Georgia improves its position in ranking of Fraser Institute's Economic Freedom of World
BAKU, Azerbaijan, Sept.11
By Tamilla Mammadova – Trend:
Georgia has advanced its position in the ranking of Economic Freedom of the World published by the Fraser Institute, said the Ministry of Economy, Trend reports via Georgian media.
In the 2020 annual report, Georgia is among the highest-scoring nations and with its 8.18 points occupied 8th position.
Economic Freedom of the World: 2020 Annual Report ranked countries based on five areas – the size of government, legal structure and property rights, access to sound money, freedom to trade internationally, regulation of credit, labor, and business.
Georgia has improved its position in the following areas – legal systems and property rights, sound money.
Georgia has the highest rating in areas such as marginal tax rate, regulatory restrictions on real estate sales, freedom to hold a bank account in foreign currency, no exchange rates on the black market, financial openness, the presence of commercial banks, and control over interest rates on loans, stated the Ministry.
In the 2019 report, Georgia was in the 9th place, noted the ministry.
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