The FINANCIAL — World Bank published research according to which Georgia’s ratings are improved in Worldwide Governance Indicators. In the Control of Corruption indicator, Georgia ranks 41st among the world’s 189 countries and 19th in Europe, among the top 20 (in the 2012 research ranked Georgia 62nd in Control of Corruption). Georgia is ahead of 13 EU member states: Spain, Italy, Poland, Malta, the Czech Republic, Latvia, Slovakia, Croatia, Hungary, Romania, Cyprus, Greece, and Bulgaria. In terms of Control of Corruption, Georgia has scored 74.04% on a scale of 100%. Georgia is the region’s leader, with only Estonia and Lithuania having better results in the post-Soviet space.
The Worldwide Governance Indicators (WGI) project reports aggregate and individual governance indicators for over 200 countries and territories, for six dimensions of governance:
Voice and Accountability
Political Stability and Absence of Violence
Rule of Law
Control of Corruption
These aggregate indicators combine the views of a large number of enterprise, citizen and expert survey respondents in industrial and developing countries. They are based on over 30 individual data sources produced by a variety of survey institutes, think tanks, non-governmental organizations, international organizations, and private sector firms.
In the Government Effectiveness indicator, Georgia has scored 76.94% on a scale of 100%, a historic high making Georgia 37th in the world and 24th in Europe. Georgia is ahead of 8 EU member states: Italy, Poland, Slovakia, Hungary, Greece, Croatia, Bulgaria, and Romania (the 2012 research ranked Georgia 50th in the world in the Government Effectiveness indicator).
In the Regulatory Quality indicator, Georgia ranks 27th in the world and 19th in Europe, among the top 20. Regulatory Quality is assessed based on a state’s ability to plan and implement reforms aiming to develop the private sector (the October 1, 2012 research ranked Georgia 39th in the world and outside the European top 20 in Regulatory Quality).
Georgia has a leading position in the Rule of Law indicator as well, being ahead of one of the Group of Seven, 3 EU and 7 NATO member states. According to said report and ratings, Georgia’s rule of law eclipses such countries as Italy, Greece, Bulgaria, Greece, North Macedonia, Montenegro, and others (the Rule of Law Indicator of the 2012 research ranked Georgia behind all developed countries).
Last year, Georgia received 76.4 per cent from the total 100 per cent scale for its efforts against corruption. In the ranking Georgia preceded 14 EU-member states. In 2019, Georgia received a score of 74.04 percent for government effectiveness. In the ranking for regulatory quality, which estimates the reforms carried out by the government for the development of the private sector, Georgia received 83.17 per cent of 100 per cent, as reported by agenda.ge
It is interesting to note that in August of 2020, the World Bank has published a new Enterprise Surveys. Over 164,000 of companies from 144 countries were involved in these surveys and Georgia was in the top 10 countries in terms of low bribery prevalence. In Georgia, the percent of firms that said they would expect to have to give a ‘gift’ in order to receive an operating license amounted to zero. The percent of firms that said they would expect to give ‘gifts’ during meetings amounted to 1 per cent and the percent of firms expecting to have to give gifts in order to secure government contracts amounted to 1.4 per cent. Read more.
Georgia Needs More Investment in Human Capital to Assure the Well-Being of its Future Generations, says World Bank Report
A February 2022 survey of 155 finance executives revealed that 55% of respondents are aiming…
Marketing analytics are responsible for influencing just over half (53%) of marketing decisions, according to…
In addition to affordability challenges, recent volatility in mortgage rates is making it difficult for…
The 25 emerging technologies to watch on the Gartner, Inc. Hype Cycle for Emerging Technologies,…
Four in ten (40%) globally say inflation is one of the biggest issues affecting their…