Georgia has taken 5th place among 165 countries in the world in the economic freedom annual report published by the Fraser Institute, Trend reports via the report.

Last year Georgia took 8th place among 162 countries in the same report.

The report measures economic freedom based on regulation, freedom to trade internationally, size of government, property rights, government spending, and taxation.

Considered as most free Georgia has the following ranking in the five broad areas of economic freedom:

Size of Government – 8.14
Legal System and Property Rights – 6.72
Sound Money – 9.18
Freedom to Trade Internationally – 9.12
Regulation – 8.16

According to the report, people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives.

Source: TREND News Agency