Baku, Azerbaijan, September 12
By Tamilla Mammadova – Trend:
According to the Fraser Institute's 2019 Annual Report on Economic Freedom of the World, Georgia improved its rating by one position compared to the previous year and ranked 12th among 162 countries, Trend reports citing the website of the institute.
The rating score of Georgia also improved compared to the previous year and amounted to 7.94 points out of maximum 10 points.
The Fraser Institute rating evaluates countries in five main areas including the size of government, protection of the legal system and property rights, currency hardness, freedom of international trade, and regulation.
Georgia is ahead of such countries as Denmark (13th place), Estonia (15th place), Lithuania (16th place), Germany (20th place), Finland (21- e place), Czech Republic (22nd place), Latvia (24th place), Austria (26th place), South Korea (33rd place), Slovakia (40th place), France (50th place), Hungary (54th place) , Croatia (56th place), Poland (59th place), Slovenia (67th place), Russia (85th place), Turkey (95th place), Moldova (97th place), and Belarus (99th place).
Georgia took 7th place last year, but later the organization changed its research methodology, so the rating changed, and Georgia took 13th place. This year, the country has advanced one step and moved to 12th place.
The Fraser Institute is a Canadian public policy think tank and registered charity. The Institute is headquartered in Vancouver, with offices also located in Calgary, Toronto, and Montreal, and ties to a global network of 80 think-tanks through the Economic Freedom Network.