Armenia’s ranking has registered a significant drop in this year’s World Economic Freedom 2017 report by the Fraser Institute. The country was placed 23rd in the previous report, but it has slipped all the way down to the 29th position.
Still, in this report Armenia is doing much better compared to the Global Competitiveness report, which I wrote about earlier.
The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. Forty-two data points are used to construct a summary index and to measure the degree of economic freedom in five broad areas: Size of Government, Legal System and Property Rights, Sound Money, Freedom to Trade Internationally, Regulation.
For comparison, Georgia is the 8th slot, while Azerbaijan is placed 114th.
Check out the infographic below for more.