Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2021, and their estimated growth stands at 9.5%, which is 1.4 percentage points below the ISET-PI’s most recent forecast. The annual real GDP growth in 2021 amounted to 10.6%, which is 0.2 percentage points lower than our recent prediction.
Recently, Geostat revised upward its real GDP growth for the third quarter of 2021 to 9.1% (by 0.1 ppt). The real GDP growth rate amounted to 12% year-on-year for November 2021. Consequently, the estimated real GDP growth for the first eleven months of 2021 was 10.7%.
Food Loss and Waste (FLW) is one of the critical issues related to waste management in Georgia. A large amount of food still suitable for human consumption is wasted by Food Business Operators (FBOs) and large food retailers in particular due to the packaging or quality issues, expiration date, excess supply and consumption habits, which results in significant economic losses for these FBOs.
In the past year and a half since the pandemic began, we’ve all become familiar with phrases such as “supply chain disruption,” “turbulence and volatility in international markets,” and “in these unprecedented times,” often used to preface news about pandemic-related food price increases across the globe.
The average cost of cooking one standard Imeretian khachapuri currently stands at 4.33 GEL, which is 6.9% lower month-on-month (compared to April 2021), and 5.6% higher year-on-year (compared to May 2020). The main contributor to the price change is a seasonal decrease in the price of cheese, which fell by -13.1%, compared to the previous month (April 2021).