Day: October 19, 2023
The World Bank has issued the Systematic Country Diagnostic (SCD) Update for Georgia. The report, titled “Georgia: Keeping the Reform Momentum,” provides a comprehensive analysis of development challenges related to poverty and sustainable prosperity, as well as recommendations.
The SCD Update states that Georgia has shown remarkable resilience to shocks and growth has rebounded strongly in 2021 and 2022, but risks and uncertainties remain exceptionally high. According to the report “economic growth has remained robust despite shocks, driven by capital accumulation.”
However, “consistent with the slowdown in the labor contribution to growth, poverty reduction has
slowed in recent years, as income from wages has decreased.” It’s noted that Georgia has struggled to create quality jobs, and labor force participation has declined.
Also, although Georgia has made significant strides in access to social services, “the human capital formation is undermined by quality constraints, particularly in education”. The report highlights that “Georgia has experienced natural capital degradation, partly driven by lack of sustainable agricultural practices and inefficient land use, and has so far been unable to decouple carbon emissions for economic growth.
The report suggests clear policy objectives for Georgia: strengthening the quality of education, improving land use, adaptation to climate change, and building resilience to shocks. Other important areas include increasing labor force participation, boosting access to finance, digitalization, innovation, investing in energy efficiency, supporting renewable energy development, and improving the enforcement and predictability of laws and regulations.
Report also identifies four High-Level Outcomes (HLOs):
- (i) enhanced creation of good quality jobs by boosting productivity;
- (ii) improved and more equitable human capital;
- (iii) enhanced readiness to climate change and the
green transition; - and (iv) improved resilience to shocks.
“Georgia has a solid foundation but needs to step up reforms in order to achieve inclusive and sustainable growth in the face of global trends such as the climate transition or digitalization and automation,” – said Rolande Pryce, World Bank Regional Director for the South Caucasus.
The SCD Update has been prepared following consultations with the government officials, representatives of the private sector, development partners, civil society organizations, and academia.
The previous SCD report, titled “Georgia: from Reformer to Performer” was published in 2018, and it laid the foundation for understanding Georgia’s economic growth and inclusion challenges. The 2023 SCD Update builds upon the foundation and addresses the rapidly changing mega trends that require increased focus on resilience.
Also Read:
- 21/07/2023 – Deputy Minister of Economy Speaks Black Sea Electricity Cable at the World Bank
- 16/06/2023 – World Bank Highlights Georgia’s Economic Growth in Latest Report
- 14/06/2023 – US State Department: Full Enforcement of Sanctions Will Not Harm Georgia’s Economy
- 26/01/2023 – Opinion | Education Needs Changes, Changes Need Educated Society
On October 18, Sergei Shamba, the so-called “Secretary of the Security Council” and “ex-Prime Minister” of occupied Abkhazia, asserted that Abkhazia is a “part of the Russian world” during a round table called “Cultural and Social Space of Abkhazia and Russia” held in Sokhumi, according to the Russian state-owned news agency “Ria Novosti”.
Shamba emphasized that there is a strong bond between Abkhazia and Russia, noting their “enduring connection” despite the dissolution of the Soviet community and adding that “Abkhazian society is attuned to the Russian world and takes part in the creation of the Russian world. We want to be and are a part of this [Russian world] “.
Regarding the role of the Russian language in the region of Abkhazia, Shamba highlighted its contribution to Abkhazia’s understanding of global culture. He stated: “It must be said that Russian society also absorbed many traditions and some cultural aspects. And this enrichment was mutual. Of course, the great Russian culture, influenced to a greater extent the formation of many nationalities during the Russian Empire and the Soviet Union. Abkhazia has always attracted the attention of the Russian creative intelligentsia – writers, artists and many others”.
Also Read:
Grigol Liluashvili, the chief of the State Security Service of Georgia (SSSG), said that the French investigative services have not contacted the Georgian government about the father of Arras terrorist.
A few days earlier, media reports surfaced, suggesting that the father of 20-year old Mohammed Mogouchkov, who attacked and killed a teacher in Arras (France) on October 13, lives in Georgia “where he has not yet been questioned.” The terrorist was reportedly strongly imbued with jihadist ideology and influenced by his father, who was expelled from France in 2018.
