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According to the article published in Index of Economic Freedom 2014 Armenia’s economic freedom score is 68.9, making its economy the 41st freest in the 2014 Index among 178 countries. Armenia is ranked as "moderately free" country and is a leader among the CIS countries.

The Index is published by the American Research Center “The Heritage Foundation” in partnership with the “The Wall Street Journal” publication.

This year Azerbaijan’s economic freedom score is 61.3, making its economy the 81st freest. The authors of the research stress that 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, the document reads.

According to the research Armenia is ranked 18th among the 43 countries in the Europe region, and its score is above the world and regional averages. Over the 20-year history of the Index, Armenia has improved its economic freedom score by 26.7 points, the fourth largest score increase, reads the article.

Georgia is ranked on the 22nd place in this index. Russia is on the 140th place, Belarus - on the 150th, Kazakhstan – the 67th, Kyrgyzstan – 85th, Uzbekistan – on the 163rd, Turkmenistan - on 171st, Tajikistan - on the 139th and Moldova - 110th.

Armenia leaves behind also Turkey, taking the 64th place; Iran is on the 173rd place.

Leaders of the index of this year are Hong Kong, Singapore, Australia, Switzerland, New Zealand, Canada. The rating is closed by Iran, Eritrea, Venezuela, Zimbabwe, Cuba and North Korea.

Experts of “The Heritage Foundation” define economic freedom as "the absence of government interference or impediment of production, distribution and consumption of goods and services, except for the necessary protection of citizens and support freedom itself." Degree of economic freedom is calculated by ten average arithmetical indicators: business freedom, trade, financial sector, investment, labor, monetary and fiscal freedom, security of property rights, the size of the bureaucracy and the degree of protection against corruption. Thus, the "absolutely free" economy has to end up with 100 points, and there where is no freedom, respectively, zero. The Fund carries out analysis of economic freedom since 1995.

In the last research of "Index of Economic Freedom 2013” held in 2013 Armenia was again leading among the CIS countries, ranking the 38th.