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Armenia with 69.4 points occupies 38th place in the world according to the report issued ahead of the "Index of Economic Freedom - 2013". Armenia now is on a higher place than it was in the previous year by one point. According to the study, Armenia is ranked as "moderately free" country and is leading among the CIS countries. Index is published by the American Research Center “The Heritage Foundation” in partnership with the publication of “The Wall Street Journal”.

The list of 177 countries is divided into five groups conditioned by the rating of the Index of Economic Freedom: "Free," "Mostly Free", "Moderately Free", "Mostly Unfree" and "Repressed."

According to the report, Armenia is ranked 17th among the 43 countries in the Europe region, and its score puts it above the world and regional averages.

"Considerable diversification of the economic base has increased economic dynamism in Armenia, and a decade of strong economic growth has reduced poverty and unemployment rates. Although Armenia performs relatively well in many categories of economic freedom, stronger foundations are needed in areas like judicial independence and government transparency. Despite progress in tackling corruption, particularly within the tax and customs administrations, the close relationships within political and business circles raise concerns about cronyism and undue influence by vested interests,” the report says.

Azerbaijan just like in the previous year is among the Mostly Unfree countries. Its economic freedom score is 59.7, making its economy the 88th freest in the 2013 Index. “Azerbaijan’s strong economic growth has been driven mainly by development of the energy sector. Substantial challenges to diversification and sustainable growth remain, and deeper systemic reforms are critically needed to strengthen the foundations of economic freedom. Despite some improvement, property rights are weak, and the level of corruption continues to be substantial,” the report says.

Neighbor of Armenia and Azerbaijan in the South Caucasus, Georgia’s economic freedom score is 72.2, making its economy the 21st freest in the 2013 Index. Russia’s economic freedom score is 51.1, making its economy the 139th freest, Belorussia is in 154th, Kazakhstan in 68th, Kirgizstan in 89th, Uzbekistan – 162nd, Turkmenistan – 169th, Tajikistan – 131st and Moldova in 115th place.
Turkey is also behind Armenia and is on 69th place and Iran is on 168th place.

Hong Kong is ranked the 1st out of 41 countries in the Asia–Pacific region and the 1st in the world in economic freedom, then follow Singapore, Australia, New Zeeland and Switzerland that received 80 points.

Experts of “The Heritage Foundation” define economic freedom as "the absence of government interference or obstruction of production, distribution and consumption of goods and services, except for the necessary protection and support of freedom to citizens." The degree of economic freedom is calculated from the average of the ten indicators: freedom of business, trade, finance, investment, labor, monetary and fiscal freedom, security of tenure, size of the bureaucracy and the degree of protection from corruption. Thus, the "absolutely free" economy it will end up with 100 points, and where there is no freedom, there it will be zero. Analysis of economic freedom is being held by the Fund since 1995.

In the last year's study of "Index of Economic Freedom 2012” as well Armenia was the leader in CIS, ranking 39th in the world.