Armenia’s overall score increased by 0.5 point from last year. “Despite the economic slowdown in recent years, a macroeconomic policy environment supported by low taxes and stable government spending has promoted steady economic growth. The regulatory framework is sound, and an open trade regime with low tariffs facilitates the free flow of goods,” the report says.

It is mentioned that corruption remains widespread in many sectors of the economy. Despite relatively low tax rates, tax evasion has become a growing concern. “Corruption is perceived as widespread and even pervasive. Demands for bribes by government officials are routine. Government-connected businesses hold monopolies on the importation of numerous vital products,” the report says.

Armenia also registered the world’s second lowest score on International Property Rights Index and “the judicial system is still recovering from underdevelopment and corruption—legacies of the Soviet era that substantially impede the enforcement of contracts”.

No progress is registered in the field of government expenditures. It is mentioned that public debt has increased dramatically and is approaching 50 percent of GDP.

According to the research, Georgia is the leading state in the region. It is the second time Georgia is among mostly free countries. Armenia is considered moderately free, whereas Azerbaijan – mostly unfree.