ARMENIA’S ECONOMY RECOGNIZED “MOSTLY UNFREE”

Armenia’s economy has been recognized “mostly unfree”, as reported by Washington ProFile, the recurrent publication of the Index of Economy Freedom runs due to the outcomes of the research carried out by Heritage Foundation organization. According to the authority, Hong Kong, Singapore, New Zealand, Luxembourg, Ireland, Estonia, Denmark, Switzerland and the US occupied the top ten chart of the countries with mostly free economy. Litva and Latvia have been ranked among the former soviet republics having free economy for most part. Armenia (sharing the 44-th position with France), Georgia (91), Azerbaijan (106), Russia (114) and Ukraine (117) were marked as the countries with “mostly unfree economy. The economies of Belarus, Tajikistan and Uzbekistan were stated as “repressive”. The Index was compiled with taking into account the following criteria: trade, taxation policy, influence of powers upon the economy, amount of investments, situation at the financial service market, regulation of prices, defense of property rights, situation at the “black market”, etc.