Armenia drops 11 notches in 2018 Index of Economic FreedomFebruary 6, 2018 - 15:53 AMT PanARMENIAN.Net - Armenia’s economic freedom score is 68.7, making its economy the 44th freest among 180 countries of the world in the 2018 Index of Economic Freedom, down by 11 notches from last year. Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please. In economically free societies, governments allow labor, capital, and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself. Armenia’s overall score has decreased by 1.6 points, with a sharp decline in fiscal health and lower scores for investment freedom and labor freedom overwhelming modest improvements in judicial effectiveness and monetary freedom. Armenia is ranked 20th among 44 countries in the Europe region, and its overall score is slightly below the regional norm but well above the world average. The economy relies on manufacturing, services, remittances, and agriculture. Armenia joined the Russian-backed Eurasian Economic Union in 2015 and has shown some interest in expanding economic ties with the Euro-Atlantic community. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |