ArmInfo. According to the index of economic freedom in 2017, Armenia, gaining 70.3 points, ranked among the 180 countries in 33rd position (compared to 54th in previous year). This is the best result in the history of Armenia's in IEF list.
As the press service of the Ministry of Economic Development and investments of the Republic of Armenia told ArmInfo, among the neighboring countries only Georgia is ahead of Armenia, which has won the 13th position, while Turkey, Azerbaijan and Iran have taken 60, 68 and 155 positions respectively. Among CIS members, Armenia is in the lead, ahead of Kazakhstan (42th position), Kyrgyzstan (89), Belarus (104) and Russia (114). In the group of 45 European countries, Armenia has occupied the 19th position.
According to source, the dramatic improvement in the performance of Armenia in IEF list is due to the significant increase in levels of guarantee property rights (by 35.5 points) and freedom from government (by 6.4 points), which is the best result among the CIS countries. Armenia also tops the list of the CIS countries according to the criteria of investment freedom, business freedom, and financial freedom.
186 countries are included in the index list, and only 180 are estimated world average - 60.9, which is higher than a year ago by 0.2 points. The TOP 5 free countries are Hong Kong, Singapore, New Zealand, Switzerland and Australia, and the composition has not changed in a year.
To note, the Index of Economic Freedom (IEF) is annually determined by the American Research Institute of The Heritage Foundation and one of the largest and most influential American newspaper The Wall Street Journal. Analysis of economic freedom is held since 1995. Economic Freedom Index is calculated due to compilers of ten criteria, including the key guarantee of property rights, freedom from corruption, efficiency and transparency in public spending, free trade and labor market flexibility. Hong Kong traditionally has the first position in the ranking.