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Georgia is Ranked as the 8th by Economic Freedom Index in the World

Georgia is Ranked as the 8th by Economic Freedom Index in the World

Georgia is ranked as the 8th among 159 countries in the “World Economic Freedom” index of Fraser Institute, and granted the status of mostly free.

The Deputy Minister of Economy estimates achievements in the rating.

“According to 2017 Report, Georgia occupies the first place in 4 components among 159 countries worldwide. These components include: marginal tax rate, legislative restrictions on real estate sales, freedom of the bank account in foreign currency, exchange rates on black market. Georgia occupies the first position in 5 sub-components, including marginal income tax, marginal revenue tax, bank ownership status, control of interest rate and licensing”, – Nino Javakhadze told the media representatives.

As for the specific indicators, Georgia’s positions have improved in three important indicators out from 5 such as government size (improvement by 4 positions), freedom of international trade (improving by 2 positions) and regulations (improvement by 2 positions).