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Since 2012, when the political party Georgian Dream took leadership of the country’s governance, economic [real] growth reached its highest rate in 2017 (5.0%). The drivers of this growth were construction (11.2%), hotels and restaurants (11.2%), and the financial sector (9.2%). However, a few sectors of the economy declined in 2017, and one was agriculture (-2.7%).
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Over the past 30 years, Georgia went through a remarkable roller-coaster transition from being one of the best performing USSR republics to a failed state to the top reformer on the post-Soviet space and thus demonstrating that change is possible. Georgia’s experience of fast-track development and modernization through international cooperation, radical deregulation, and trade liberalization carry important lessons learned for policymakers in other transition and developing nations.
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The Ambassador of Norway to Azerbaijan & Georgia, Bård Ivar Svendsen, was invited to speak to visiting Norwegian students who partook in a four-day visit to Tbilisi to attend an anti-corruption course jointly organized by ISET and NHH (the Norwegian School of Economics).
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Giga Bokeria, the leader of the European Georgia opposition party, visited ISET to deliver a lecture on anti-corruption reforms in Georgia carried out by the United National Movement government of 2003-2012. Bokeria, a UNM member until 2017, played an integral role in the Rose Revolution, which ousted the late Eduard Shevardnadze, under whose tenure Georgia had become wracked by institutional corruption.
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In 1991, the former finance minister of Chile, Alejandro Foxley, said in an interview: “We may not like the government that came before us. But they did many things right. We have inherited an economy that is an asset.”