Georgia has secured the 25th position in the ranking of Economic Freedom of the World, classifying it as one of the 41 free countries. The 2023 report, which covers data from 2021, shows Georgia advancing two steps compared to the previous year’s ranking.

In 2020, Georgia occupied the 27th place in the global ranking, while in 2019, it was ranked 22nd. The degree of economic freedom is measured in five broad areas: Size of Government, Legal System and Property Rights, Sound Money, Freedom to Trade Internationally, and Regulation.

Singapore secured the first place in the ranking, while Venezuela ranked last. Among Georgia’s neighbouring countries, Armenia claimed the 33rd position, Azerbaijan the 112th, Turkey the 101st, and Russia the 104th.