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From Russia with cash: Georgia booms as Russians flee Putin’s war

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From Russia with cash: Georgia booms as Russians flee Putin’s war


  • Not less than 112,000 Russians transfer to neighbour Georgia
  • Georgia set to be one among fastest-growing economies
  • Some locals being priced out of housing, schooling
  • Economic system might face laborious touchdown if newcomers go away

TBILISI, Nov 5 (Reuters) – As warfare chokes Europe, a small nation wedged beneath Russia is having fun with an surprising financial growth.

Georgia is on target to turn out to be one of many world’s fastest-growing economies this 12 months following a dramatic inflow of greater than 100,000 Russians since Moscow’s invasion of Ukraine and Vladimir Putin’s mobilisation drive to drum up warfare recruits.

As a lot of the globe teeters in direction of recession, this nation of three.7 million individuals bordering the Black Sea is anticipated to document a vigorous 10% progress in financial output for 2022 amid a consumption-led growth, in line with worldwide establishments.

That may see the modest $19 billion economic system, well-known within the area for its mountains, forests and wine valleys, outpace supercharged rising markets resembling Vietnam and oil exporters resembling Kuwait buoyed by excessive crude costs.

“On the financial facet, Georgia is doing very properly,” Vakhtang Butskhrikidze, CEO of the nation’s largest financial institution TBC, informed Reuters in an interview at its Tbilisi headquarters.

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“There’s some form of growth,” he added. “All industries are doing very properly from micros as much as corporates. I am unable to consider any trade which this 12 months has issues.”

Not less than 112,000 Russians have emigrated to Georgia this 12 months, border-crossing statistics present. A primary massive wave of 43,000 arrived after Russia invaded Ukraine on Feb. 24 and Putin moved to quash opposition to the warfare at residence, in line with the Georgia authorities, with a second wave coming after Putin introduced the nationwide mobilisation drive in late September.

Georgia’s financial growth – whether or not short-lived or not – has confounded many specialists who noticed dire penalties from the warfare for the ex-Soviet republic, whose financial fortunes are carefully tied to its bigger neighbour via exports and vacationers.

The European Financial institution for Reconstruction and Improvement (EBRD), for instance, predicted in March the Ukraine battle would deal a serious blow to the Georgian economic system. Likewise the World Financial institution forecast in April that the nation’s progress for 2022 would drop to 2.5% from an preliminary 5.5%.

“Regardless of all expectations that we had … that this warfare on Ukraine could have vital unfavorable implications on the Georgian economic system, thus far we do not see materialization of those dangers,” stated Dimitar Bogov, the EBRD’s lead economist for Jap Europe and the Caucasus.

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“Quite the opposite, we see the Georgian economic system rising fairly properly this 12 months, double digits.”

But the stellar progress shouldn’t be benefiting everybody, with the arrival of tens of 1000’s of Russians, many tech professionals with loads of money, driving up costs and squeezing some Georgians out of elements of the economic system such because the housing rental market and schooling.

Enterprise leaders additionally fear that the nation might face a tough touchdown ought to the warfare finish and Russians return residence.

TO GEORGIA WITH $1 BILLION

Georgia itself fought a brief warfare with Russia in 2008 over South Ossetia and Abkhazia, territories managed by Russian-backed separatists.

Now, although, Georgia’s economic system is reaping the advantages of its proximity to the superpower – the 2 share a land border crossing – and a liberal immigration coverage which lets Russians and folks from many different nations stay, work and arrange companies within the nation with no need a visa.

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Moreover, these fleeing Russia’s warfare are accompanied by a wave of cash.

Between April and September, Russians transferred greater than $1 billion to Georgia by way of banks or money-transfer companies, 5 occasions larger than throughout the identical months of 2021, in line with the Georgian central financial institution.

That influx has helped push the Georgian Lari to its strongest stage in three years.

Roughly half of the Russian arrivals are from the tech sector, in line with TBC’s CEO Butskhrikidze and native media shops, chiming with surveys and estimates from trade figures in Russia that pointed to an exodus of tens of 1000’s of highly-mobile IT employees after the invasion of Ukraine.

“These are high-end individuals, wealthy individuals … coming to Georgia with some enterprise concepts and rising consumption drastically,” stated Davit Keshelava, senior researcher on the Worldwide College of Economics at Tbilisi State College (ISET).

