Azerbaijan`s model of economic development draws more and more attention of world day by day.
Leading rating agencies such as Moody`s, Fitch Ratings and Standard and Poors have given high financial ratings to Azerbaijan while they have indicated even some developed countries as having lower financial ratings.
In its 2013 report, World Economic Forum placed Azerbaijan in 39th place for the economic competitiveness.
Gaining 61.3 points out of possible 100 in 2014 Index of Economic Freedom prepared jointly by US-based Heritage Foundation and Wall Street Journal, Azerbaijan ranks 81st out of 186 countries as one of the countries with economic freedom. Compared with the previous year, Azerbaijan has progressed by 6 places in the ranking improving its economic freedom index by 1.6 points. The reason behind this is reported to be improvements in financial management and property issues.
The reports emphasizes small amount of state debts of Azerbaijan and that there are very positive outcome in the field of public expenditures, taxes, business, labor, trade, investments and economic freedom.
Azerbaijan ranks 13th among 42 Asia-Pacific countries and its average point is much higher than average regional and global indicators. Azerbaijan is ahead of India, Italy, Croatia, Serbia, Greece, Russia and Ukraine for its level of economic freedom.
Economic freedoms have expanded in Azerbaijan in recent years, the report says. Azerbaijan has become one of the moderately free countries as a result of systematic and large reforms. As a sign of improved economic freedom, Azerbaijan gas scored 31.3 points which has can be considered the best result for every country.
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