According to the 2014 Index of Economic Freedom recently released by The Heritage Foundation, Armenia’s economy is classified as a “mostly free”

Armenia’s economic freedom score is 68.9, making its economy the 41st freest in the 2014 Index ranking 178 countries. Its overall score has declined by 0.5 point from last year, primarily due to combined deteriorations in investment freedom, business freedom, and fiscal freedom.

Armenia is ranked 18th among the 43 countries in the Europe region, and its score is above the world and regional averages.

Georgia came in 22^nd place and Azerbaijan, 81^st. Russia trailed far behind at the 140^th spot.