As the subject law emerged unexpectedly in the legislative sphere and was processed and approved at

International wheat prices have emerged as a significant policy concern in recent years, notably during the Covid-19 pandemic and Russia's war in Ukraine, as Russia has been known for periodically halting its grain exports to impact global prices. Georgia heavily depends on wheat imports from Russia, with over 95% of its wheat historically sourced from there.

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.

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.

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.