10
April
2024
Following the collapse of the Soviet Union, Georgia faced significant economic challenges, including political instability and conflicts. This resulted in a severe economic recession in the 1990s, with GDP contracting sharply.
01
April
2024
Similar to the year 2022, Georgia stayed on the path of economic recovery from COVID-19 in 2023 as well. According to GeoStat’s preliminary estimates, the real GDP continues to show a relatively high growth rate, measuring at 7.5% y/y in 2023 – which is remarkably higher than the NBG’s real GDP growth expectation of 6% from October 2023.
01
April
2024
In June 2023, responding to appeals from the Georgian Flour Producers Association, the Georgian government imposed a temporary import duty on wheat flour imported from Russia. This advocacy by the Association began after Russia implemented a “floating tariff” on wheat in 2021, making wheat imports more expensive compared to wheat flour.
28
March
2024
Political polarization erodes trust in public institutions, it damages political process, negatively affects economic development, distracts social development and relationships in society, and it may eventually lead to the backsliding of democracy.
25
March
2024
Geostat has released its rapid estimate of real GDP growth for January 2024. The estimated growth stands at 5.8%, while the estimated growth of 2023 reached 7.5%.
