Page 17 - GEORptDec17

Georgia Water & Power (GWP) supplies water to the residents of the Georgian capital of Tbilisi, treats wastewater and generates hydropower at two plants - Zhinvali and Tetrikhevi.
GWP also signed an agreement with the World Bank's private-sector arm, the International Finance Corporation (IFC), to enhance its water efficiency, overall environmental performance and competitiveness.
In a separate report, agenda.ge said that another World Bank affiliate, the International Bank for Reconstruction and Development (IBRD), signed an agreement with the Georgian government for a €44.6mn line of credit to support the country's business-oriented reforms and the competitiveness of the private sector.
4.4 Labour and income
4.4.1 Unemployment, income dynamics
Unemployment at 12% in 2016
Unemployment is an important challenge for Georgia, where 11.8% of the population was unemployed at the end of 2016. Of those who were employed, 57.5% were self-employed, many believed to be working in agriculture and to experience underemployment as a result.
Georgia’s monthly average gross salary rose by 5.4% y/y to GEL1,065.92 at end-2016. The monthly average salary stood at GEL989.40 in the first quarter of this year, up 8.4% y/y.
4.4.2 Retail sector dynamics
Retail sales in Georgia increased by 17.1% y/y in the third quarter of 2017, compared to a rise of 14% in the second quarter, according to CEIC data. In 2016, retail turnover totalled GEL28,283.3mn, an increase of 8.3% y/y.
The largest sectors of the economy - retail trade and manufacturing - increased by modest rates of 3.6% and 1.4% y/y, respectively, in 2016. Retail
17 GEORGIA Country Report December 2017 www.intellinews.com