By Ayya Lmahamad
Azerbaijan ranks first in the top five countries in Europe that have significantly improved their economic freedom scores in the 2020 Index of Economic Freedom report by the Heritage Foundation.
It should be noted that this year, Azerbaijan was included in the European rather than Asia-Pacific regional rankings, and recorded a dramatic rise in economic freedom.
“Its ranking rose 16 places in the 2020 Index as a result of dramatically higher scores for business freedom, investment freedom, and fiscal health,” the report says.
Azerbaijan’s economic freedom score is 69.3, making its economy the 44th in the 2020 Index among 180 countries. The country’s overall score has increased by 3.9 points because of big gains in scores for business freedom, investment freedom and fiscal health.
Moreover, Azerbaijan ranked 24th among 45 countries in the Europe region, and its overall score is just below the regional average and well above the world average.
“Azerbaijan has made progress in its economic freedom scores since first being included in the Index in 1996,” the report reads.
The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations. The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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