Food loss and waste (FLW) management and administration is a multidimensional concept, one which encompasses prevention and waste management during food production; post-harvest activities and practices; food safety and hygiene; labeling and date indication; as well as official control and taxation (VAT, income tax, profit tax).
Over the past few years, food prices have been increasing and Georgia has been facing food price inflation in the double digits. This is primarily due to international market trends that reflect concerns over decreased production, increased crude oil prices, as well as COVID-19 pandemic-related restrictions. Russia’s full-scale invasion of Ukraine increased pressure on international food markets already struggling with soaring prices.
On March 14, the ISET Policy Institute organized a roundtable discussion on Food Prices, Price Controls, and their Potential Impact on Georgia’s Economy. The event was attended by experts from local and international institutions who shared their views and exchanged ideas on proposed policy solutions.
Russia’s invasion of Ukraine profoundly impacted the global economy, immediately sending shockwaves across the globe. The attack of a country that was once a major energy supplier to Europe on the country which was one of the top food exporters in the world, sent food and fuel prices spiraling, causing major energy shortages and the prospect of protracted recession in the United States and the European Union.
According to Geostat's report titled “Tendency of Economic Growth, Indicators of Monthly Economic Statistics”, the real GDP growth in the fourth quarter of 2022 is estimated to be 9.5%, which has contributed to an overall annual real GDP growth of 10.1% in 2022.