ARMENIA IN 31ST PLACE AMONG 179 COUNTRIES BY LEVEL OF ECONOMIC FREEDOMS
Noyan Tapan
Jan 14, 2008
YEREVAN, JANUARY 14, NOYAN TAPAN. By the results of an annual research
conducted by the Heritage Foundation and "The Wall Street Journal",
Armenia is in 31st place among 179 countries by the level of economic
freedoms. As Radio Liberty reported, there were no significant changes
in Armenia’s indices as compared with last year.
The research authors evaluate all the states on a scale from 0 to 100,
taking into account 10 indices, such as investment freedom, business
freedom, freedom from corruption.
This year Armenia received 69 points out of the 100 possible as
compared with 70 points in 2008. Thus our country is in the group of
states with a moderately free economy, occupying the highest place
among CIS countrties.
Georgia is 32nd, Azerbaijan is 99th, while Russia is 146th by the
level of economic freedoms.
As regards concrete indices, based on official statistical data
and the provisions in the legislative acts on national economy,
the U.S. analysts have assessed Armenia’s business environment
quite highly. Armenia has high indices on investment making and free
movement of labor force. At the same time, according to U.S. experts,
the weaknesses of the country are related to inviolability of the
right of private property and corruption, with the respective points
making 35 and 30.
Armenia, along with Georgia and Lithuania, was pointed out as one of
the countries with most impressive economic indices. The report says
that in the past 13 years these three countries have supassed more
than half of the world’s states by their economic indices. According
to the report’s authors, in 1996-2008, the average growth of GDP per
capita made 8% in Armenia, Georgia and Lithuania.