Tweet
ARMENIA'S RANKING DROPS TO 41ST IN 2014 INDEX OF ECONOMIC FREEDOM: HERITAGE FOUNDATION
YEREVAN, January 14. /ARKA/. Armenia is the 41st among 187 countries
in the 2014 Index of Economic Freedom, says the Heritage Foundation's
report.
Last year Armenia placed the 38th among 177 countries in the index.
According to the report, Armenian economy score dropped by 0.5 points
to 68.9 compared to the last year. The Heritage Foundation experts
say the decline is recorded due to worsened indicators of investment
freedom, entrepreneurship freedom and financial freedom.
The countries are considered not free at all if they get less than 50
points, mostly not free if they have from 60 to 70 points, relatively
free - with 60-70 points, mainly free with 70-80 points and free if
they get above 80 points.
In terms of economic freedom Armenia placed 18th among 43 countries
of the European region.
According to Heritage Foundation report, Armenia got 83.1 points for
entrepreneurship freedom, 85.5 points for trade freedom, 86.5 points
for fiscal freedom, 81.3 points for state spending, 77 points for
monetary freedom, 70 points for investment freedom, 70 points for
financial freedom, 30 points for ownership rights, 26.7 points for
freedom from corruption and 78.5 points for labor freedom.
Over the 20 years of the index Armenia improved its ranking by 26.7
positions.
Yet, the experts say, substantial problems still exist, particularly,
deeper institutional and system reforms are required to help strengthen
the basis for economic freedom. Protection of property rights and
freedom from corruption are below the international standards and
legal framework is still weak in Armenia, experts say.
Hong Kong (90.1 points), Singapore (89.4 points) and Australia
(82 points) topped the 2014 Index of Economic Freedom followed by
Switzerland (81.6 points) and New Zealand (81.2 points). Georgia was
the 22nd (leading in the South Caucasus region), Azerbaijan the 81st
and Russia placed 140th.
The Index of Economic Freedom takes a broad and comprehensive view of
country performance, measuring 10 separate areas of economic freedom.
Some of the aspects of economic freedom that are evaluated are
concerned with a country's interactions with the rest of the world-for
example, the extent of an economy's openness to global investment or
trade. Most, however, focus on policies within a country, assessing
the liberty of individuals to use their labor or finances without
undue restraint and government interference. -0-- - See more at:
http://arka.am/en/news/economy/armenia_s_ranking_drops_to_41st_in_2014_index_of_e conomic_freedom_heritage_foundation/#sthash.sbIwitvE.dpuf
YEREVAN, January 14. /ARKA/. Armenia is the 41st among 187 countries
in the 2014 Index of Economic Freedom, says the Heritage Foundation's
report.
Last year Armenia placed the 38th among 177 countries in the index.
According to the report, Armenian economy score dropped by 0.5 points
to 68.9 compared to the last year. The Heritage Foundation experts
say the decline is recorded due to worsened indicators of investment
freedom, entrepreneurship freedom and financial freedom.
The countries are considered not free at all if they get less than 50
points, mostly not free if they have from 60 to 70 points, relatively
free - with 60-70 points, mainly free with 70-80 points and free if
they get above 80 points.
In terms of economic freedom Armenia placed 18th among 43 countries
of the European region.
According to Heritage Foundation report, Armenia got 83.1 points for
entrepreneurship freedom, 85.5 points for trade freedom, 86.5 points
for fiscal freedom, 81.3 points for state spending, 77 points for
monetary freedom, 70 points for investment freedom, 70 points for
financial freedom, 30 points for ownership rights, 26.7 points for
freedom from corruption and 78.5 points for labor freedom.
Over the 20 years of the index Armenia improved its ranking by 26.7
positions.
Yet, the experts say, substantial problems still exist, particularly,
deeper institutional and system reforms are required to help strengthen
the basis for economic freedom. Protection of property rights and
freedom from corruption are below the international standards and
legal framework is still weak in Armenia, experts say.
Hong Kong (90.1 points), Singapore (89.4 points) and Australia
(82 points) topped the 2014 Index of Economic Freedom followed by
Switzerland (81.6 points) and New Zealand (81.2 points). Georgia was
the 22nd (leading in the South Caucasus region), Azerbaijan the 81st
and Russia placed 140th.
The Index of Economic Freedom takes a broad and comprehensive view of
country performance, measuring 10 separate areas of economic freedom.
Some of the aspects of economic freedom that are evaluated are
concerned with a country's interactions with the rest of the world-for
example, the extent of an economy's openness to global investment or
trade. Most, however, focus on policies within a country, assessing
the liberty of individuals to use their labor or finances without
undue restraint and government interference. -0-- - See more at:
http://arka.am/en/news/economy/armenia_s_ranking_drops_to_41st_in_2014_index_of_e conomic_freedom_heritage_foundation/#sthash.sbIwitvE.dpuf