Georgia’s economic freedom score is 75.9, making its economy the 16th freest in the 2019 Index of Economic Freedom by the Heritage Foundation.
Georgia now ranks 16th among 180 countries and 8th among 44 European countries, and its overall score is above regional and world averages.
“Georgia’s overall score has decreased by 0.3 point, with a sharp drop in judicial effectiveness and lower scores on government integrity and monetary freedom exceeding a big gain in financial freedom”, read the survey.
A snapshot of Georgia’s economic freedom in 2019:
- Property rights – 65.9
- Government integrity – 58.5
- Judicial effectiveness – 54.6
- Business freedom – 85.8
- Labour freedom – 76.6
- Monetary freedom – 76
- Government spending – 73.6
- Tax burden – 87.1
- Fiscal health – 93.9
- Trade freedom – 88.6
- Investment freedom – 80
- Financial freedom – 70
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.
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).
