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After a failed transition until the mid-90's, Armenia has made
great progress in liberalizing its economy.
The Armenian Business Law has been notably improved these recent
years but it still comprises many drawbacks. Armenia suffers from
a bureaucratic, centralized and corrupted Administration.
The top income tax rate is 20 percent. The top corporate tax rate
is 20 percent.
2004 Index of Economic Freedom
| Rank |
Score |
Trade Policy |
Fiscal Burden |
Government Intervention |
Monetary Policy |
| 44 |
2,63 |
2 |
2,3 |
3 |
2 |
| Foreign Investment |
Banking and Finance |
Wages and Prices |
Property Rights |
Regulation |
Informal Market |
| 2 |
1 |
3 |
3 |
4 |
4 |
Source: Heritage Foundation, 2004
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