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Size-based financial performance patterns of Georgian enterprises: evidence from firm-level data
30 December 2025

Firms differ systematically by size, and these differences shape how aggregate shocks propagate through the corporate sector. Large and small firms vary in their production technologies, cost structures, financing options, and ability to absorb adverse shocks. These differences become particularly important during periods of macroeconomic stress, when constraints on liquidity, access to finance, and cost flexibility can translate into sharply divergent performance outcomes.

October 2025 | Khachapuri Index upward trend continues
31 October 2025

In October 2025, the cost of preparing one standard Imeretian khachapuri reached 7.3 GEL, reflecting a 3.5% increase from September 2025 and a 10.3% rise compared to October 2024.

September 2025 | Khachapuri Index rises for the third consecutive month
30 September 2025

In September 2025, the average cost of preparing a standard portion of Imeretian khachapuri reached 7.05 GEL. Starting from July 2025, the Khachapuri Index followed an upward trend, with prices increasing by 12.3% in September compared to June 2025. This rise was primarily driven by a 16.1% increase in cheese prices over the same period.

Valuation of a road maintenance programme
01 September 2025

This note sets out a comprehensive methodology for evaluating the socio-economic and fiscal impacts of road maintenance in Georgia. Moving beyond a purely technical cost perspective, it frames maintenance as a strategic investment that drives regional development, productivity, and fiscal sustainability.

August 2025 | Khachapuri Index upward trend continues
29 August 2025

In August 2025, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.76 GEL, reflecting a 5.8% increase compared to July 2025. On an annual basis, the price rose by 9.8% compared to August 2024.

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