Government of Georgia – News

Georgia ranks among the top 5 in Fraser Institute’s latest Economic Freedom of the World Print Version


Georgia ranks among the top 5 in Fraser Institute's latest Economic Freedom of the World.

In the latest survey, Georgia is up 3 spots to collect 8.26 points and rank 5th among the world's top 10 leaders.

In the 2020 survey, Georgia ranked 8th with 8.24 points.

Economic Freedom of the World Index spotlights 162 countries.

Georgia is ahead of such countries as the US (6th), Lithuania (7th), Australia (9th), Denmark (10th), the UK (12th), Estonia (13th), Canada (14th), Armenia (15th), Japan (18th), the Netherlands (19th), Latvia (20th), Finland (21st), Germany (22nd), Austria (28th), Luxemburg (30th), Belgium (45th), South Korea (47th), Slovakia (47th), France (53rd), Moldova (66th), Poland (75th), Russia (100th), Turkey (114th), Belarus (88th), Azerbaijan (121st), Ukraine (129th), and others.
The index measures in 5 key directions. Year-over-year, Georgia has improved positions in 3 of the 5.
Notably, Georgia is a top scorer (10 points) in such directions as:
Top marginal tax rate
Freedom to own foreign currency bank accounts
Non-existent black-market exchange rate
Financial openness
Freedom to own commercial banks
Freedom of foreigners to visit
Interest rate controls.

The Economic Freedom of the World Index is developed by a network of institutes spearheaded by the Fraser Institute in Canada. The index measures the degree to which the policies and institutions of countries are supportive of economic freedom. Some of data used to construct the index ratings are from such reputable external sources such as the International Monetary Fund, World Bank, World Economic Forum, and others.