https://www.confiduss.com/en/jurisdictions/georgia/economy/ Economy of Georgia

Georgia is considered a developing country. A nation's stage of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Georgia may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Georgia exports about US$2.62 billion and imports about US$7.06 billion every year. 11.5% of the country's population is unemployed. The total number of unemployed in Georgia is 449,320. In Georgia, 16% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Georgia is quite high, but it is not a cause for great concern in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 3.2% of GDP. The country's Gini index is 46. Georgia experiences poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Georgia has a Human Development Index (HDI) of 0.744. Georgia has an upper middle HDI score. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Georgia is 1.973. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Georgia is very safe in international comparison. The Index of Strength of Legal Rights for Georgia is 9. Overall, it is considered quite strong – bankruptcy and collateral laws can protect the rights of borrowers and lenders quite well; Credit information is plentiful and easily accessible.

Currency
The currency of Georgia is the Georgian Lari. There are several plural forms of the name "Georgian lari". These are Lari, Lari. The symbol used for this currency is ლ, abbreviated as GEL. Georgian lari is divided into tetri; There are 100 in a lari.

Credit rating
The credit rating depth index for Georgia is 8, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the credit rating agency S&P, Georgia has a credit rating of BB- and the prospects for this rating are stable. According to the rating agency Fitch, Georgia has a credit rating score of B+ and the prospects for this rating are positive. According to the rating agency Moody's, Georgia has a credit rating of Ba3 and the prospects for this rating are stable.

Central bank
In Georgia, the institution that manages the state's currency, money supply, and interest rates is called the National Bank of Georgia. Locally, the Central Bank of Georgia is called საქართველოს ეროვნული ბანკი. The average interest rate on deposits offered by local banks in Georgia is 8.4%.

National debt
Georgia has a public debt of 48.1% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate income tax in Georgia is 15%. VAT in Georgia is 18%.

Finances
Total Gross Domestic Product (GDP) valued as Purchasing Power Parity (PPP) in Georgia is US$34345 billion. The gross domestic product (GDP) per capita in Purchasing Power Parity (PPP) in Georgia was last at 9 million US dollars. PPPs in Georgia are considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Georgia is 16,127 billion.