Thursday, February 16 2017 19:42
Alina Hovhannisyan

Armenia in lead of economic freedom index among CIS members

Armenia in lead of economic freedom index among CIS members

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.

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