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The Chance That Can’t Be Wasted

by Georgia Today
October 3, 2023
in Blog, Business & Economy, Magazine, OP-ED
Reading Time: 3 mins read
Prime Minister Garibashvili claims the Government of Georgia is doing its best to have peace, stability and high economic growth in the country. Source: gov.ge

Prime Minister Garibashvili claims the Government of Georgia is doing its best to have peace, stability and high economic growth in the country. Source: gov.ge

We could easily call today’s Georgia a peacefully developing country, one which is persistently avoiding any presumable new clash with Russia, imperturbably taking care of our people’s wellbeing by means of raising the standard of living with every possible means at hand, wisely manipulating its way through the intricate and disturbed labyrinth of contemporary international relations.

Although the general economic growth has diminished by 6% compared to the same period last year, we still have a solid reason to be optimistic, because export grew by almost 20% at the beginning of the current year, seeing us making over 3 billion American dollars. Thus, statistically speaking, the Republic is on the way of considerable progress in terms of selling whatever goods we are proficient enough to produce. It is the Georgian government’s priority to keep developing the qualitative local production, and, based on that, to stimulate and diversify the export opportunities. This was actually the dream of every generation of this nation’s ruling class for tens of years, because the conventional wisdom has it that a nation that is capable of internationally selling products of its own making has a realistic potential to survive and live well.

Export grew by almost 20% at the beginning of the current year, seeing us making over 3 billion American dollars

The economic tendency is clearly palpable in Sakartvelo, although the international background for growth is dire due to the war in Ukraine, and the various commercial and monetary obstacles thereof. The positive trend of economic growth is certainly encouraging, as is the curbing of inflation, but there is always a chance that the situation might be reversed at any moment, because the happy development is almost impossible when there is a devastating war raging next door and the current state of affairs is absolutely unpredictable. We are, after all, under threat of seriously menacing military developments in our part of the world. Many reliable political and economic analysts have already introduced the scary notion of the Afghanization of Ukraine. If this happens, they predict, the Ukrainian warfare might last for years to come, with a potential of restraining economic development not only in Georgia, but throughout the world. Although the West is openly optimistic about the finale of the war, the conflict still carries the prospect of many drastic economic changes in the world, among them dedollarization, introduction of new currencies for settling international financial transactions, creation of new economic alliances, and alteration of the power balance between the East and West. All of this will likely impact on Georgia’s forthcoming successful economic progress.

Image source: GETTY IMAGES/ISTOCKPHOTO
Image source: GETTY IMAGES/ISTOCKPHOTO

Strangely, and regrettably, the experts are divided on the issue of the war and its probable consequences, their opinions differing on a mind-boggling level, keeping us the regular rank-and-file in a position of a frustrating suspense. But who can know for sure what might happen to this destabilized, confused and impoverished world, where no human intelligence seems to be strong enough to settle life on Earth with words, not wars? To think reversely, even if the war ended today, it would take tens of years for the world to rebuild Ukraine, with the former wheat fields strewn with mines instead of seed-grain, carrying the potential of death for many years to come.

Whatever the variables that determine the economic growth in Georgia, they are good, acceptable and justifiable as long as the composition of the success is not unlawful

That said, how come that the Georgian economy is gathering momentum so quickly and vigorously, doing much better now than before the war? Well, let’s not blame Georgia for making life better for its people; let’s not attribute its economic success to having used the moment to mind its own business; let’s not reprimand its peace-thirsty people for taking care of their own happiness above all; let’s not rebuke ourselves for wanting to finally relax and feel that life is better than death. Georgia has had its share of strife and bloodshed, its portion of tears and widow’s weeds, its number of bereft mothers. We have had it all, and enough is enough! Whatever the variables that determine the economic growth in Georgia, they are good, acceptable and justifiable as long as the composition of the success is not unlawful. We can’t waste the given chance. Maybe the time has come when Sakartvelo’s once-emigrated sons and daughters should come back and take the future of the motherland in their now-skillful hands to keep the country on the right track of economic development and demographic ascension. Incidentally, we are always prone to end up talking about the bygone times of Georgia’s glory and greatness in the early medieval centuries, when kings like Tamar and David ruled the nation. Why can’t we be proud of ourselves in our own time, when national independence, democracy and freedom of speech reign like the most sovereign sociopolitical phenomena? Would it be too much to nurse such ideas?

Op-Ed by Nugzar B. Ruhadze

Tags: Nugzar B. Ruhadzethe Georgian economy
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