“The World Governance Indicator provides certain results this is the confirmation. Georgian Government works hard on further improvement of the investment and business environments and these are the achievements that have found reflection in the World Bank’s improved ratings,” – Natia Turnava, the Minister of Economy and Sustainable Development stated when assessing the World Governance Indicators survey of the World Bank. According to the WGI, Georgia is one of the best countries in the region in terms of Government Effectiveness, Regulatory Quality and Control of Corruption.
“The achievements we have in the Control of Corruption, the Regulatory Quality and, generally, in terms of improvement of the business environment, is a significant message to foreign investors. Being at the 18th place among 183 countries in terms of Control of Corruption is a very high position and it should also be noted that Georgia is the 8th among the European countries thus being ahead of such development countries as Spain, Italy, Czech Republic, etc.,” – said the Minister of Economy and Sustainable Development.
According to the World Bank’s WGI, Georgia is one of the best performance in the region in terms of the Regulatory Quality, the Rule of Law and Control of Corruption. Georgia’s rating score is improved in 4 out of 6 indicators of the report. These include the Voice and Accountability, Government Effectiveness, Regulatory Quality and the Rule of Law. In line with the improvement of the rating scores, the country’s ranking was also improved in all four research indicators.
The historical maximum was recorded in the Government Effectiveness, where Georgia scored 74,04% ranking and outperformed six EU member states, such as Hungary, Italy, Croatia, Greece, Bulgaria, Romania. There is also a positive assessment in the Regulatory Quality, where Georgia scored 83,17%. Georgia is the leader in the region and the 15th among the European countries.
World Governance Indicators is a research database that is fully based on various global ratings and assessments. Specifically, it is based on various international ratings such as Global Competitiveness Index, Economist Intelligence Unit, Freedom House, Open Budget Index, Institutional Profile Database and more.
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