In September 2023, the average price for preparing a standard portion of Imeretian khachapuri was 5.88 GEL. Since June 2023, there has been an upward trend in the khachapuri index, with the price of khachapuri increasing by 4.7% compared to June 2023. This increase is mainly explained by a 10.6% rise in the price of cheese during the four-month period (June-September 2023).
In August 2023, Georgian power plants generated 1,463 mln. kWh of electricity. This represents a 4% increase in the total generation compared to the previous year (in August 2022, the total generation was 1,401 mln. kWh). The rise in generation on a yearly basis comes from a rise of 12% in Hydro power generation, while the generation of wind and thermal power plants decreased by 29% and 32%, respectively.
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%.
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.
For the third quarter of 2023, business confidence in Georgia decreased (by 10.7 index points) and reached 15.7. The highest business confidence is observed in the financial (26.4) sector. The negative change in BCI for Q3 2023 was driven by worsened past performance as well as less optimistic expectations.