Baku, Azerbaijan, Feb. 2
Azerbaijan has improved its positions in the Index of Economic Freedom-2018, compiled by the US influential think tank The Heritage Foundation.
Azerbaijan’s economic freedom score is 64.3, making its economy the 67th freest in the 2018 Index among 173 countries. Its overall score has increased by 0.7 point, with improvements in the business freedom, trade freedom, property rights and judicial effectiveness.
Openness to global trade and investment, supported by some improvements in regulatory efficiency and other factors, aided Azerbaijan’s transition to a more market-based economic system during the commodity boom.
Azerbaijan gained 53.6 points in property rights compared to 50.5 percent in 2017.
The country gained 39.9 points (33 points in 2017) in government integrity, 59.4 points (57.5 points in 2017) in government spending, 72.3 points (71.5 points in 2017) in business freedom, 74.6 points (74.4 points in 2017) in trade freedom, 60 points (50 points) – financial freedom.
Azerbaijan ranks 14th among 43 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.