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World Bank: Georgia Moves Up by 22 Points in Governance Index

Georgia moves up by 22 points in World Bank’s Governance Index.

According to World Bank, “Governance consists of the traditions and institutions by which authority in a country is exercised.  This includes the process by which governments are selected, monitored and replaced; the capacity of the government to effectively formulate and implement sound policies; and the respect of citizens and the state for the institutions that govern economic and social interactions among them.”

The six governance indicators include:

1) Voice and Accountability

2) Political Stability and Absence of Violence

3) Government Effectiveness

4) Regulatory Quality

5) Rule of Law

6) Control of Corruption

These aggregate indicators combine the views of a large number of enterprise, citizen and expert survey respondents in industrial and developing countries.  They are based on over 30 individual data sources produced by a variety of survey institutes, think tanks, non-governmental organizations, international organizations, and private-sector firms

According to the report, Georgia has moved up from the 97th place to the 75th in terms of Governance. In 2012 the country’s percent indicator of Governance was 54,5%. In 2014 it amounted to 64,4%.

It is worth noting that in terms of Rule of Law, Georgia is ahead of such EU contries, as Romania and Bulgaria. Moldova, Ukraine, Armenia, Azerbaijan and Russia were also behind Georgia.