Economy 13:00 17/02/2017 Armenia

Armenia records essential progress in the 2017 Index of Economic Freedom

Armenia has secured 21-position jump in the 2017 Index of Economic Freedom, released by the US-based Heritage Foundation. It has been ranked 33rd globally on the list. To note, in the previous edition of the Index of Economic Freedom, Armenia ranked 54nd scoring 67.1 points, again topping the list of the CIS countries.

The Index analyses economic policy developments in 180 countries. Countries are graded and ranked on 12 measures of economic freedom that evaluate the rule of law, government size, regulatory efficiency, and the openness of markets.

Among the CIS countries Armenia is in the leading spots in investment, business and financial freedom parameters, while in Europe the country is placed 19th among 49 countries, leaving ahead only Georgia. 

The report indicates that the considerable diversification of Armenia’s economic base has increased economic dynamism, and a decade of strong economic growth has reduced poverty and unemployment rates. “Broad simplification of business procedures has facilitated regulatory efficiency. After years of expansionary fiscal policies, efforts have been made to limit the cost of government through more prudent management of public finance,” reads a part of the country assessment, adding despite progress in tackling corruption, particularly in the tax and customs administrations, close relationships within political and business circles raise concerns about cronyism and undue influence.

According to the 2017 Index of Economic Freedom, Hong Kong tops the list, while Singapore and New Zealand are in the second and third positions. Others in the top 10 are: Switzerland (4th), Australia (5th), Estonia (6th), Canada (7th), UAE (8th), Ireland (9th) and Chile (10th).



