KNOWLEDGE BANK

The Economist Intelligence Unit’s Democracy Index provides a snapshot of the state of democracy worldwide for 165 independent states and two territories. The Democracy Index is based on five categories: electoral process and pluralism; civil liberties; the functioning of government; political participation; and political culture. Based on its scores on a range of indicators within these categories, each country is then itself classified as one of four types of regime: “full democracy ”; “flawed democracy ”; “hybrid regime”; and “authoritarian regime”. In the 2017 Democracy Index the average...

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Supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Chamber of Commerce and Industry for Munich and Upper Bavaria, and working in partnership with the Georgian Chamber of Commerce and Industry (GCCI), this project aims at strengthening entrepreneurship education in Georgian Vocational Education and Training (VET) institutions. In order to do so, the study considers European best practices in teaching entrepreneurship and analyzes the current situation of entrepreneurship education in Georgian VET ...

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Ministry of Finance of Georgia, together with the National Bank of Georgia and the National Bureau of Statistics, is responsible for measurement and distribution of country’s economic and financial indicators. Georgia has been a member of Special Standards of data distribution of IMF since May 17, 2010. The webpage of Ministry of Finance of Georgia combines sections about Macroeconomic Analysis, Tax Revenues, Medium-Term Projections and Publications.

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Positive Evaluation of efficiency and transparency of Georgian Government by the international ranking institutions is of outmost importance, which is evidenced in improved positions of Georgia in global rankings. Georgia’s position in Transparency of Government Policy Making indicator has been improved by 5 positions in last 4 years and in 2016 was on the 31st position. This indicator is evaluated by the Global Competitiveness Index

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Georgian Economic Performance Index (G-EPI) is a combined indicator that examines the overall performance of a country’s economy, and reports deviations from the desired level of economic performance. The desired level of selected macro variables are defined based on the benchmarks given in the Social-Economic Strategy 2020 of the Georgian Government. G-EPI is comprised of 5 important macro indicators visible below the graph. It is designed for simplicity, making it easier for professionals and laypeople alike to understand and apply to the economy.

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Georgia has achieved significant success in the world in terms of the Ease of Doing Business, which is positively reflected in different ratings. This is an additional evidence that there is the lack of bureaucratic pressure together with the business-friendly environment in the country. Georgia’s ranking in 2017: 16th place among 190 countries. Overall distance to frontier (DTF) – 80.20 score (improvement by 2.48 points). Investment Freedom is the part of Open Market and Business Freedom is the part of Regulatory Efficiency. Georgia also has high scores in Fiscal Health (93.5 score in 2017), Trade freedom (88.6 score and on 9th position in the world in 2017) and Tax Burden (87.3 score).

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The EU and Georgia signed an Association Agreement on 27 June 2014. It has entered into force since 1 July 2016. The agreement introduces a preferential trade regime – the Deep and Comprehensive Free Trade Area (DCFTA). This regime increases market access between the EU and Georgia based on having better-matched regulations. Export …

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Governance consists of the traditions and institutions by which authority in a country is exercised. This includes the process by which governments are selected, monitored and replaced; the capacity of the government to effectively formulate and implement sound policies; and the respect of citizens and the state for the institutions that govern economic and social interactions among them. The Worldwide Governance Indicators (WGI) project reports aggregate individual governance indicators for over 200 countries and territories over the period 1996-2015, for six dimensions of governance.

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Georgia's population and economy are exposed to earthquakes and floods, with earthquakes posing the greater risk of a high impact low probability event. Just over half of Georgia's population lives in urban environments. The model results for risk shown in this risk profile are based on population and gross domestic product (GDP) estimates for 2015. This report covers the details of earthquakes and floods in top affected provinces of Georgia. When an earthquake has a 10-year return period, it means the probability of occurrence of an earthquake of that magnitude or greater is 10 percent per year.

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Based on the data of September 1, 2017, there are 664,057 registered business entities in Georgia, out of which only 173,629 are active. The economic unit is active if it meets one of the following criterias: Turnover > 0 (VAT, income and other declarations), Number of Employees > 0 (VAT, income and other declarations), Salary or number of employees> 0 (Salary announcements), Has a profit or loss (profit declaration), Pays any tax except for property taxes, The table below shows the business entity destribution in Georgia by regions.

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