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Wednesday, 26 October 2016


Georgia 32nd in the Index of Economic Freedom list

2009-09-28 10:33

Georgia's economic freedom score is 69.8, making its economy the 32nd freest in the 2009 Index. Its overall score is 0.5 point higher than last year due to improvements in business freedom, trade freedom, and freedom from corruption. Georgia is ranked 19th out of 43 countries in the Europe region, and its overall score is higher than the world average. - comments.


Georgia does well in business freedom, labor freedom, trade freedom, fiscal freedom, and government size. Bureaucratic regulation isn't excessive, and the labor market's flexibility and freedom are exemplary. The top income and corporate tax rates are low, as is the overall tax burden. Georgia has reduced its average tariff rate. Foreign investors have nearly full market access, with the exception of a few key sectors, the message says.

According to the source, Georgia has made significant progress in liberating its citizens from economic constraints but is still below world averages in property rights and freedom from corruption. The judicial system is still inefficient, and stepped-up corruption-related prosecutions and firings have not affected the public perception of persistent corruption, the overview concludes.


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