Index of Economic Freedom 2014

Index of Economic Freedom 2014

In 2014, the principles of economic freedom that have fueled this monumental progress are once again measured in the Index of Economic Freedom, an annual guide published by The Wall Street Journal and The Heritage Foundation, Washington’s No. 1 think tank.

Azerbaijan’s economic freedom score is 61.3, making its economy the 81st freest in the 2014 Index. Its overall score is 1.6 points higher than last year, reflecting improved scores in the management of public finance and property rights. Azerbaijan is ranked 13th out of 42 countries in the Asia–Pacific region, and its overall score is above the regional and global averages.

Over the 20-year history of the Index, Azerbaijan has advanced economic freedom significantly to become a “moderately free” economy for the first time in the 2014 Index. A series of major reform measures has enabled the country to rise from the status of economically “repressed.” Score improvements of 10 points or more have been achieved in nine of the 10 economic freedoms, and Azerbaijan’s overall improvement of 31.3 points is the biggest gain of any country.

By sharp contrast, Azerbaijan’s rule of law has deteriorated over the past two decades and remains fragile, and the level of corruption continues to be substantial. Deeper systemic reforms to strengthen the independence of the judiciary and the protection of property rights are critically needed to ensure the country’s continuing progress toward greater economic freedom.

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