American Heritage Foundation published 2015 Index of Economic Freedom where Armenia ranks the 52nd among 165 countries. Armenia’s economic freedom score is 67.1, making its economy the 52nd freest in the 2015 Index.

In 2014 Index, Armenia was the 41st with 68.9 points.

According to the Index, Armenia's overall score has declined by 1.8 points from last year, reflecting considerable deterioration in property rights, labor freedom, and monetary freedom.

Armenia is ranked 23rd among the 43 countries in the Europe region, and its score puts it above the world and regional averages.

The authors of the report note that Armenia’s transition to a more dynamic and market-oriented economy has been facilitated by openness to global commerce and by regulatory reforms designed to encourage entrepreneurial activity.

However, continued efforts, particularly to strengthen the independence of the judiciary and eradicate corruption, are needed to ensure progress in long-term economic development.

The authors of the report stress that although Armenia performs relatively well in most categories compared to world averages, the historical gains are not fully institutionalized, and the country’s economic freedom has been on a five-year downward path.

Particularly, this decline has taken place across six of the 10 economic freedoms, most notably in labor freedom, freedom from corruption, and monetary freedom.

It should be recalled that last year, in 8 out of 10 economic freedom indices (state administration, finance, commercial and financial freedoms), Armenia has registered improvement of the score.

The list of countries with free economics is topped by Hong Kong, Singapore and New Zealand. Georgia is ranked the 22nd, Azerbaijan - 85th, Turkey - 70th and Russia - 143rd.