Armenia records progress in Heritage Foundation’s Economic Freedom Index 2020

YEREVAN, MARCH 18, ARMENPRESS. Armenia has improved its positions in the Index of Economic Freedom 2020 released by the Heritage Foundation, capturing the 34th place, compared to the 47th place in 2019, the ministry of economy told Armenpress.

Armenia is included in the list of Mostly Free countries with 70.6 score, whereas last year the country was in the group of Moderately Free countries with 67.7 points.

The report says “economic freedom has remained fairly constant in Armenia during the past 15 years, with the economy vacillating between moderately free and mostly free. GDP growth in the past two years has been especially robust as the economy has rebounded from a 2015–2016 regional slowdown. The government is pursuing structural reforms, export promotion, and greater foreign investment to boost future economic growth, but also will need to focus more intently on improving judicial effectiveness and government integrity”.

Edited and translated by Aneta Harutyunyan