25
September
2023
Geostat has released its rapid estimate of real GDP growth for July 2023. The estimated growth stands at 5.5%, while the average real GDP growth for January-July 2023 reached 7.2%.
01
September
2023
In July 2023, Georgian power plants generated 1,541 mln. kWh of electricity. This represents an 18% increase in the total generation compared to the previous year (in July 2022, the total generation was 1,308 mln. kWh). The rise in generation on a yearly basis comes from a rise of 8% in Hydro and 8% in wind and 45 times in thermal power generation.
10
July
2023
In 2022, Georgia’s tourism sector still heavily relied on visitors from neighboring countries. The combined share of Russia, Turkey, Armenia, and Azerbaijan accounted for 62% of the total international visitors' trips. It is important to note that these countries had relatively low levels of expenditure per visit.
03
July
2023
In May 2023, Georgian power plants generated 1,325 mln. kWh of electricity. This represents a 9% decrease in the total generation compared to the previous year (in May 2022, the total generation was 1,461 mln. kWh). The decrease in generation on a yearly basis comes from a fall of 9% in Hydro and 6% in wind power, while thermal power generation increased by 89%.
03
July
2023
The global economy remains in a volatile state amid the prolonged effects of the combined negative shocks of the pandemic, Russia’s invasion of Ukraine, high inflation, and the tightening monetary policy. Although the global economy remained resilient at the beginning of the year, the situation is expected to worsen.
