Georgia’s Insolvency law of 2007 is primarily oriented towards a rapid liquidation of insolvent corporate entities and private entrepreneurs’ businesses with subsequent distribution of remaining assets amongst the creditors. The number of insolvency cases dealt with by the local courts of Tbilisi and Kutaisi is fairly limited most probably due to insufficient assets in the insolvent entities to cover the costs of the insolvency procedure.

Regulations in the energy sector are there in order to ensure improvements in efficiency and service quality. They are essential because many actors in the energy sector of any country are state companies and/or natural monopolies for which efficiency and quality of service are somewhat foreign concepts.

Retail food prices show a 2.5% decrease y-o-y and a 2.3% decrease from the previous month. Compared to February, onions, coffee, and potatoes experienced the biggest drops showing 8.3%, 7.1%, and 7.0% decreases in prices, respectively.

This week, the Georgian public was shocked when a gross lack of competence and aptitude among the country’s teachers was unveiled. As DFWatch.net reports on March 10th (quoting a Georgian source), of the 10,552 teachers registered for a competence check that took place in January, only 6,477 showed up in the first place, and of these, only 1,101 passed the test.

According to Geostat estimates, Georgia’s annual real GDP growth in 2015 was 2.8%. ISET-PI’s annual GDP growth forecast of 2.9% annual growth (since September 2015) thus turned out to be quite accurate, just 0.1 percentage points above the official estimate.