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Georgia's rankings in international economic development ratings

Georgia's rankings in international economic development ratings
Georgia's rankings in international economic development ratings

A high level of democracy and freedom of media represent the prerequisites for a country to follow a stable and long-term economic development path. Today, the globalization level is high, and the economic borders only are formal. International business and capital no longer have limits. Thus, countries compete to offer better opportunities for potential investors. Global ratings work to compare the possibilities and efficiency of government efforts as well.

Georgia in the Economic Freedom Index of The Heritage Foundation -

The Economic Freedom Index of the Heritage Foundation assesses the economic freedom of a country according to the rule of law, size of the government, the efficiency of regulations, and open markets. Georgia ranked the 16th in this rating in 2018. In 2019, its point decreased by 0.3, but it still maintained the 16th place among 180 countries. Georgia's lowest scores are in the section of the rule of law. Hong Kong ranks first in the rating. 

Georgia in the Doing Business Rating -1

The World Bank publishes the business simplicity (Doing Business) rating and assesses countries according to ten criteria, like the business simplicity, taxes, availability of loans, and property registration.Georgia ranked the sixth in this rating in 2018, but it reached the third place in 2019 among 190 countries. Georgia has the lowest score in the simplicity of closing the business. New Zealand ranks first in the rating.

Georgia in the Global Competitiveness Index - 8

The Global Competitiveness Index is a report annually published by the World Economic Forum. It evaluates countries according to 114 criteria that imply direct interviews of entrepreneurs. Georgia ranked the 66th in 2018 while it is on the 74th place (among 141 countries) according to the 2019 data. Singapore ranks first in the rating. 

Georgia in the International Property Rights Index +4

The International Property Rights Index (IPRI) is the flagship publication of the Property Rights Alliance. The IPRI scores the underlining institutions of a robust property rights regime: the legal and political environment, physical property rights, and intellectual property rights. Georgia was 78th in the rating in 2018 while it ranked 70th according to the 2019 data (among 129 countries). Georgia has the lowest score in the protection of intellectual rights, judiciary independence, and political stability. Finland ranks first. 

Georgia in the Index of Economic Globalization - 4

Swiss organization ''Federal Institute of Technology'' publishes the Index of Economic Globalization, identifying the economic globalization level based on international trade, external capital flows, and migration. Higher globalization level means more potential for development. In 2018, Georgia ranked 18th while it ranks 22nd in 2019 (among 189 countries). Georgia has the lowest score in the criteria related to foreign investments. Singapore ranks first. 

Georgia in the Corruption Perceptions Index +5

The Corruption Perceptions Index is an index published by Transparency International on an annual basis that ranks countries "by their perceived levels of public sector corruption, as determined by expert assessments and opinion surveys.'' Georgia ranked the 46th in 2018 while it was on the 41st place among 180 countries in 2019. Georgia has the lowest score in the corruption-related issues. Denmark ranks first. 

Georgia in the Democracy Rating -10

The Democracy Index is an index compiled by the Economist Intelligence Unit (EIU), a UK-based company. It intends to measure the state of democracy according to the elections, government operation, engagement in policy, and political culture. Georgia was 79th in 2018, while in 2019, it ranked 89th in 2019 among 167 countries. Georgia belongs to a group of hybrid countries with 5.93 points, while Norway ranks first in the rating. 

Georgia in the Press Freedom Index by Reporters Without Borders +1

The Press Freedom Index is an annual ranking published by Reporters Without Borders based upon its assessment of the countries' press freedom records in the previous year. Georgia ranked the 61st in the rating while it was 60th in 2019 (among 180 countries). Polarization is the most negative side of the media environment. Rustavi 2 –related court dispute and abduction of Azerbaijani journalist Afgan Mukhtarli are also problems. Norway is the first in the rating. 

Georgia in the Press Freedom Index by Freedom House -2

The Freedom House organization compiles the Press Freedom Index based on surveying experts and researchers. The index shows the judiciary, political, and economic environment of countries. Georgia ranked 102nd in 2018 while it was 100th in 2019 (among 199 countries). Georgia has the lowest score in the judiciary environment section. Norway is the first in the rating. 

Source: forbes.ge

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