BAKU, Azerbaijan, Mar. 2
By Nargiz Sadikhova - Trend:
Azerbaijan is among the most improved countries and is first in top five economic freedom gainers in Europe in the 2020 Index of Economic Freedom prepared by the Heritage Foundation, Trend reports citing the report.
Azerbaijan, which is included this year in the European rather than Asia– Pacific regional rankings, also recorded a dramatic rise in economic freedom.
Its ranking rose 16 places in the 2020 Index as a result of dramatically higher scores for business freedom, investment freedom, and fiscal health. Further improvements in areas like government integrity and judicial effectiveness will depend to some extent on the government’s willingness to undertake significant institutional and structural changes in what is still an authoritarian political and economic system.
Azerbaijan’s economic freedom score is 69.3, making its economy the 44th in the 2020 Index among a total of 180 countries, said the report. Its overall score has increased by 3.9 points because of big gains in scores for business freedom, investment freedom, and fiscal health. Azerbaijan is ranked 24th among 45 countries in the Europe region, and its overall score is just below the regional average and well above the world average.
Azerbaijan has made progress in its economic freedom scores since first being included in the Index in 1996, the report said.
For twenty-six years the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. With new resources for users and a website tailored for research and education, the Index of Economic Freedom is poised to help readers track over two decades of the advancement in economic freedom, prosperity, and opportunity and promote these ideas in their homes, schools, and communities.
The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries.