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Economic Freedom of the World report: Georgia 15th in world, 7th in Europe

21 September 2023 20:35 (UTC+04:00)
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 Tuesday by the Fraser Institute, ranking 15th among 165 countries of the world and seventh in Europe, Azernews reports, citing Agenda.

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”.

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