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“We anticipated the warfare to have numerous unfavorable impacts,” he added. “However it turned out fairly totally different. It turned out to be optimistic.”

NO ROOMS IN TBILISI

Nowhere is the influence of the brand new arrivals extra evident than within the capital’s housing rental market, the place elevated demand is aggravating tensions.

Hire in Tbilisi is up 75% this 12 months, in line with an evaluation by TBC financial institution, and a few low-earners and college students are discovering themselves on the centre of what activists say is a rising housing disaster.

Georgian Nana Shonia, 19, agreed a two-year deal for a metropolis centre house at $150 a month, simply weeks earlier than Russia invaded. In July, her landlord kicked her out, forcing her to maneuver to a tough neighbourhood on the sting of town.

“It used to take me 10 minutes to get to work. Now it is a minimal of 40, I’ve to take a bus and the metro and infrequently get caught in visitors jams,” she stated, attributing the change in market dynamics to the surge of newcomers.

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Helen Jose, a 21-year-old medical pupil from India, has been crashing at her pal’s for a month after her hire doubled over the summer season break.

“Earlier than it was very straightforward to seek out an house. However so lots of my pals have been informed to go away, as a result of there are Russians prepared to pay greater than us,” she stated.

College figures have additionally reported vital numbers of scholars delaying their research in Tbilisi as a result of they can not afford lodging within the metropolis, Keshelava at ISET stated.

‘THE CRISIS COULD HIT’

TBC’s Butskhrikidze stated he noticed potential within the new arrivals to fill expertise gaps within the Georgian economic system.

“They’re very younger, technology-educated and have data – for us and for different Georgian corporations that is fairly a helpful alternative,” he stated.

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“A key problem for us is know-how. And sadly on that facet we’re competing with high-tech corporations in america and Europe,” he added. “To have a fast win, these migrants are very useful.”

Nonetheless, economists and companies stay involved about longer-term unfavorable results from the warfare, and what would possibly occur ought to the Russians return residence.

“We do not construct our future plans on the newcomers,” stated Shio Khetsuriani, the CEO of Archi, one among Georgia’s largest real-estate improvement corporations.

Even with rental costs surging, Khetsuriani says improvement corporations usually are not eager to over-invest within the housing market, particularly with costs for supplies and gear rising. Whereas landlords could also be cashing in on surging rents, revenue margins for house gross sales have barely shifted, he stated.

Economists additionally warning the growth might not final, and are encouraging the Georgian authorities to make use of wholesome tax revenues to pay down debt and construct up overseas foreign money reserves whereas they will.

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“We now have to bear in mind that every one these components which can be driving progress this 12 months are momentary, and it doesn’t assure sustainable progress within the following years, so subsequently warning is required,” stated Bogov on the EBRD.

“Uncertainty continues to be there and the disaster might hit Georgia with some delay.”

Reporting by Jake Cordell; extra reporting by David Chkhikvishvili; enhancing by Man Faulconbridge and Pravin Char

Our Requirements: The Thomson Reuters Belief Ideas.



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Why Georgia’s ruling party is pushing for the foreign agent law—and how the West should respond

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Why Georgia’s ruling party is pushing for the foreign agent law—and how the West should respond


On May 14, the Georgian parliament passed a controversial “foreign agent” law during its third and final hearing. The legislation would require organizations receiving more than 20 percent of their funding from other countries to register as “organizations serving the interests of a foreign power.” The bill has prompted fierce backlash from critics who argue that it is intended to crack down on opposition to the ruling party and align Georgia closer to Russia and away from the West. President Salome Zurabishvili plans on vetoing the bill, but the parliament can override her veto. Large, ongoing protests in Tbilisi have revealed how unpopular this foreign agent legislation is. So, why is the ruling Georgian Dream party still pushing it forward? And how should the West respond if the bill passes into law?

Electoral advantage

Georgian Dream stands to benefit from the adoption of the foreign agent law ahead of parliamentary elections in October. Civil society in Georgia has historically exerted a significant influence on the country’s politics. For example, it played a pivotal role in the 2012 elections by contributing to voter education and election monitoring.

However, the main vulnerability that Georgian nongovernmental organizations (NGOs) and civil society organizations face is financial reliance on international donors. Civil society organizations in Georgia receive more than 90 percent of funding from foreign sources, according to a 2020 report. Targeting their funding streams right before the elections seems to be a logical step for a ruling party that intends to eliminate influential and potentially opposing voices before the elections.

