Armenia ranked 36th freest among 179 countries in 2011 Index of Economic FreedomJanuary 13, 2011 - 14:10 AMT PanARMENIAN.Net - The Heritage Foundation and The Wall Street Journal published the 2011 Index of Economic Freedom. According to the document, Armenia’s economic freedom score is 69.7, making its economy the 36th freest in the 2011 Index. Its overall score increased by 0.5 point from last year. Armenia is ranked 19th freest among the 43 countries in the Europe region, and its score puts it above the world and regional averages. Armenia receives high marks in eight of the 10 economic freedoms. Over the past decade, market liberalization and privatization have recharged the economy. Despite the economic slowdown in recent years, a macroeconomic policy environment supported by low taxes and stable government spending has promoted steady economic growth. The regulatory framework is sound, and an open trade regime with low tariffs facilitates the free flow of goods. Further growth in economic freedom in Armenia will require deeper institutional reforms that include better protection of property rights and strengthening of the judicial system. Corruption remains widespread in many sectors of the economy. Despite relatively low tax rates, tax evasion has become a growing concern. According to the 2011 Index, Hong Kong has the freest economy, followed by Singapore and Australia. Georgia, Azerbaijan, Russia and Ukraine are ranked 29th, 92nd, 143rd and 164th freest respectively. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |