Day: May 29, 2024

In 2023, the share of the population below the absolute poverty line in Georgia decreased by 3.8 percentage points and amounted to 11.8%, says the data published by the National Statistics Service of Georgia on May 29. Specifically, the absolute poverty rate in urban areas reached 9.4%, a decrease of 2.9 percentage points, while in rural areas it reached 15.6%, a decrease of 5.0 percentage points.

Source: Geostat

In 2023, the absolute poverty rate decreased across all age groups of the population, compared to the previous year. The indicator amounted to 16% in the age group under 18 years (-4.3 percentage points), 11.5% in the 18-64 age group (-3.8 percentage points), and 8% in the age group 65 and older (-2.5 percentage points). In addition, the data says the absolute poverty rates for women decreased by 3.9 percentage points, amounting to 11.5%, while for men it decreased by 3.7 percentage points, amounting to 12.2%.

Compared to the previous year, the value of the Gini coefficient remained unchanged
at 0.36 and 0.37 by total income and total inflows, respectively, while it increased by 0.02 for total
consumption expenditures, amounting to 0.36, and for total expenditures, it increased by 0.01,
reaching 0.40.

The Gini Index, also known as the Gini Coefficient, is a statistical measure of income or wealth inequality within a nation or social group, ranging from 0 to 1 (or 0% to 100%). A value of 0 represents perfect equality where everyone has the same income or wealth, while a value of 1 indicates perfect inequality where one individual or household holds all the income or wealth.

Also Read:

• 20/05/2024 – Georgia’s Foreign Trade Down 2.7% in January-April 2024
• 02/05/2024 – Georgia’s Annual Inflation at 1.5% in April 2024
• 30/04/2024 – Georgia’s GDP Up by 8.2% in March 2024