Azerbaijan is 81st in “Index of Economic Freedom” report
Baku, January 18 (AZERTAC). Azerbaijan's economic freedom score is 61.3, making its economy the 81st freest among 186 world countries in 2014.
The American Research Center The Heritage Foundation and The Wall Street Journal newspaper have published an annual ranking of countries in terms of economic freedom - Index of Economic Freedom 2014 (Index of Economic Freedom 2014).
Azerbaijan is ranked 13th out of 42 countries in the Asia-Pacific region, and its overall score is above the regional and global averages. Its overall score is 1.6 points higher than last year, reflecting improved scores in the management of public finance and property rights.
Score improvements of 10 points or more have been achieved in nine of the 10 economic freedoms, and Azerbaijan’s overall improvement of 31.3 points is the biggest gain of any country.
The Heritage Foundation experts define economic freedom as "the absence of government interference or obstruction of production, distribution and consumption of goods and services, except for the necessary protection of citizens and support freedom itself."
Analysis of economic freedom has been held by the Fund since 1995. Degree of economic freedom is calculated by the arithmetic mean of the ten indicators: business freedom, trade, financial sector, investment, labor, monetary and fiscal freedom, security of property rights, the size of the bureaucracy and the degree of protection against corruption.
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