19 September 2008, 11:56
Georgia rated 40th in the world by economic freedom
According to the research conducted by the Cato and Fraser Institutes, Georgia was ranked 40th in the world by the parameter on economic freedom. The authors' partner in Georgia was the New Economic School.
The "News-Georgia" Agency reports that in the 2008 research, based on 2006 data, Georgia has scored 7.18 points out of 10 possible. In the research of 2007, based on 2005 data, Georgia scored 6.52 points and was ranked 73rd.
The year book named "The Economic Freedom of the World" gives the rating of the economic freedom of the countries of the world on the basis of the indicators of how certain countries and their state institutes maintain the economic freedom in their territories. Basic elements for measuring the economic freedom are as follows: opportunities of personal choice, free trade and exchange, freedom of competition and support of private ownership.
This year, the 12th year book "The Economic Freedom of the World" was published containing data about 141 countries of the world for 2006. In this year's report Hong Kong preserved its leadership with 8.94 points out of possible 10, and the group of leaders in economic freedom also includes Singapore, New Zealand, Switzerland, Great Britain, Chile, Canada, Australia, USA and Ireland.
