The adapted version of the website for people with disabilities was developed by the National Statistics Office of Georgia (Geostat) with the support of the United Nations Development Program (UNDP) and the Government of Sweden.
The adapted version of the website for people with disabilities was developed by the National Statistics Office of Georgia (Geostat) with the support of the United Nations Development Program (UNDP) and the Government of Sweden.
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Date: 4 October 2022
GEOSTAT started calculating a monthly Construction Cost Index (CCI), which represents the average price level of construction materials and services needed for the construction of various types of buildings in the reporting period, compared to the base period. The mentioned index is an important macroeconomic indicator, which is necessary to evaluate the country's investment environment, as well as to make planning and decisions in the construction sector.
In April of this year, according to Decree #753 of the Government of Georgia dated April 27, 2022, regarding the basis, principles, and rules of using price indexation for the purpose of promoting the implementation of infrastructure projects, GEOSTAT was assigned to develop the appropriate index, according to which the compensation of price indexation will be carried out in the manner approved by the above-mentioned decree.
It should be noted that from 2018 until now, GEOSTAT has been producing a quarterly index of the construction cost which was created with the help of Swedish statistics experts, although it only included the segment of residential buildings. The new index includes both residential and non-residential construction segments, as well as civil construction. It is designed in full compliance with international methodology, taking into account the experience of different countries around the world.
Since one of the most important components of the CCI is the labor costs incurred in the construction process, a new monthly periodicity survey was introduced to create the index, to determine the average monthly wages of construction workers.
In case of methodological or other additional questions about the index, you can contact the Department of Price Statistics by phone: 236 72 10 (400/405), or by e-mail: gtetrauli@geostat.ge
