Georgia ranks 29th in world in business corruption index

Georgia ranks 29th of 194 counties in a Business Bribery Risk Index 2021, while in 2020 the country ranked 28th in the list, Trace International reports.

The country risk score is calculated based on four domains:

• Business interactions with government
• Anti-bribery deterrence and enforcement
• Government and civil service transparency
• Capacity for civil society oversight (including the role of media)

According to the Institute for Development of Freedom of Information (IDFI), Georgia's corporate corruption score has dropped three points since 2017.

On an international basis, Denmark has the lowest risk of commercial corruption, while North Korea has the greatest risk.

Denmark, Norway, Sweden, Finland, New Zealand, Germany, the Netherlands, Switzerland, the United Kingdom, and Canada are the countries with the lowest corporate bribery risks.

In terms of other South Caucasian nations, Azerbaijan is ranked 140th while Armenia is ranked 47th.

Georgia is expected 6% economic growth in 2022

Georgian Finance Minister Lasha Khutsishvili has stated that the government expects 6% economic growth in 2022, with nominal GDP of 65 billion GEL ($20.7 billion / €18.21 billion), and GDP per capita exceeding $5,500 by the end of the year.

Georgia will 'completely' rebound to pre-pandemic economic levels, according to Khutsishvili, and sustain a 'strong pace of economic development.'

Khutsishvili continued, "We have already returned three-fourths of the economic loss we experienced in 2020 in 2021."

The Georgian economy saw 12% growth in the first eight months of 2021, the National Statistics Office of Georgia reported.

The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7% in 2021 and 5.8% in 2022.