The global economy continues to recover in Q3 2021 following the deep economic crisis caused by the COVID-19 pandemic. The growth accelerated as a result of the easing of virus- containment restrictions in most countries. According to the IMF forecast (October 2021), global GDP will grow 5.9% year over year (y/y), which is a downward adjustment from the previous estimate of 6% (July 2021).
Recently, Geostat released its preliminary estimate of real GDP growth for the first and second quarters of 2021. The Q1 and Q2 growth rates were revised upward to -4.1% (by 0.4 ppt) and downward to 28.9% (by 1 ppt) respectively. The real GDP growth rate amounted to 6.9% year-on-year for October 2021. Consequently, the estimated real GDP growth for the first ten months of 2021 was 10.5%.
On 9 December 2021, ISET Policy Institute conducted an online discussion, Remote work in times of COVID: How Georgia adjusted to challenges, in partnership with the International Chamber of Commerce of Georgia (ICC).
The International Energy Agency provides a definition of energy security across two dimensions. In a broad sense, energy security is defined as the “uninterrupted availability of energy sources at an affordable price,” while short-term energy security denotes that an energy system has the capability to promptly balance any disruption in the supply-demand equilibrium.
Back in the summer of 2021, the Government of Georgia (GoG) worked on a 10-year strategic framework for different sectors of the economy including agriculture. In July 2021, Georgia’s Prime Minister Irakli Garibashvili announced the targets for the Ministry of Environmental Protection and Agriculture (MEPA) under the government’s 10-year-strategic framework.