About Civil.ge
Eng | Geo | Rus
Last updated: 18:01 - 29 Mar.'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
29 Mar.'17 18:01
Russia Incensed by UNSC Discussion on Georgia
Russia’s UN Permanent Representative accused Tbilisi of harming the Geneva International Talks.
29 Mar.'17 14:51
UN Security Council Holds Discussion on Georgia
United Nations Security Council held a closed door discussion on Abkhazia and South Ossetia.
29 Mar.'17 13:08
PM Kvirikashvili Meets EU Leaders in Brussels
Georgian officials traveled to Athens and Brussels to celebrate the launch of the visa-free travel.
28 Mar.'17 20:02
In Athens, PM Kvirikashvili Stresses Georgia’s European Roots
Georgian officials traveled to Athens to mark the launch of the visa waiver to the Schengen Zone.
28 Mar.'17 16:30
EU, Georgian Officials Take to Twitter to Celebrate Georgia’s Visa-Free Travel
Georgian citizens no longer require a visa to travel to the Schengen Zone.
28 Mar.'17 16:14
Visa Waiver Boosts Georgia’s European Ambitions
‘Our ambition is to make Georgia a full member of the European Union,’ Foreign Minister said.
28 Mar.'17 13:41
Government Speaks on Safeguards against Visa-Waiver Abuse
Georgian border guards will start interviewing “in detail” all travelers heading to the Schengen countries.
28 Mar.'17 12:18
Georgia Celebrates Visa Free Travel to EU
Georgian officials travel to Athens, Brussels to mark the launch of the visa-free travel to the Schengen Zone.
27 Mar.'17 15:55
Runoff Parliamentary Vote in Breakaway Abkhazia
Independent candidates win 86 percent of Abkhaz parliamentary seats.
26 Mar.'17 02:59
Owners Willing to Hand Controlling Stakes to Rustavi 2 Staff
Much still unclear about a surprise deal.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
57