Home / Economy / Azerbaijan significantly improves positions in Index of Economic Freedom-2019

Azerbaijan significantly improves positions in Index of Economic Freedom-2019


By Abdul Kerimkhanov

Azerbaijan has significantly improved its positions in the Index of Economic Freedom-2019, compiled by the U.S. influential think tank The Heritage Foundation.

Azerbaijan has raised its position by seven lines in the Index of Economic Freedom-2019.

The countries were rated according to criteria such as freedom of business, trade and finance, protection of labor and property rights etc.

In the updated index, Azerbaijan scored 65.4 points and ranked 60th among 180 countries of the world.

Its overall score has increased by 1.1 point. The country has improved its position in such subcategories as “government integrity”, “investment freedom”, “property rights”, “judicial effectiveness”, “government spending” and others.

For example, in the “property rights” sub-category, Azerbaijan scored 59.1 points against 53.6 in 2018. The scores for other subcategories come as follows: “judicial effectiveness” – 53.1 points (36.8 points), “government spending” – 59.5 points (59.4 points), “government integrity” – 44.7 points (39.9 points), “investment freedom” – 60 points (55 points).

Meanwhile, Kazakhstan took the 59th line of the ranking, Turkey – 69th, Kyrgyzstan – 79th, Russia – 98th, Belarus – 104th, Tajikistan – 122nd, Uzbekistan – 140th, Ukraine 147th, and Turkmenistan – 164th line.

For much of human history, most individuals have lacked economic freedom and opportunity, condemning them to poverty and deprivation.

Today, humanity lives in the most prosperous time in the history of mankind. Poverty, sicknesses, and ignorance are receding throughout the world, due to, in large part, the advance of economic freedom.

In 2019, the principles of economic freedom that have fueled this monumental progress are once again measured in the Index of Economic Freedom, an annual guide published by The Heritage Foundation, Washington’s number one think tank.

For 25 years, the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. With new resources for users and a website tailored for research and education, the Index of Economic Freedom is poised to help readers track over two decades of the advancement in economic freedom, prosperity, and opportunity and promote these ideas in their homes, schools, and communities.

The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries.

The 2019 Index, the 25th edition includes updated economic freedom scores and macroeconomic data for 186 economies, easy-to-read cross-country comparisons that highlight why economic freedom matters and online tools like customized comparison charts and an interactive heat map.

About Fidan Abdullayeva