Fraser Institute published annual report on Economic Freedom of the World 2021. As of the report, Georgia's position has improved by 3 places compared to the previous year and it ranks on the 5th place in the global ranking. The score given to the country is determined with 8.26 out of 10 points. In the 2020 report, Georgia was on the eighth place with 8.24 points.
Rating of TOP-5 Countries:
1) Hong Kong - 8.91 points;
2) Singapore - 8.81 points;
3) New Zealand - 8.56 points;
4) Switzerland - 8.48 points;
5) Georgia - 8.24 points.
Fraser Institute evaluates the countries according to the five main criteria: Size of Government, Legal System and Property Rights, Sound Money, Freedom to the Trade Internationally and Regulations.
Namely, Georgia has a better evaluation in the following indicators: Size of Government (8.14 points instead of 8.08 points); Legal System and Property Rights (6.72 points instead of 6.65 points); Freedom to the Trade Internationally (9.12 points instead of 9.05 points). However, the report does not explain the reasons what reforms have led to this improvement.