Asked by journalists to follow up on this information, Grigol Liluahsvili said: “This [case] is being investigated by the French investigative services. As far as I know, they have not reached out to the Georgian side for legal assistance.” He added: “Usually the request for legal assistance is sent and then the investigation is planned. As far as I know, that hasn’t happened”.
Also Read:
The World Bank has issued the Systematic Country Diagnostic (SCD) Update for Georgia. The report, titled “Georgia: Keeping the Reform Momentum,” provides a comprehensive analysis of development challenges related to poverty and sustainable prosperity, as well as recommendations.
The SCD Update states that Georgia has shown remarkable resilience to shocks and growth has rebounded strongly in 2021 and 2022, but risks and uncertainties remain exceptionally high. According to the report “economic growth has remained robust despite shocks, driven by capital accumulation.”
However, “consistent with the slowdown in the labor contribution to growth, poverty reduction has
slowed in recent years, as income from wages has decreased.” It’s noted that Georgia has struggled to create quality jobs, and labor force participation has declined.
Also, although Georgia has made significant strides in access to social services, “the human capital formation is undermined by quality constraints, particularly in education”. The report highlights that “Georgia has experienced natural capital degradation, partly driven by lack of sustainable agricultural practices and inefficient land use, and has so far been unable to decouple carbon emissions for economic growth.
The report suggests clear policy objectives for Georgia: strengthening the quality of education, improving land use, adaptation to climate change, and building resilience to shocks. Other important areas include increasing labor force participation, boosting access to finance, digitalization, innovation, investing in energy efficiency, supporting renewable energy development, and improving the enforcement and predictability of laws and regulations.
Report also identifies four High-Level Outcomes (HLOs):
- (i) enhanced creation of good quality jobs by boosting productivity;
- (ii) improved and more equitable human capital;
- (iii) enhanced readiness to climate change and the
green transition; - and (iv) improved resilience to shocks.
“Georgia has a solid foundation but needs to step up reforms in order to achieve inclusive and sustainable growth in the face of global trends such as the climate transition or digitalization and automation,” – said Rolande Pryce, World Bank Regional Director for the South Caucasus.
The SCD Update has been prepared following consultations with the government officials, representatives of the private sector, development partners, civil society organizations, and academia.
The previous SCD report, titled “Georgia: from Reformer to Performer” was published in 2018, and it laid the foundation for understanding Georgia’s economic growth and inclusion challenges. The 2023 SCD Update builds upon the foundation and addresses the rapidly changing mega trends that require increased focus on resilience.
Also Read:
- 21/07/2023 – Deputy Minister of Economy Speaks Black Sea Electricity Cable at the World Bank
- 16/06/2023 – World Bank Highlights Georgia’s Economic Growth in Latest Report
- 14/06/2023 – US State Department: Full Enforcement of Sanctions Will Not Harm Georgia’s Economy
- 26/01/2023 – Opinion | Education Needs Changes, Changes Need Educated Society
On October 18, Sergei Shamba, the so-called “Secretary of the Security Council” and “ex-Prime Minister” of occupied Abkhazia, asserted that Abkhazia is a “part of the Russian world” during a round table called “Cultural and Social Space of Abkhazia and Russia” held in Sokhumi, according to the Russian state-owned news agency “Ria Novosti”.
Shamba emphasized that there is a strong bond between Abkhazia and Russia, noting their “enduring connection” despite the dissolution of the Soviet community and adding that “Abkhazian society is attuned to the Russian world and takes part in the creation of the Russian world. We want to be and are a part of this [Russian world] “.
Regarding the role of the Russian language in the region of Abkhazia, Shamba highlighted its contribution to Abkhazia’s understanding of global culture. He stated: “It must be said that Russian society also absorbed many traditions and some cultural aspects. And this enrichment was mutual. Of course, the great Russian culture, influenced to a greater extent the formation of many nationalities during the Russian Empire and the Soviet Union. Abkhazia has always attracted the attention of the Russian creative intelligentsia – writers, artists and many others”.
Also Read: