Azerbaijan among top five countries in Europe with improved index of economic freedom


March 3, 2021 10:42 am (UTC + 04:00 am)

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By Ayya Lmahamad

Azerbaijan ranks first among the top five countries in Europe that have significantly improved their economic freedom scores in the Heritage Foundation’s 2020 Index of Economic Freedom report.

It should be noted that this year, Azerbaijan was included in the European regional rankings rather than Asia-Pacific, and recorded a dramatic increase in economic freedom.

“Its ranking increased 16 places in the 2020 index due to significantly higher scores for freedom of business, freedom of investment and fiscal health,” the report said.

Azerbaijan’s economic freedom score is 69.3, making its economy 44th in the 2020 index out of 180 countries. The country’s overall score increased by 3.9 points due to significant gains in the scores of business freedom, investment freedom and fiscal health.

In addition, Azerbaijan ranked 24th out of 45 countries in the Europe region, and its overall score is just below the regional average and well above the world average.

“Azerbaijan has improved in its economic freedom scores since it was first included in the index in 1996,” the report read.

The Index of Economic Freedom is an annual index and ranking created in 1995 by the Heritage Foundation and the Wall Street Journal to measure the degree of economic freedom in nations around the world. The index covers 12 freedoms – from property rights to financial freedom – in 186 countries.

Ayya ​​Lmahamad is the reporter for AzerNews, follow her on Twitter: @AyyaLmahamad

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