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Armenia improves its position in economic freedom index by 2 points
ECONOMY
26.08.2021 | 17:47
According to the Heritage Foundation economic freedom index, in 2021 Armenia ranks 32nd among 178 countries, improving its position by 2 points compared to the previous year, the Armenian Ministry of Economy has said.
Armenia’s economic freedom score is 71.9, making its economy the 32nd freest in the 2021 Index. Its overall score has increased by 1.3 points, primarily because of an improvement in fiscal health. Armenia is ranked 18th among 45 countries in the Europe region, and its overall score is above the regional and world averages.
Economic freedom in Armenia has hovered between moderately free and mostly free for many years. GDP growth during the reporting period has continued to be strong. To institutionalize higher levels of economic freedom more firmly, the government needs to maintain its focus on improving judicial effectiveness and government integrity. Stronger rule of law would also have a positive impact on investment freedom.
