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Sunday, January 8, 2012

Georgia Economic Development Results in 2011 - The World Bank Ranking

In terms of GDP growth Georgia is among the top three nations in the world. This was stated by the Minister of Economy and Sustainable Development of Georgia Vera Kobalia at a press briefing several days ago where she was summing up the economic development results of 2011 in the Republic of Georgia.

According to its data. Turkey holds the first place, followed by Estonia. Georgia is in the third place

Kobalia noted that the forecast of real GDP growth of Georgia is better than that of countries such as Lithuania, Belarus, Armenia, Sweden, Poland, Slovakia, Germany etc.

The Minister also reported that, according to Doing Business World Bank ranking Georgia holds the first place on Registering Property out of 183 countries, and among the top ten on indicators such as building permits, starting a business, and financing.

Kobalia stressed that Georgia ranks second in the Corruption Perceptions Index.

Below you could see all key matrix results. Georgia plans total score improvement by 1 addition point in 2012. Out of top 10 parameters, Georgia shows progress in 8 of them

TOPIC RANKINGSDB 2012 RankDB 2011 RankChange in Rank
Starting a Business78up 1
Dealing with Construction Permits46up 2
Getting Electricity8991up 2
Registering Property12up 1
Getting Credit821up 13
Protecting Investors1721up 4
Paying Taxes4262up 20
Trading Across Borders5434up -20
Enforcing Contracts4140up -1
Resolving Insolvency109111up 2

Complete report could be seen here: