Many of us well-remember the cold winter of 2006 when the Russian Federation cut its natural gas supply to Georgia. In general, it is clear that diversification in energy import markets reduces the risk of socio-economic shocks following political tensions with other countries. Fortunately, Georgia managed to find an alternative to the Russian supply and started importing gas from Azerbaijan. This blog will review the current gas import situation and discuss the expected trends in natural gas supply security.
In September 2020, the average cost of cooking one standard portion of Imeretian khachapuri was 4.09 GEL, which is 2.8% higher month-on-month (compared to August 2020), and 11.7% higher year-on-year (compared to the same month of the previous year, September 2019).
The 2020 October parliamentary elections are quickly approaching. This could mark a turning point in Georgian politics as the country has embarked on the path towards a more proportional electoral system.
Since its start, the pandemic has spread to more than 180 countries, with governments around the world each reacting differently to the new global threat. The Oxford COVID-19 Government Response Tracker gauges the strictness of countries’ responses using a stringency index, which compares governmental policies over several dimensions.
On 28 May, Georgia announced its fourth anti-crisis plan, in which the government will subsidize 4 percent of the interest rate of mortgage loans for five years. The subsidy will be issued for loans not exceeding 200,000 GEL and will only apply to those taking mortgages for the purchase of residential apartments that are newly built or under construction, from 1 June 2020 to 1 January 2021. The state will also ensure the completion of ongoing construction.