Georgia is among the top five world leaders in the Fraser Institute’s new World Economic Freedom rating.
In the new ranking, Georgia advanced by 3 positions and took 5th place in the top ten of the world leaders with 8.26 points. In the 2020 report, Georgia was in the 8th position with 8.24 points.
The World Economic Freedom rating ranks 165 countries. Regarding which, Georgia is ahead of countries such as the USA (6th), Lithuania (7th), Australia (9th), Denmark (10th), Great Britain (12th), Estonia (13th). , Canada (14th), Armenia (15th), Japan (18th), Netherlands (19th), Latvia (20th), Finland (21st), Germany (22nd), Austria (28th), Luxembourg (30th), Belgium (45th), South Korea (47th), Slovakia (47th), France (53rd), Moldova (66th), Poland (75th), Russia (100th), Turkey (114th), Belarus (114th), Azerbaijan (121st), Ukraine (129th) and others.
The rating rates countries in five main areas. Georgia has improved its position in 3 out of 5 indicators compared to the previous year. In particular, Georgia has a better assessment in the following indicators:
- Size of Government – 8.14
- Legal System and Property Rights – 6.72
- Freedom to Trade Internationally – 9.12
By Ketevan Skhirtladze