Armenia ranks 63 among 121 countries in the Forbes ranking of Best Countries for Business, leaving behind all other CIS countries.

The ranking is based on the reports of the Transparency International, the Freedom House and other international organizations. GDP growth, inflation and unemployment rates, the state of tax and customs systems, and publications on human freedoms. "Over the past years the Armenian authorities have taken certain steps to improve the tax and customs systems.

However, although high paces of economic growth were registered, the unemployment rate in the country remains high, the fight against corruption is not enough and human freedoms are restricted," the Forbes states. Georgia is the next CIS country that is favorable for business. It ranks 68th, the main obstacle here is unemployment.

Azerbaijan is 82nd and Russia is 86th.

Source: By AZG.am