The Heritage Foundation published a report recently stating that Georgia‘s economy is the 12th most free in the 2021 Index.
According to the report, the overall score of the country has increased by 0.1 points, mainly due to an improvement in the score for government spending. Georgia is ranked 7th out of 45 countries in Europe, and its score is higher than the regional and global averages.
“The Georgian Economy suffered only a slight setback in its long progress to the upper ranks of mostly free category. Reforms that have been ongoing for several years to reduce corruption, simplify taxes, and cut regulations have resulted in a rise in economic freedom. To achieve a top-10 ranking will require more intensive efforts, however, to improve perceptions of government efficiency and judicial effectiveness,” the document states.
The Heritage Foundation reported that, as of December 1, 2020 1,303 deaths in Georgia had been attributed the pandemic, and that the economy was expected to contract by 5,0% for the entire year.
Georgia was ranked 6th out of 45 countries in Europe based on a report from the same organization published last year.
The Heritage Foundation is an educational and research institution whose mission it is to formulate and promote conservative policies based on free enterprise, limited governments, individual freedom and a strong nation defense.
The survey classified nations into five major categories – free (80-100), mostly-free (70-79.9); moderately-free (60-69.9); mostly-unfree (50-59.9); and repressed (0-49%).
By Ana Dumbadze
You can view the complete country report here
Related Story: 2020 Index of Economic Freedom – Georgia is 12th in the World and 6th in Europe
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