THE PLACE OF ECONOMIC FREEDOM IN THE ECONOMIC POLICY OF THE COUNTRY

A market economy is based on economic freedom, which is revealed in freedom of choice. Choice is the main precondition for competition, and competition is the main driving force of economic development. Economic freedom contributes to the development of the economy of country and the well-being of the population the country depends on it. The International Heritage Foundation has been conducting annual surveys since 1995 on the fulfillment of these conditions in 180 countries around the world, including Georgia. The index of economic freedom in Georgia changes every year. A country is considered economically free if it does not restrict individual choice, voluntary exchange, freedom of competition. A necessary condition is the protection of private property. In an economically free society, every person has the full right, at his own discretion and in the conditions of free choice, to achieve his own goals, the state does not interfere in its activities and choices. It should be noted that economic freedom does not mean economic independence. At the present stage of society's development, the economic activities of any economic entity are so intertwined, so dynamic and in-depth, that the notion of economic independence sounds more an anachronistic than a 21st-century achievement.This applies to relations between countries, as well as relations between individuals and legal entities. Economic freedom means, above all, freedom of choice. Index of Economic Freedom (Economic Freedom of the World) is a measure of economic freedom compiled by the Heritage Foundation, a leading center for American policy research and ,,The Wall Street Journal“ . This index has been established since 1995.The world rating of "economic freedom" has a great importance in terms of further attracting investment in the country. The Index of Economic Freedom is based on ten criteria. These are: freedom of business, freedom of trade, fiscal freedom, government costs, monetary freedom, freedom of investment, financial freedom, property rights, freedom from corruption, freedom of labor. The information on the results of survey of the Heritage Foundation "Economic Freedom Index" 2020 is posted on the official website of the Ministry of Economy and Sustainable Development of Georgia, according to the survey 2020 of the "Heritage Foundation" Index of Economic Freedom " rating score of Georgia reached a historical maximum - 77.1 points, it was promoted by 4 positions in the world ranking and took the 12th position. Compared to the previous year, Georgia was promoted by 2 positions in the European region - with this result Georgia is in the 6th place among 45 countries in the European region with the status of "mostly free". Total score ofGeorgia exceeds both the regional (69.8 points) and the world average point (61.6 points).