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Economic Freedom Index of Heritage Foundation indicates how government support the economic freedom of private individuals and business. In the economically free countries government promotes labour, capital and commodity in free movement and development. Index is based on 4 components (and 10 sub-components). They are:
- Supremacy of law (right to ownership, judicial system effectiveness, justice of the government)
- Government Capacity (Tax Burden, Government Expenditure, Fiscal Health)
- Effectiveness of regulations (Business Freedom, Labor Freedom, Monetary Freedom)
- Open market (trade freedom)
According to Economic Freedom Index of Heritage Foundation Georgia is on the 13th position with 76.0 points out of 180 countries (It held 23th position in 2016 and 54th – in 2006). Georgia received the highest rate (93.5 points) in “fiscal health” and the lowest (55.1 points) in “property rights”.
Hong Kong (89.8 points) holds the first place in the ranking, while the last – 180-th one is North Korea (4.6 points).
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