Source Panorama.am
Share |
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

13:01
Artavazd Theatre Award to be dedicated to Edgar Elbakyan’s 90th birthday anniversary
Artavazd Annual Theatre Award Ceremony is set to be held at Gabriel Sundukyan State Academic Theatre on March 27, World Theatre Day. This year...
12:23
President Sargsyan pays tribute to memory of Andranik Margaryan
On the 10th anniversary of the demise of the state and political figure, former Prime Minister Andranik Margaryan, Armenia's President Serzh...
12:03
Truck crashes on Lars road
According to the information received from the Crisis Management Centre of South Ossetia, a road traffic accident has occurred on...
11:44
Legendary Armenian-American jazz pianist Avo Uvezian dies at 91
Legendary Armenian-American jazz pianist and cigar manufacturer Avo Uvezian passed away on March 24, two days after his 91st birthday,...
10:59
German bank accidentally transfers $5.4 billion to four other banks
Germany’s state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman...
10:40
Armenian gymnast Artur Tovmasyan wins gold at Gymnastics World Cup
Gymnastics World Cup Series is underway in Doha. The final series took place yesterday. As the National Olympic Committee of Armenia told...
10:23
NKR Defense Army: Azerbaijani forces fire more than 220 shots towards Armenian positions
Azerbaijani forces broke the ceasefire across the Line of Contact between Nagorno-Karabakh Republic (Artsakh/NKR) and Azerbaijan 40 times,...
20:43
Armenia’s FM receives OSCE Minsk Group U.S. Co-Chair
On March 24, Foreign Minister of Armenia Edward Nalbandian received Richard R. Hoagland, the U.S. Co-Chair of the OSCE Minsk Group, the Press...
20:32
11 cases of infliction of bodily injuries registered in Armenia in one day
According to the operations reports of Police of the Republic of Armenia, 9 out of 11 cases of infliction of bodily injuries registered in the...
20:25
Consultations held between the Ministries of Foreign Affairs of Artsakh and Armenia
On March 24, regular consultations between Artsakh (Nagorno-Karabakh Republic/NKR) and Armenian Foreign Ministries took place. From the Artsakh...
20:17
TB morbidity and mortality rates decreased in Armenia, experts say
“We have registered quite a good situation in Armenia in terms of the control over tuberculosis (TB) regarding both the detection of new...
19:24
Armenian athlete becomes runner-up at European Powerlifting Championships
At the European Powerlifting Championships held in Thisted Denmark, member of the Armenian national powerlifting team Sergey Asaturov (74 kg)...
18:59
Prominent Russian-Armenian test pilot Stepan Mikoyan dies at 95
Prominent Russian-Armenian test pilot, Lieutenant-General of the aviation Stepan Mikoyan has passed away at the age of 95, Panorama.am reports...
18:36
Syrian factor prompted heating up of Turkey’s rhetoric over the Crimea, turkologist says
The conflict between Turkey and the Crimea, which until recently could only be labelled “Where to go on vacation” gradually becomes...
17:23
OSCE PA’s Sanchez Amor and Bekkevold to lead election observers in Armenia
The OSCE parliamentarians will observe the upcoming parliamentary elections in Armenia and provide leadership for the OSCE’s short-term...
17:15
Fire breaks out in Yerevan school, 330 evacuated
A fire has broken out in a school located at 100 Bashinjaghyan Street of Yerevan, Armenia. Armenia’s Ministry of Emergency Situations...
16:51
Gallup polls indicate significant decline in EAEU rating in Armenia
Armenian representation of the Gallup International Association has addressed the question “Which path of integration is more preferable...
16:14
Armenia’s PM Karen Karapetyan to pay official visit to Turkmenistan
On March 27, a government delegation led by Armenia’s Prime Minister Karen Karapetyan will be off to Turkmenistan for a two-day official...
16:07
Tatev Abrahamyan, Varuzhan Hakobyan to take part in U.S. Chess Championships
The 2017 U.S. Men’s and Women’s Chess Championships will kick off on March 29 with Armenian chess payers Tatev Abrahamyan and...
15:33
Former president of Latvia sees great potential in deepening Armenia-Latvia relations
In the framework of the visit paid to Latvia, the RA Ambassador to Lithuania Tigran Mkrtchyan held a meeting with Ex-President of the country...
15:14
Academician Vladimir Barkhudaryan passed away
Armenian historian, Honored Worker of Science of the Republic of Armenia, academician at the National Academy of Sciences Vladimir Barkhudaryan...
14:43
Armenia plans a nationwide clean-up campaign in the scope of Earth Hour initiative
Armenia is set to join Earth Hour global campaign to take place on Saturday, March 25 from 20:30 to 21:30, Deputy Head of Bioresources...
13:48
Henrikh Mkhitaryan receives player of the year award for the seventh time
Armenian national team captain and Manchester United's midfielder Henrikh Mkhitaryan received the Armenian Player of the Year award for the...
13:21
The ruling Republican Party leads in new Gallup polls ahead of the April 2 parliamentary elections
Armenian representation of the Gallup International Association has conducted the second opinion polling to gauge voting intentions in the...
12:32
Armenian figure skaters to struggle for Olympics qualification
The 2017 World Figure Skating Championships kick off in Helsinki, Finland on March 29 with Armenian athletes represented in three events....
12:09
World oil prices continue rising
As a result of e-commerce in London and New York stock exchanges, the oil prices are rising, Gazeta.ru reports. According to the source, the...
11:55
First female fighters in Karabakh depicted in Lena Mucha’s photos
The Washington Post has published photos of female militaries who have decided to challenge the traditional gender roles and pick up arms...
11:54
3,091 Russians visited Armenia on internal passports in one month
3,091 Russian citizens visited Armenia on internal passports within one month, as the agreement to ease rules for Russian nationals coming to...
11:00
World Tuberculosis Day observed on March 24
World Tuberculosis Day (TB Day) is observed on March 24 which is one of eight official global public health campaigns marked by the World Health...
10:26
NKR Defense Army: Azerbaijani forces break the ceasefire 40 times
The Azerbaijani forces broke the ceasefire across the Line of Contact between Nagorno Karabakh and Azerbaijan 40 times overnight to March 23-24,...

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}