KNOWLEDGE BANK

Georgia has improved all components included in the Global Competitiveness Index and reflected it in the Macroeconomic Environment. One of the main progress Georgia made from 2012 to 2016 in Macroeconomic Development ranking side was improvement in Government Budget Balance as % of GDP and as a result country took 45th position compared to 87th position. Monetary freedom is part of the index of economic freedom and the development in this field should also be underlined.

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There were 14 licensed insurance companies operating in Georgia by the end of 2016. In total, they attracted insurance bonuses in amount of 393,038,614 GEL in 18 different types of insurance (including 60% of the full bonus on the first three ones). According to insurance types, medical insurance has 45% of the market share (76% of the attracted bonus was on the three leading types of insurance. insurance companies reimbursed 231,862,996 GEL during the whole year.

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There were 14 licensed insurance companies operating in Georgia by the end of 2016. In total, they attracted insurance bonuses in amount of 393,038,614 GEL in 18 different types of insurance (including 60% of the full bonus on the first three ones). According to insurance types, medical insurance has 45% of the market share (76% of the attracted bonus was on the three leading types of insurance. insurance companies reimbursed 231,862,996 GEL during the whole year.

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Economic Freedom Index of Heritage Foundation indicates how government support the economic freedom of private individuals and business. In the economically free countries government promotes labour, capital and commodity in free movement and development. Index is based on 4 components (and 10 sub-components). They are: Supremacy of law (right to …

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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. Standard …

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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. Conformity …

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Economic freedom index of Fraser Institute indicates how state’s policy and it’s institutions support country’s economic freedom. Index is measured on the base of following components’ analysis: Government size: the costs of the government, taxes and state enterprises Legal structure and protection of property rights Stable currency Freedom of international …

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One could find 74 poultry and livestock slaughterhouses operating in Georgia, in June 2017. 65% of these slaughterhouses were in 4 regions (Kvemo Kartli, Kakheti, Imereti & Shida Kartli). 74.4 thousand heads of livestock were slaughtered in the first quarter of 2017,  56.3% were cattle and  43.7% - small livestock (sheep, goat, pig etc). Number of slaughtered poultry reached 2,463.2 thousand. Totally 91.9 thousand heads of livestock have been slaughtered in the 2nd quarter of 2017 including 49.9% of cattle and 50.1% small livestock. The number of slaughtered poultry was 2,499.1 thousand.

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3,978,657 tourists arrived in Georgia in January-July 2017, (17%, i.e. 572,195 people - more than the data of the first 7 months in 2016). Most tourists came from Azerbaijan (928,170), Armenia (851,759), Russia (726,214) and Turkey (672,363) - the number of tourists from neighboring countries (3,178,506 people) reached 80% of the total number of tourists.

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Domestic visitors in Georgia made several tours during a year – totally up to 13 mln visits were organized in 2016, which exceeds the data of 2015 by 5%. Most of internal visits were conducted for meeting friends and relatives (52.5%), small number of visits were made for shopping (12.3%) and treatment/health (11.1%), visits aimed at resting, entertaining and recreation composed 9%.

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