But many argue that Georgian Dream could win the October parliamentary elections without this legislation. After all, the ruling party is ahead in the polls and there have been reports that Georgian Dream has been leveraging administrative power to influence the elections. Extreme divisions have made it almost impossible for the Georgian opposition parties to form a coalition that could counter Georgian Dream. If anything, by introducing the foreign agent bill, Georgian Dream has united the opposition as well as the broader population in defense of Georgia’s European future.

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Why, then, did Georgian Dream decide to move forward with this unpopular bill, knowing all too well it would trigger protests and antigovernment narratives just a few months before the elections?

Ivanishvili’s influence

Bidzina Ivanishvili, the richest man in Georgia and the founder and honorary chairman of Georgian Dream, could be key to understanding why the party took this self-destructive step. He exerts exceptional influence on the government’s decisions and actions.

Ivanishvili delivered a speech on April 29, during which he defined NGOs as agents nurtured by a global force that, in his telling, is responsible for getting Georgia and Ukraine into wars with Russia. He believes that the introduction of the foreign agent law ahead of the elections was necessary because NGOs were trying to change electoral laws, acting in the interest of the “global party of war,” which, he believes, intends to engineer a revolution in Georgia.

The combination of Ivanishvili’s views and a ruling party that executes his every decision with no questions asked is putting the Georgian people’s safety and future at risk. A sensible and nuanced Western response is needed to support the Georgian people.

The regional trend

The adoption of the Russian-style foreign agent law seems to be a regional trend, not just a Georgian phenomenon. Hungary, Kyrgyzstan, and Georgia all started actively pushing for foreign agent laws in 2023. Hungary implemented foreign agent legislation in December 2023, and Kyrgyzstan adopted its own in April 2024.

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Three states in Eastern Europe and Eurasia pushing to adopt Russian-style foreign agent laws almost at the same time might not be a coincidence. It is possible Russia is inspiring or even pressuring the ruling parties. After all, Moscow’s influence in these countries would likely increase if the NGOs and civil society organizations in these countries were to lose funding from international donors.

Kremlin spokesperson Dmitry Peskov has defended Georgian Dream’s reintroduction of the foreign agent law and stated that it is in Moscow’s interests that the situation in Georgia is “stable and predictable.” Russian President Vladimir Putin has also reaffirmed ties with Hungary’s nationalist Prime Minister Viktor Orbán and claimed that Russian-Kyrgyz relations are developing in all directions.

The European Union (EU) has already launched legal action against Hungary in response to the introduction of this law. But Georgia and Kyrgyzstan are not EU member states, and so the same legal route is not available.

What the West should and should not do

It is crucial for the international community—especially the EU, the United States, and the United Kingdom—to support the will of the Georgian people. This means aiding Georgia’s pro-European president in her challenge to the ruling party’s actions. It also means seeking accountability for the ruling class that defies the will of its people and is impeding Georgia’s Euro-Atlantic integration, a goal that is written into Georgia’s constitution.

The EU should reconsider measures that could harm the Georgian population, such as the potential suspension of current visa-free travel. It would not help the situation to punish the wider Georgian population for the ruling party’s actions.

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The international community and donors must continue their support for civil society organizations in Georgia, especially in the lead-up to the October elections. Despite the legal ramifications of the new bill and the anticipated crackdown on the civil society sector, sustaining funding streams is crucial for bolstering civil society’s monitoring capacity. This is vital for ensuring transparent and fair electoral processes in October and providing Georgia with an opportunity for another peaceful transition of power.

The many EU and Georgian flags carried through the streets of Tbilisi in recent weeks make clear where most Georgians’ view their future. The West must do what it can to help keep them headed in that direction.


Maia Nikoladze is the assistant director at the Economic Statecraft Initiative within the Atlantic Council’s GeoEconomics Center. Follow her at @Mai_Nikoladze.

