The Economic Repercussions of Covid-19 and Well-Being in Georgia

Two years of Pandemic (Georgian Perspectives)

“…The two years of the pandemic triggered health and economic problems in Georgia and throughout the world. This period in Georgia was characterised by economic shocks such as a raised unemployment rate, decreased foreign direct investments, and decreased gross domestic product, especially at the beginning of the spread of the coronavirus infection [12]. In the first stage of the pandemic, the major lockdown in social and economic life caused a big failure in the market mechanism of the entire country [13].…”

“…The present has largely remedied the severe effects of the COVID-19 depression, but this crisis has not yet been fully fixed [17]. The most damaged sector in Georgia and different regions during the pandemic was the service sector, especially accommodation and food service activities [12]. According to data from Geostat, in 2020, the share of GDP of economic activities such as accommodation and food service in comparison with the previous year declined sharply, almost 46%, but some economic sectors increased, including mining and quarrying; household activities as employers; undifferentiated goods and services producing activities of the household for own use; and education.…”