The work carried out in 2012 inspires optimism about Armenia’s future, Prime Minister Tigran Sargsyan said.

In this context, he said that Armenia’s advancement in Heritage Foundation report, released jointly with Wall Street Journal also inspires optimism about further reform implementation in 2013.

“The index is significant in terms of Armenia’s investment attractiveness,” he said.

With 69,4 points out of 100, Armenia ranked 38th in Heritage Foundation's "economic freedom index 2013, yielding only to Georgia among the CIS countries.

Georgia came 21st with 72,2 points, Turkey and Azerbaijan ranked 62nd and 88th respectively, with Kazakhstan placed 68th.

According to baltic-course.com, Hong Kong remains the world's most free economy, followed by Singapore, Australia, New Zealand and Switzerland, Canada, Chile, Mauritius, Denmark and the United States.

North Korea, Cuba, Zimbabwe, Venezuela and Eritrea are at the bottom of the index. The index scores 177 world nations on various factors of economic freedom: business freedom, trade freedom, monetary freedom, freedom from government, fiscal freedom, property rights, investment freedom, financial freedom, freedom from corruption, labor freedom.