02
October
2024
According to GeoStat’s preliminary estimates in the second quarter of 2024, Georgia’s nominal GDP reached GEL 22,101.7 million, with a year-over-year real GDP growth of 9.6% and a GDP deflator change of 2.5%. The growth was driven by significant increases in value-added across various sectors: Accommodation and food service activities rose by 35.7%, Education by 21.3%, household activities as employers and producers of goods and services for personal use by 17.3%, Transportation and storage by 16.1%, Public administration and defense, including social security, by 13.3%, and Construction by 13%.
25
September
2024
The US Department of Treasury through its Office of Foreign Assets Control (OFAC), has imposed sanctions on two Georgian government officials and two private citizens for their roles in suppressing fundamental freedoms, including freedom of expression and peaceful assembly. According to the U.S. Treasury, these individuals were involved in violent crackdowns on protestors related to Georgia’s controversial "foreign influence law," passed in May 2024.
23
September
2024
Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.5%, respectively. As a result, the average real GDP growth from January to July 2024 was 9.7%.
30
August
2024
Increases in food prices and their volatility are global challenges, particularly affecting import-dependent developing countries where spending on food is relatively high. While major concerns regarding price dynamics and volatility are typically driven by the physical availability and financial accessibility of food.
05
August
2024
The underrepresentation of women in entrepreneurship in Georgia is a significant problem that disproportionately affects women’s ability to start and to sustain businesses. Despite legislative efforts and economic strategies intended to enhance the business environment, women face considerable challenges, such as limited access to finance, which hamper their ability to start and grow businesses.
