Out of 180 countries, Armenia is in 33^rd place in the Heritage Foundation’s 2017 Index of Economic Freedom (Armenia was in 54^th place in the 2016 Index of Economic Freedom).

Armenia’s economic freedom was ranked with 70.3 points, which is 3.3 points more than last year’s ranking.

The level of economic freedom is ranked based on 12 standards divided into 4 groups.

There has been improvement with respect to two of the criteria of rule of law (including property rights protection).

The government spending criterion has improved and reached 81.7, while the ranking of tax burden has gone down.

Armenia has progressed in terms of business freedom and labor freedom, but the level of monetary freedom has remained the same.

In terms of trade freedom, Armenia’s points have gone down to 80.2, and there are no changes in terms of investment freedom and financial freedom.

Let us mention that out of the neighboring countries, Georgia is in 13^th place, Turkey-in 60^th place and Azerbaijan-in 68^th place.

The countries with free economies are Hong Kong, Singapore and New Zealand, writes 168.am.