ARMENIAN ECONOMY IS THE MOST LIBERAL AMONG CIS COUNTRIES

This is the conclusion of American experts that have calculated the index of economic freedom.

The analysts of ''The Wall Street Journal'' and experts of the ''Heritage Foundation'' research center made a rating reflecting the degree of economic freedom in a vast array of countries around the globe. Armenia was included in the list of 50 countries with mostly free economy. It rates 44th, which is rather honorable taking into account the fact that the position is being divided with France. Last year's rating also put Armenia on 44th place. At the same time, in most of the CIS countries the index of economic freedom has decreased. This particularly refers to Azerbaijan the rating position of which has decreased.

January 16, 2004

PanARMENIAN.Net - According to the American experts, the economy of Armenia is the most liberal among all the CIS countries. By the main indicators reflecting the economic freedom, Armenia is almost on the same level with Japan (38th place) and Poland (56th place). Moldova and Georgia are also among the first 100 countries, while the other CIS countries are in the second hundred of the list. Azerbaijan is behind Armenia by 62 positions. It ranks after such countries as Rwanda, and is in the same group with Bangladesh and Yemen.

We shall note that while defining the index the trade, monetary and fiscal policies implemented by the government, the level of influence of the authorities on the economy, volumes of attracted investments, the situation of the market of financial services, price regulation, protection of property rights, the volumes of shadow economy, were taken into account. These criteria are successfully applied in Hong Kong, Singapore, New Zealand, Luxemburg, Ireland, Estonia, Great Britain, Denmark, Switzerland and USA. The result of the published rating undoubtedly does credit to Armenia and should influence the investment attractiveness of our country. Besides, according to the study carried out by the experts of the ''Transparency International'', decrease of the level of corruption has been fixed in Armenia. Quoting the results of the study, the head of the World Bank in Yerevan Roger Robinson has confirmed recently that by its corruption degree Armenia is behind other countries of the region. In 2003 ''by the level of transparency'' Armenia ranked 78th while the neighboring Georgia and Azerbaijan were 130th.