Azerbaijan leaves 80 countries behind in Index of Economic Freedom
Azerbaijan, Baku, Jan. 13 / Trend , I.Khalilova/
Azerbaijan has improved 2.6 points to 58 points in the Index of Economic Freedom - 2009 by the Heritage Foundation. Azerbaijan was ranked 99th in the rating.
According to the Heritage Foundation, Azerbaijan's economy is freer than Moldova's (120th), Tajikistan's (122nd), Russia's (146th), Ukraine's (152nd), Turkmenistan's (169th). Hong Kong topped the rating again this year with a rating of 90 points. The following criteria were taken into account when developing the Index of Economic Freedom: trade; monetary and taxation policies; state impact on the economy; investments; financial services; price regulation; property rights; and the black market. A 100-point scale was used to develop the rating that covered 179 countries. Hong Kong was followed by Singapore, Australia, Ireland, New Zealand, the U.S., Canada, Denmark, Switzerland and the UK. Former Soviet countries were ranked among world leaders on many criteria. The rating's authors claim that a free economy and fewer barriers for business and entrepreneurship improve welfare and reduce unemployment.
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