Georgia

Georgia’s trade deficit up 24% y/y in 2021

Iulian Ernst in Bucharest January 24, 2022

Trade gap widened by 24% y/y to $5.83bn – which represents nearly one third of the estimated GDP last year.

Georgia’s mountainous cryptocurrency problem

Giorgi Lomsadze for Eurasianet January 22, 2022

The legendary mountain region of Svaneti has turned into a cryptocurrency mint, resulting in chronic electricity shortages.

Georgian Airways files for insolvency, put up for sale

Giorgi Lomsadze for Eurasianet January 21, 2022

The flag carrier was hit hard by a 2019 Russian ban on direct flights, but the knockout blow was the pandemic.

World Bank forecasts Georgian economy to grow by 5.5% in 2022, 5% in 2023

bne IntelliNews January 13, 2022

The Georgian economy is projected to grow 5.5% in 2022 and 5% in 2023, the January edition of the World Bank’s report Global Economic Prospects 2022 says.

Inflation in Georgia peaks at 13.9% y/y in December

Iulian Ernst in Bucharest January 4, 2022

Core inflation, however, eased to 5.9% y/y from 6.1% y/y in November.

DEATH OF THE SOVIET UNION: BOOK REVIEW – Reassessing the causes of the Soviet demise

Clare Nuttall in Glasgow December 28, 2021

Vladislav Zubok’s book Collapse: the fall of the Soviet Union examines the causes of the breakup of the Soviet Union and challenges the view that the collapse was inevitable.

DEATH OF THE SOVIET UNION: The borders drawn in the 1920s are serving Russia well in the 2020s

Clare Nuttall in Glasgow December 17, 2021

Frozen conflicts along contested borders in the former Soviet space have created levers for Russian influence.

DEATH OF THE SOVIET UNION: Strong institutions are better than a strongman leader

Clare Nuttall in Glasgow December 17, 2021

The 30 years since the fall of communism show that strong institutions served the transition countries better than a strongman leader — despite a widespread belief to the contrary, found a webinar organised by wiiw.

Georgian FDI remains subdued

Iulian Ernst in Bucharest December 13, 2021

A large part of the FDI was actually retained earnings generated by the two major banks, TBC and Bank of Georgia.

Unemployment in Georgia up 2.5pp y/y to 19.5% in Q3

Iulian Ernst in Bucharest December 9, 2021

In the fourth quarter, the base effects will dissipate and the annual figures may decrease.

Georgia hikes policy rate to highest level in 13 years

Iulian Ernst in Bucharest December 9, 2021

The monetary policy committee of the National Bank of Georgia increased the refinancing rate rate by 0.5 pp to 10.5%.

DEATH OF THE SOVIET UNION: A green revolution brought the USSR down

Ben Aris in Berlin, Linas Jegelevicius in Vilnius, Clare Nuttall in Glasgow December 8, 2021

The green agenda is dominating the debate today, but the importance of environmental issues is nothing new: 30 years ago it was a green revolution that brought the Soviet Union down.

Georgia’s manufacturing output up real 11.5% y/y in Q3

Iulian Ernst in Bucharest December 7, 2021

Compared to the third quarter of 2019, the production value in the manufacturing sector expanded by an annualised real rate of 2.9% per annum.

Georgia’s inflation remains above 12% y/y in November

Iulian Ernst in Bucharest December 7, 2021

The biggest part of the 12.5% y/y annual inflation (5.35pp) was caused by the 17% y/y increase in food prices.

New American company seeks to realise Trans-Caspian pipe dream

David O'Byrne for Eurasianet December 3, 2021

The new proposal’s modest scope, and new diplomatic developments, could finally make the pipeline feasible.

Georgia’s annual GDP growth stable at 6.9% in October

Iulian Ernst in Bucharest December 2, 2021

For the first 10 months of the year, Geostat estimates an average growth rate of 10.5%.

EU challenges China’s Belt and Road with €300bn Global Gateway

bne IntelIiNews December 2, 2021

Bloc’s giant investment offer may appeal to countries worried by Chinese “debt-trap diplomacy”. Beijing warns against geopoliticising infrastructure.

Have Georgia’s crypto glory days passed?

Clément Girardot for Eurasianet November 30, 2021

More expensive electricity means global cryptominers are avoiding Georgia.

Georgian banks’ loan portfolios grow by 15% y/y at end October

Iulian Ernst in Bucharest November 29, 2021

Compared to October 2019, before the crisis, the volume of assets and loans surged by 29% and 36% respectively.

Tehran City Council renames streets in dig at Azerbaijan

Javid Agha in Baku November 25, 2021

Road renamings celebrate historic Iranian links to the South Caucasus, as well as jailed Shiite group.

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