Azerbaijan ranking 118th in Economic Freedom of the World 2008 report

Day.Az reports with reference to Cato Institute that the rating covered 141 countries.

The leaders are Hong Kong, Singapore, New Zealand, Switzerland, Great Britain, Chile, Canada, United States, Australia and Ireland. Azerbaijan took the 118th place in the rating. Russia is 101st, Ukraine is 121st, Kazakhstan is 42nd, Georgia is 39th and Armenia is 67th.

According to the rating, the situation is the worst in Zimbabwe (141st place).

It should be noted that Cato Institute started the development of the rating in 1991. It involved leading experts in the sphere of politics, economy and law. They assess the countries for five main criteria: government (number of state officials, not participating in the economic process directly, share of state involvement into economy, volumes of state investments and so on); system of property rights protection; availability of monetary funds (inflation rates, possibility to manage the currency accounts and so on); level of freedom of international trade; degree of business regulation, labor market and credit market.

It should be reminded that Azerbaijan was 122nd in the rating of economic freedom of the world 2007.

/Day.Az/