The building of the Baku-T’bilisi-Ceyhan oil pipeline, the South Caucasus pipeline, and the Kars-Akhalkalaki Railroad have vastly increased Georgia’s ability to capitalise on its strategic location between Europe and Asia. The South Caucasus gas pipeline is set for expansion and will result in the largest ever FDI in the country. Previous to the 2008 conflict with Russia, GDP growth had been strong in the country (largely as a result of considerable FDI investment). The economy recovered across the 2010-2013 timeframe, but growth has not reached the levels it did prior to the global financial crisis in 2008/09. Unemployment is still high, and the governments continues to have a problem adequately collecting due tax receipts.
There is some positive news however. The country has received praise from the World Bank for its efforts in fighting corruption. There could be a bright future ahead following planned policies of further liberalisation and investment. The gains of these will be seen leading up to 2020 as capital is employed to strengthen the country’s energy, infrastructure and manufacturing sectors.
Report Data: 2015
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