Ana Lejava is a policy associate at the Georgetown Institute for Women, Peace and Security and a former Young Ambassador of Georgia to the United States. Follow her at @AnaLejava

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Related Experts:
Maia Nikoladze

Image: Demonstrators hold a rally to protest against a bill on “foreign agents”, near Georgian Parliament building, in Tbilisi, Georgia, May 13, 2024. REUTERS/Irakli Gedenidze





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Georgia softball live score updates in first round NCAA Regional vs. UNCW

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Georgia softball live score updates in first round NCAA Regional vs. UNCW


Georgia softball will begin its run in the 2024 NCAA Tournament as the No. 11 seed against UNCW on Friday in the Athens Regional.

The game is scheduled for 5:30 p.m. ET on ESPN+ following the first game of the day between Liberty and Charlotte at Jack Turner Stadium. This is a double elimination tournament, with the winner advancing to the Super Regionals against the winner of the Los Angeles Regional, which houses national No. 6 seed UCLA, Grand Canyon, San Diego State and Virginia Tech.

This is the second time Georgia has hosted back-to-back regionals, dating back to the triple host gig they had between 2014-2016. It is the 23rd straight NCAA Tournament made by Georgia, not including the canceled 2020 season. Georgia had advanced to last year’s super-regional rounds. The Bulldogs have advanced to the Women’s College World Series five times, last in 2021, never bringing home the title.

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The Bulldogs (39-16) lost to 2-seeded Florida in the SEC Tournament quarterfinals.

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What channel is Georgia vs. UNCW?

TV channel: ESPN+

Livestream: WatchESPN

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Georgia softball start time vs. UNCW

Date: Friday, May 17

Time: 5:30 p.m. ET

Location: Jack Turner Stadium; Athens, Ga.

