For the first quarter of 2023, business confidence in Georgia increased (by 8.4 index points) and reached 20.1. The highest business confidence is observed in the financial (35.6) sector.

The Government of Georgia (GoG) started the process of institutionalizing RIA as an integral part of policymaking almost a decade ago. These efforts culminated with the realization of Ordinance No. 35, Tbilisi, 17 January 2020 (“ordinance” from here on).

In November 2022, Georgian power plants generated 1,131 mln. kWh of electricity. This represents a 5% decrease in the total generation compared to the previous year (in November 2021, the total generation was 1,186 mln. kWh).

Hazelnuts are one of the most important crops for Georgia in terms of export: between 2010-2021, they accounted for around 4.4% of total exports (GeoStat, 2022). In 2013, the quantity of exported hazelnuts reached its maximum level (30 ths. tons), in the following years, it then decreased to 19 ths. tons alongside an increase in value, thus indicating higher prices per exported kg of Georgian hazelnut.

The third quarter of 2022 was marked by a “perfect storm” of global challenges. Due to the ongoing geopolitical, economic, and ecological turbulence, with inflation reaching its highest point in decades, the world economy remains volatile.