GEORGIA IN ECONOMIC FREEDOM INDICES: THE CONCEPT AND DYNAMICS OF THE RATINGS

Abstract

The paper discusses the global index of economic freedom and the concept of the economic freedom index, their components and meaning. The dynamics of the said indices and the place of Georgian among the world countries are presented. The reasons for falling downof Georgia in the economic freedom index for 2022 are discussed. There are the considerations about the possible advancement of Georgia in the ratings of the Georgia’s economic freedom after recovery from the negative outcomes of the Pandemics. In addition, the government has to care about the regulations and reduction of the governmental costs, protection of the property and efficiency of the court, labor and business freedom, fiscal healthiness and stability of the GEL rate.