Georgia improves by five ranks in the Prosperity Index
04 December, 2018
Georgia improves by five ranks in the Prosperity Index
In the overall Prosperity Index rankings, Georgia has climbed by 5 positions from 85 to 80 when compared to last year. As such, Georgia is the best performing country in the CIS zone. Since the Prosperity Index began in 2006, Georgia has moved up the rankings table by 18 places. This year, Georgia performs best on governance, which takes into account the effective governance, democracy and political participation, and rule of law, as well as on education, thus, the access and
quality of education. By contrast, Georgia scores lowest on the social capital pillar that looks into the strength of personal relationships, social network support, social norms, and civic participation in a country.

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Georgia’s Prosperity Index ranking among the nine pillars , the more right, the better, photo courtesy: The Legatum Prosperity Index 2018

Although Eastern Europe is overall one of the strongest risers this year, the CIS zone performs poorest compared to the other three zones that belong to Eastern Europe. Georgia, Azerbaijan, Armenia, Ukraine, Moldavia, Belarus, Ukraine, and Russia perform worst in all categories, except of education. The primary issue within those countries is the significant deficit of institutional foundations.

Governments in this zone are largely totalitarian, preventing good governance and restricting important freedoms. For example, both Azerbaijan and Russia have the worst possible score for political rights, and four countries score in the bottom 50 for the World Bank’s rule of law measure. There are also severe government restrictions on practicing religion.

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Ranking of the CIS zone countries that are part of Eastern Europe photo courtesy: The Legatum Prosperity Index 2018

In addition, all countries score extremely low on measures of social tolerance. For measures of perceived tolerance towards ethnic minorities, LGBT individuals, and immigrants, the best global rank for any country in this zone is 98th out of 149 in total.

Since 2007 the London-based think-tank ‘The Legatum Institute’ has evaluated each year the so called Prosperity Index. The index describes the conditions required for prosperity, which is defined by nine pillars: Economic quality, business environment, governance, personal freedom, social capital, safety and security, education, health, and the natural environment. By using data for 149 countries over eleven years, the Prosperity Index tracks the journeys made by countries towards or away from prosperity.

Source: The Legatum Prosperity Index 2018

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GEL Exchange
USD
1
USD
2.9607
EUR
1
EUR
3.2855
GBP
1
GBP
3.6878
RUB
100
RUB
4.6066
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