Transformation of the economy of post-communist Georgia on the 30th anniversary of the restoration of independence

Abstract

30-year period of economic transformation in Georgia took place with certain difficulties; the first 10 years were especially painful, when the absolute annual decrease of the gross domestic product amounted to 1.5 billion GEL. The annual average decline of GDP was 8.91%. In the second and third decades, the situation improved to some extent, however, due to the difficulties caused in the first decade, the annual average absolute growth rate for the entire 30 years was 114 million GEL, and the average annual GDP growth rate was 0.4%. The successes achieved in the economy of Georgia in recent years  is not unnoticed by the International Monetary Fund and the World Bank, which considered Georgia to be the most successful country in the post-Soviet space in terms of economic reforms. The results could have been better in terms of successful cohabitation, which is delayed in Georgia.  According to the last time periods, the growth of the GDP of Georgia is characterized by a double-digit rate.