Georgia softball live score updates vs. UNCW

Georgia softball 2024 schedule

Date & Time Opponent Location Results
Feb. 9 (Red & Black Showcase) @ 3:30 p.m. Murray State Athens W, 11-0 (5 inn.)
Feb. 9 (Red & Black Showcase) @ 6 p.m. South Dakota Athens W, 4-0
Feb. 10 (Red & Black Showcase) @ 1 p.m. Murray State Athens W, 2-0
Feb. 10 (Red & Black Showcase) @ 3:30 p.m. Purdue Athens W, 6-1
Feb. 11 (Red & Black Showcase) @ Noon Purdue Athens W, 5-1
Feb. 15 (Shriners Children’s Clearwater Inv.) @ 1 p.m. Wisconsin Clearwater, Fla. W, 7-6 (10 inn.)
Feb. 16 (Shriners Children’s Clearwater Inv.) @ 1 p.m. Oklahoma State Clearwater, Fla. W, 7-4
Feb. 16 (Shriners Children’s Clearwater Inv.) @ 1 p.m. UCLA Clearwater, Fla. W, 7-2
Feb. 17 (Shriners Children’s Clearwater Inv.) @ 1 p.m. Florida State Clearwater, Fla. W, 20-10 (5 inn.)
Feb. 17 (Shriners Children’s Clearwater Inv.) @ N/A Minnesota Clearwater, Fla. Canceled
Feb. 23 (Georgia Classic) @ 5:30 p.m. Virginia Tech Athens L, 4-5
Feb. 24 (Georgia Classic) @ 12:30 p.m. Virginia Tech Athens W, 7-5
Feb. 24 (Georgia Classic) @ 3 p.m. Radford Athens W, 10-1 (6 inn.)
Feb. 25 (Georgia Classic) @ 1 p.m. Dartmouth Athens W, 8-1
Feb. 28 @ 5 p.m. Clemson Athens W, 2-1 (8 inn.)
March 1 (DeMarini Inv.) @ 3 p.m. Cal Palo Alto, Calif. W, 4-2
March 1 (DeMarini Inv.) @ 5:30 p.m. Boise State Palo Alto, Calif. W, 4-1
March 2 (DeMarini Inv.) @ 4:30 p.m. Cal Palo Alto, Calif. L, 2-7
March 2 (DeMarini Inv.) @ 7 p.m. Stanford Palo Alto, Calif. Canceled
March 3 (DeMarini Inv.) @ 3 p.m. Stanford Palo Alto, Calif. L, 1-3 (9 inn.)
March 8 (Bulldog Classic) @ 6 p.m. Miami (OH) Athens W, 13-2 (5 inn.)
March 9 (Bulldog Classic) @ 1 p.m. Jacksonville State Athens W, 9-0 (5 inn.)
March 9 (Bulldog Classic) @ 3:30 p.m. Miami (OH) Athens W, 6-4
March 10 (Bulldog Classic) @ 1 p.m. Jacksonville State Athens W, 8-6
March 10 (Bulldog Classic) @ 3:30 p.m. Furman Athens W, 7-0
March 13 @ 6 p.m. Georgia Tech Athens W, 6-3
March 15 @ 6 p.m. Alabama Athens W, 4-2
March 16 @ Noon Alabama Athens W, 11-3 (5 inn.)
March 17 @ Noon Alabama Athens L, 4-5
March 20 @ 6 p.m. Georgia Southern Athens W, 17-1 (5 inn.)
March 23 @ 2 p.m. Ole Miss Oxford, Miss. W, 7-0
March 23 @ 5 p.m. Ole Miss Oxford, Miss. W, 10-7 (8 inn.)
March 24 @ 2 p.m. Ole Miss Oxford, Miss. W, 4-1
March 27 @ 6:30 p.m. Kennesaw State Kennesaw W, 10-1 (5 inn.)
March 30 @ Noon Arkansas Athens L, 2-3
March 31 @ Noon Arkansas Athens W, 8-2
April 1 @ 7 p.m. Arkansas Athens L, 2-8
April 3 @ 6 p.m. Mercer Athens W, 8-1
April 5 @ 6 p.m. Tennessee Knoxville, Tenn. L, 1-5
April 6 @ Noon Tennessee Knoxville, Tenn. W, 3-2
April 7 @ 11 a.m. Tennessee Knoxville, Tenn. L, 1-3
April 10 @ 6 p.m. Georgia Southern Athens W, 5-0
April 12 @ 6:30 p.m. Kentucky Lexington, Ky. L, 5-7
April 13 @ 2 p.m. Kentucky Lexington, Ky. W, 6-4
April 14 @ 2 p.m. Kentucky Lexington, Ky. L, 2-6
April 17 @ 6 p.m. USC-Upstate Athens W, 8-0
April 19 @ 6 p.m. Missouri Athens L, 2-4
April 20 @ Noon Missouri Athens W, 4-2
April 21 @ Noon Missouri Athens W, 4-2
April 26 @ 6 p.m. Florida Athens L, 1-9 (5 inn.)
April 27 @ 11 a.m. Florida Athens W, 11-6
April 28 @ Noon Florida Athens L, 7-10
May 3 @ 5 p.m. Mississippi State Starkville, Miss. L, 0-2
May 4 @ 1 p.m. Mississippi State Starkville, Miss. W, 5-0
May 5 @ Noon Mississippi State Starkville, Miss. L, 1-2
May 8 (SEC Tournament, round 1) @ 5 p.m. Auburn Auburn, Ala. W, 6-5
May 9 (SEC Tournament, round 2) @ 5 p.m. Florida Auburn, Ala. L, 4-9
May 17 (NCAA Regionals, round 1) @ 5:30 p.m. UNCW Athens
May 24-26 (NCAA Super Regionals) TBA Campus sites
May 30-June 6 (Women’s College World Series) TBA Oklahoma City



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Ultimate BBQ States study reveals Georgia's barbecue habits

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Ultimate BBQ States study reveals Georgia's barbecue habits


IN OTHER NEWS – A new study recently released ahead of National Barbecue Day reveals Georgia’s barbecue habits.

Release:

With National Barbecue Day fast approaching (May 16th), Casino.org conducted an extensive US barbecue culture study. This includes a nationwide survey and a weighted index involving various factors: barbecue habits, flavor preferences, states boasting the best grill skills, biggest spenders, and an analysis of the most passionate BBQ-loving states. 

Here’s how Georgia scored: 

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  • Despite their intense love for BBQ, Georgia ranks #13 in the top BBQ-loving states ranking, with a score of 54.3/100  
  • The low score is due to residents participating in an average of 2.7 BBQ-like events and dining out at BBQ joints just 6.4 times throughout the year  
  • However, residents fire up their grill 16.8 times on average throughout the year, spending $97.60 per BBQ – that’s $1,639.68 annually  
  • Georgians rate their grill skills a 3.6 out of 5, more than the national average (3.5) 
  • Ideal BBQ plate: chicken wings (25%), corn on the cob (44%), mac and cheese (18%), with ketchup (41%) as the go-to condiment  

You can find the full study here, showcasing more of America’s BBQ habits and nationwide rankings.  



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