Georgia’s economic freedom score is 73.0, making its economy the 22nd freest in the 2015 Index. Its overall score has increased by 0.4 point since last year, primarily reflecting improvements in freedom from corruption, monetary freedom, and the management of government spending that outweigh a notable decline in labor freedom.
Georgia is ranked 11th out of 43 countries in the Europe region, and its score is well above the regional average.
With a 2.6-point score increase over the past five years, Georgia has registered improvements in five of the economic freedoms, including freedom from corruption, the control of government spending, business freedom, monetary freedom, and investment freedom.
Achieving its highest score ever in the 2015 Index, Georgia has advanced further into the category of “mostly free.”
A decade of solid increases in economic freedom has contributed to the dynamic expansion of Georgia’s economy. Sound public finances and policies that support open markets have boosted prosperity and reinforced Georgia’s commitment to economic freedom. However, not all of the pillars of economic freedom are fully entrenched. Rule of law remains weak, and the perceived level of corruption, though improving, is higher than average for a European country.
Population: 4.5 million GDP (PPP): $27.6 billion 3.2% growth in 2013 5-year compound annual growth 3.7% $6,145 per capita Unemployment: 14.3% Inflation (CPI): –0.5% FDI Inflow: $1.0 billion Public Debt: 31.8% of GDP.