Armenia ranks the 99th country in the list of 2016 most prosperous countries in the world, reports the Business Insider, referring to the annual ranking of the Legatum Institute. 

Armenia is ahead of the neighboring Azerbaijan, which occupies the 103rd place, and Iran, which is in the 114th place. However, it fell behind Georgia (94) and Turkey (78). Russia is in the 95th place and has the worst index of personal freedoms. 

New Zealand in in the first place. Previously having the leading position, Norway ranks the top second country in 2016. It has yielded all criteria, except education, security, and environmental protection. Finland ranks the top third country. It has been recognized as the most advanced country in terms of rule of law, democracy, and efficacy of authorities.

Switzerland, being a leader in the field of education, took the 4th place. It is followed by Canada, Australia, the Netherlands, Sweden, and Denmark. The UK closes the top ten, improving its last year’s position from the 15th. Afghanistan and Yemen close the rating list, occupying the 148 and 149 places respectively.

Legatum Institute’s ranking list is based on 104 factors and includes 149 countries. Among these factors the list includes per capita GDP, employment and other economic indicators, infant mortality, the number of mobile phones, and citizens' faith in free elections.