Georgia is improving its place in the world in terms of economic freedom in the latest survey by the Heritage Foundation.
The Index of Economic Freedom survey ranked Georgia in 16th place among 186 countries after it gained 76.2 points.
The Heritage Foundation is a research and educational institution whose mission it is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom and a strong national defence.
This year Georgia gained 0.2 more points than in 2017 and was ranked 9th among 44 European countries, and its overall score is above regional and world averages.
The survey stated Georgia had shown a vast improvement in property rights as well as labour, monetary and trade freedom.
The survey divided nations into five major categories: Free (80-100), mostly free (70- 79.9), moderately free (60-69.9), mostly unfree (50-59.9) and repressed (0-49.9).
A snapshot of Georgia’s economic freedom in 2018:
- 2018 Economic Freedom Score: 76.2 (out of 100; 100 is the best outcome);
- Economic Freedom Status: Mostly Free
- Global Ranking: 16th
- Regional Ranking: 9th in Europe.
