The economy of Georgia

In between Western Asia and Eastern Europe, better known as Eurasia, the country Georgia is located. The country is in close proximity to the black sea, Russia, and Turkey. Tbilisi is the largest city of the country and is also the capital city. According to records in 2016, Georgia is supposed to be a country with a population of an estimate of three million and seventy two thousand. (3.72 million) The official language is Georgian. Many Georgians follow Georgian Orthodox in the terms of religion. Today, Georgia is considered to be a country that is a unitary, semi presidential republic.

The economy is one of the biggest make it or break it factors in running a country. A low economy would mean a hard life style for citizens and especially to those who are not wealthy enough. This would result in calling in foreign investors and have the country gradually being taken over by a third party. Information on some of the best loan services in the country could be found on, sesxebion.ge and isesxe.com. To apply for an Online in the country, certain requirements would be to be a resident of Georgia, be over 18 years of age, have a bank account that operates, having a mobile phone and Email address that operates and be employed with a full rate or even with a half rate.

According to an estimate record made in the previous year (2016) the Gross Domestic Product (GDP) was around 14.46 billion dollars placing 114th in the world. The GDP structure is well diversified and placed in such a manner for sustainable growth in the Georgian economy. Georgia is expected to be one of the country’s with a maintenance of a steady growth in the upcoming years due to the annual growth rate in the years between 2010 to 2015 have reached a percentage of 4.9. Georgia was identified as the World’s number one economic reformer in 2007 by the World Bank.

When taking the Georgian debt into consideration, it is identified that the public debt performance of the country is in favor due to the debt ratios having been weakened since the year 2003. In the year 2015 almost 79 percent of the debt was external. In 2015, the Georgian Lari was depreciated to foreign currencies which is said to be the reason for the increase in public debt in the year 2016.

One of the main factors in the growth of the economy in a country would be price stability. In order to minimize fluctuations in the economy and maintain price stability, the National bank of Georgia depends on a command of inflation aiming. In 2016, the inflation rate was set at a target of 5%, 4% was set for the following year (current year, 2017) and the plans of the National Bank of Georgia for the year 2016 would be to target the inflation rate to drop down another percent making it 3%.

Georgia is one of the country’s to attract investors due to the climate and many opportunities.