This study examines Armenia’s performance in the 2025 Economic Freedom Index
(ECI) as reported by the Heritage Foundation and related sources. After three consecutive years of
decline, Armenia’s ECI increased slightly to 65.4 points, representing a 0.5-point improvement from
2024 but remaining 6.5 points below the pre-COVID-19 level of 2021. Despite this growth, Armenia
fell 10 places in the global ranking, occupying 57th position, due to its slower rate of improvement
compared to global and regional averages. For the fourth consecutive year, Armenia was classified
as a “moderately free” economy, whereas in 2017, 2020, and 2021 it was in the “mostly free”
category. The findings highlight that weak judicial independence and persistent corruption continue
to undermine the country’s economic freedom, constraining opportunities for sustainable economic
growth.