Georgia improved its positions in 2020 index of economic freedom

Georgia improved its positions in 2020 index of economic freedom

access_time2020-07-30 08:00:59

Georgia’s economic freedom score is 77.1, making its economy the 12th freest in the 2020 Index. Its overall score has increased by 1.2 points with noticeable improvements on all indicators related to the rule of law. Georgia is ranked 6th among 45 countries in the Europe region, and its overall score is well above the regional and world averages.

The Georgian economy continues its spectacular, seven-year run up the ranks of the mostly free. GDP has also been expanding at a healthy rate for the past five years.

Multi-year reforms to reduce corruption, cut regulation, and simplify taxes have led to upward movement in all aspects of economic freedom. A top-10 ranking will require even more intensive efforts to improve perceptions of government integrity and judicial effectiveness. A good first step to avoid controversies over judicial appointments would be legislative action to protect the independence of the judiciary.


 


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