Georgia Ranked 7th in Economic Freedom 2018

Georgia has been ranked 7th among 162 countries in the "Economic Freedom in the World" rating carried out by the Fraser Institute, an independent non-partisan research and educational organization based in Canada. The annual overall rating was developed by the Canadian institute along with independent researchers and educational institutions from more than 100 countries.

"This positioning of Georgia in international ratings is very important. We have been improving for years; it is important that we steadily maintain our position among the freest countries in the world," said Deputy Economy Minister Ekaterine Mikabadze after the presentation of the rating.

The assessment of Georgia is a "respectable rating," she added, and an "important signal for investors and the international community."

When creating the rating, five main indicators of countries were analyzed: the size of the government; protection of property rights and court; a firm monetary policy; freedom of international trade; regulation of loans, and employment and business.

Leading in the ranking of "World Economic Freedom" in 2018 is Hong Kong, followed by Singapore and New Zealand. The top ten also includes: Switzerland, Ireland, the USA, Georgia, the Republic of Mauritius, the United Kingdom and Australia.

By Shawn Wayne