georgia, Tbilisi / 16 Feb.'17 / 15:19


2017 Index of Economic Freedom, Europe. Source: Heritage Foundation

According to the 2017 Index of Economic Freedom, an annual publication by the Heritage Foundation, Georgia is ranked as 13th freest economy in the world and 5th freest in Europe, falling behind Switzerland, Estonia, Ireland and the United Kingdom.

Georgia’s overall score has improved by 3.4 points since last year reaching 76 points. As a result, the country still remains in the “mostly free” category.

Georgia’s government, the report said, maintained “strong momentum” in liberalizing economic activity while “taking steps” to restore fiscal discipline.

Public debt and budget deficits "remain under control," according to the report. "Large-scale privatization has advanced, and anticorruption efforts have yielded some notable results," it added.

“Open-market policies, supported by competitively low tax rates and regulatory efficiency, have facilitated flows of trade and investment,” it also said.

The report stated that the “well-maintained” monetary stability and fiscal health has contributed to macroeconomic resilience. Nonetheless, “deeper and more rapid” institutional reforms to enhance judicial independence and effectiveness remain “critical” to ensuring further economic development.

The Index of Economic Freedom measures economic policy developments in 186 countries.

Countries are graded and ranked on a scale from 0 to 100 with 12 components of economic freedom that evaluate the rule of law, government size, regulatory efficiency, and the openness of markets.

Latest News
20 Feb.'17 17:09
Free Democrats Party Elects New Leaders
Free Democrats garnered 4.63 percent of nationwide votes in the last parliamentary elections.
20 Feb.'17 14:58
Citizens Rally in Support of Rustavi 2
Rustavi 2, Tbilisi-based television channel, is locked in an ongoing ownership dispute.
20 Feb.'17 11:21
Georgian PM Meets World’s Leaders in Munich
PM Giorgi Kvirikashvili attended the Munich Security Conference on February 17-19.
18 Feb.'17 02:45
Rustavi 2 TV Suspends Broadcasting until Sunday
The channel will resume broadcasting after its rally on February 19.
17 Feb.'17 17:25
‘Senior Cleric’ Not a Target, Prosecutors Say
The prosecutors said on February 16 that the alleged murder plot target was not the Orthodox Patriarch.
17 Feb.'17 13:31
EU-Georgia Parliamentary Association Committee Meeting in Strasbourg
The Committee expects visa-free travel to become ‘a concrete reality’ during the month of March.
16 Feb.'17 17:16
NATO-Georgia Commission Meeting in Brussels
NATO Defense Ministers decided to enhance the organisation’s presence in the Black Sea region.
16 Feb.'17 15:19
Research: Georgia’s Economic Freedom Index Improved
Georgia is ranked as 13th freest economy in the world and 5th freest in Europe.
15 Feb.'17 17:23
Defense Minister to Attend NATO-Georgia Commission
The NATO-Georgia Commission will be held on February 16 as part of the NATO Defense Ministerial.
15 Feb.'17 15:23
Defense Ministry Reinstates Conscription
Conscription was annulled in June by former Defense Minister, drawing criticism from the ruling party.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
44