The Economy of Georgia
Georgia’s economic freedom score is 76.2, making its economy the 16th freest in the 2018 Index. Its overall score has increased by 0.2 point, with a substantial improvement in property rights offsetting modest declines in government integrity, judicial effectiveness, and fiscal health. Georgia is ranked 9th among 44 countries in the Europe region, and its overall score is above the regional and world averages.
Since the 2003 “Rose Revolution,” reforms by successive administrations have reduced petty corruption, cut regulation, simplified taxes, opened markets, and developed transport and energy infrastructure. The government hopes that further reductions in regulation, taxes, and corruption will attract foreign investment and stimulate renewed growth. Its maintenance of monetary stability and overall sound fiscal health has fostered macroeconomic resilience. Nonetheless, deeper and more rapid institutional reforms to enhance judicial independence and effectiveness remain important for ensuring dynamic and lasting economic development.
Georgia was forcibly incorporated into the Soviet Union in 1921 and gained its independence in 1991. Russia invaded Georgia in 2008 and still occupies its South Ossetia and Abkhazia regions—about 20 percent of the country’s territory. In 2012, billionaire Bidzina Ivanishvili’s Georgian Dream coalition defeated President Mikheil Saakashvili’s United National Movement. Prime Minister Giorgi Kvirikashvili and Georgian Dream’s victory in the 2016 parliamentary elections reinforced the coalition’s political dominance. Georgia has been affected by the regional economic downturn. Agriculture and related industries employ over half of the workforce. Georgia signed an Association Agreement with the European Union in 2014 and is firmly committed to Euro-Atlantic integration and to securing visa-free travel to the Schengen Area in 2017.
The constitution protects property rights, including ownership, acquisition, disposal, and inheritance of property. Enforcement of contracts has improved.


One of the amazing place in Georgia

Vardzia - the monastery dating back to the twelfth century AD, located on the banks of the river Mtkvari, is one of the most outstanding sights of Georgia. Similar to the cave towns that can be found in Goreme region, Turkey, however this one is even bigger, this unique cave city, carved into the steep wall of the mountain Erusheti at an altitude of 1300 meters....