Georgia’s economic freedom score is 76.2, making its economy the 16th freest in the 2018 Index. Its overall score has increased by 0.2 point, with a substantial improvement in property rights offsetting modest declines in government integrity, judicial effectiveness, and fiscal health. Georgia is ranked 9th among 44 countries in the Europe region, and its overall score is above the regional and world averages.
Since the 2003 “Rose Revolution,” reforms by successive administrations have reduced petty corruption, cut regulation, simplified taxes, opened markets, and developed transport and energy infrastructure. The government hopes that further reductions in regulation, taxes, and corruption will attract foreign investment and stimulate renewed growth. Its maintenance of monetary stability and overall sound fiscal health has fostered macroeconomic resilience. Nonetheless, deeper and more rapid institutional reforms to enhance judicial independence and effectiveness remain important for ensuring dynamic and lasting economic development.
REFERENCES: 2018 INDEX OF ECONOMIC FREEDOM GOVERNMENT OF GEORGIA