In January 20, 2010, the Heritage Foundation published "2010 Index of Economic Freedom”, where Georgia ranks the 26th freest economies in the world, up from 32nd position in 2009. Georgia’s economic freedom score is 70.4 out of 100, 0.6 point higher than the last year. Georgia is ranked 14th out of 43 countries in the Europe Region and its overall score is higher than the world average. Estonia is the only Post Soviet country of the rating, which is ahead of Georgia and ranks 16th place.
The "Index of Economic Freedom” is based on the data of 183 countries, where ten components of economic freedom (Business, Trade, Fiscal Freedoms, Government Size, Monetary, Investment, Financial Freedoms, Property Rights, Freedom from Corruption and Labor Freedom), assigning a grade in each using a scale from 0 to 100, are averaged to give an overall economic freedom score for each country.
"Moving up from "partly free” status to "mostly free” category means that those economic reforms that Georgia has and continues to implement has been rewarded in many prominent international rating institutions. Being 26th freest economies and at the same time 14th in the Europe Region is particularly important in 2010 where we expect world economy to restore to the positive growth and investors to return to their dynamic investment activities. I would like to congratulate all of my colleagues with this another achievement on the road to liberal, free and open economy” commented Nika Gilauri, Prime Minister of Georgia.
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