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GEORGIA Tenders




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Capital Tbilisi
ISO 3166 Code GE
Population 4,490,500
Area, Sq KM 69,701
Currency Lari
Official Language Georgian
GDP, Billion USD 15,829
GDP Growth Rate, % 5.0
Inflation, Avg CP, % Chng 5.0
Interest Rates, % N/A
Unemployement Rate, % n/a
Exchange Rate, 1 USD Equals 2.25
International dial code 995
Time Zone GMT+04:00
Internet TLD .ge

Georgia is a located in the Caucasus region of Eurasia and at the crossroads of Eastern Europe and Western Asia. Georgia is bordered to its west by the Black Sea, to its south by Armenia and Turkey, to its north by Russia, and to its southeast by Azerbaijan. Tbilisi is the capital as well as the largest of Georgia. It covers a territory of 69,700 square kilometers and the population of the country is almost 5 million. Georgia is a semi-presidentialand unitary republic where the government is elected through a representative democracy. Several independent kingdoms were established during the classical era in the region what is now known as Georgia. A unified Kingdom of Georgia reached its peak of the economic as well as political strength during the 11th and 12th centuries. The area was dominated by various large empires after that. In the late 9th century Russia annexed the area in the year the 1801. After Russian Revolution, Georgia enjoyed a brief period of independence in the year 1917 but it was soon occupied by Soviet Russia in 1921. Finally the country got its independence in 1991 but the post-communist Georgia suffered from various problems for most of the 1990’s out of which economic crisis and civil unrest were most common which lasted till the year 2003 which pushed the new government to introduce democratic as well as economic reforms. Some of the archaeological research shows that Georgia has been involved in commerce with several empires and lands since the ancient times mainly because of its location on the Black Sea and the historical Silk Road. Gold, copper and silver have been mined in the Caucasus Mountains. One of the oldest traditions of the country which is also a key branch of its economy is the Georgian wine making. Georgia also has sizable hydropower resources and throughout its modern history of tourism as well as agriculture have been prominent economic sectors. From the beginning of the 21st century,noticeable positive developments could be observed in the economy of Georgia. In the year 2007, the real GDP growth rate of Georgia reached 12 percent and made the country one of the fastest growing economies in Eastern Europe. The World Bank labeled Georgia as the number one economic reformer in the world asin terms of ease of doing business, it has improved from rank 112th to 18th in just one year. But the country also has an unemployment rate of 12.6% which is considered high.

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