Economic Freedom Report: Georgia ranks 5th in world

Economic Freedom Report: Georgia ranks 5th in world

Georgia is now one of the top five most economically free countries in the world, according to a new report by the Fraser Institute.

The annual Economic Freedom of the World report, released earlier this week by the public policy research group, compared the level of economic freedom in 159 countries and territories based on size of government, taxation, rule of law, property rights, regulation, and other factors.

Georgia ranked 11th in the last report, but this year the country ranked 5th.

Georgia's Prime Minister Giorgi Kvirikashvili believed the country's leading position in the report showed the progress made in recent years, and he believed this higher ranking would be more beneficial in terms of attracting investments to the country.