Georgia advances its position in Economic Freedom ranking
Georgia advances its position in Economic Freedom ranking
15:00, 11.09.2020

Georgia has advanced its position in the ranking of Economic Freedom of the World published by the Fraser Institute.

In 2020 annual report, Georgia is among highest-scoring nations and with its 8.18 points occupied 8th position, said the Ministry of Economy.

In 2019 report, Georgia was in the 9th place, noted the Ministry.

Economic Freedom of the World: 2020 Annual Report ranked countries based on five areas – the size of government, legal structure and property rights, access to sound money, freedom to trade internationally, regulation of credit, labour and business.

Georgia has improved its position in the following areas – legal systems and property rights, sound money.

Georgia has the highest rating in areas such as marginal tax rate, regulatory restrictions on real estate sales, freedom to hold a bank account in foreign currency, no exchange rates on the black market, financial openness, the presence of commercial banks and control over interest rates on loans, stated the Ministry.

 





Economics
Economic Freedom ranking
Fraser institute
Ministry of Economy
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