Countries with the fastest growing demand for electricity

Since 2009, growth of electricity consumption per capita in Georgia is the fastest in Europe and Central Asia region. according to the World Bank’s survey, over the period between 2000-2009, demand for electricity grew by 1.9% and from 2010 to 2014 – by 8.5%. With such a rate, Georgia is ahead of all the countries of the region. Growth of demand for electricity in other countries of the region is as follows:

Georgia - 2010-2014 years – increase: 8.5%

Republic of Kirgizstan – 7.7%

Azerbaijan – 6.1%

Kazakhstan – 4.6%

Albania – 4.6%

Turkey – 4.2%

Armenia – 3.4%

Bosnia and Hercegovina – 3.1%

Turkmenistan – 2.6%

Belarus – 2.2%

Poland – 2%

World Bank links the growing demand for electricity with cryptocurrency mining. According to the Bank’s survey, 5% of households in Georgia are involved in cryptocurrency mining and investing. WB notes that the incomes generated from mining may greatly contribute to the country’s GDP, although such an income may not be officially registered. Besides, the Bank states that investing in cryptocurrencies facilitates attraction of direct foreign investments.

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S&P assessing the Georgian banking system

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S&P assessing the Georgian banking system

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