What does the report say?
-The annual report Index of Economic Freedom, led by the American think tank Heritage Foundation,gave Armenia 44th place in it’s “free countries” category. The Index analyzed 186 countries, covering 12 different types of freedom, from property rights to financial freedom.
-According to this ranking, Armenia ranks before some developed countries such as Belgium and Spain.
-Regionally, the overall score decreased by 1.6 points (70.3% in 2017 to 68.7% in 2018). Globally, Armenia ranked better than last year: 78th in 2017, 44th in 2018.
Armenia’s freedom overview
-The country hits lower scores for investment and labor freedom.
-Armenia’s geographic isolation, narrow export base and monopolies make it particularly vulnerable.
-Broad simplification of business procedures has facilitated regulatory efficiency.
-Business and monetary freedom, but also tax burdens have sharply increased.
What about Armenia’s neighbors and the top 3?
-Georgia is way ahead taking 16th place.
-Turkey is ranked 58th, Azerbaijan is 67th and Iran takes 158th place.
-Two Asian countries lead the top 3. Hong Kong is number one, followed by Singapore. New Zealand takes the third place.