Azerbaijan gets low economic freedom rating
Azerbaijan's economy is 55.3% free, which makes it the world's
106th freest economy, a US think-tank estimates.
The 2008 rating edged up one point compared to the previous one although the South Caucasus republic remains among countries lacking economic freedom, says a report of the Heritage Foundation assessing 162 countries published on Tuesday.
Hong Kong has topped the global index for 14 consecutive years, with 90.3%. Singapore came in second again, with 87.4%, followed by Ireland (82.4%). Also in the top ten are Australia, USA, New Zealand, Canada, Chili, Britain and Denmark.
Among the former Soviet republics, Baltic state Estonia was rated best - 11th, while Lithuania ranked 25th, Armenia 27th and Georgia 31st.
Azerbaijan was surpassed by Central Asian states Kyrgyzstan and Kazakhstan (69th and 75th respectively), while Moldova ranked 88th.
As before, Cuba and North Korea were rated as the least free economies in the world.
The annual rating is based on 10 indicators pertaining to economic, trade and financial freedoms as well as the extent of government regulation, business and fiscal freedom.
Azerbaijan ranked 18th out of 30 countries in the Asia-Pacific region. The challenges of the transition economy include financial freedom, investment freedom, property rights, and corruption. The country received 61.6% on business freedom compared to 58% last year, while on trade freedom - 78.4% (67.6% in 2006) and fiscal freedom 80.4% (compared to 87.2%). Azerbaijan was rated at 30% on investment and financial freedoms.
The 2008 rating edged up one point compared to the previous one although the South Caucasus republic remains among countries lacking economic freedom, says a report of the Heritage Foundation assessing 162 countries published on Tuesday.
Hong Kong has topped the global index for 14 consecutive years, with 90.3%. Singapore came in second again, with 87.4%, followed by Ireland (82.4%). Also in the top ten are Australia, USA, New Zealand, Canada, Chili, Britain and Denmark.
Among the former Soviet republics, Baltic state Estonia was rated best - 11th, while Lithuania ranked 25th, Armenia 27th and Georgia 31st.
Azerbaijan was surpassed by Central Asian states Kyrgyzstan and Kazakhstan (69th and 75th respectively), while Moldova ranked 88th.
As before, Cuba and North Korea were rated as the least free economies in the world.
The annual rating is based on 10 indicators pertaining to economic, trade and financial freedoms as well as the extent of government regulation, business and fiscal freedom.
Azerbaijan ranked 18th out of 30 countries in the Asia-Pacific region. The challenges of the transition economy include financial freedom, investment freedom, property rights, and corruption. The country received 61.6% on business freedom compared to 58% last year, while on trade freedom - 78.4% (67.6% in 2006) and fiscal freedom 80.4% (compared to 87.2%). Azerbaijan was rated at 30% on investment and financial freedoms.
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