Dr. Tamila Nutsubidze, a consultant at the Healthcare and Social Issues Committee and the Budget and Finance Committee of the Parliament of Georgia, visited ISET to talk about the challenges of the non-contributory pension system in Georgia.

In the first part of the presentation, Dr. Nutsubidze gave a short overview about social/non-contributory pension schemes. According to existing literature, there are possible connections between social pensions and poverty reduction among old age populations. Dr. Nutsubidze highlighted that in most middle-income countries, dependence on a non-contributory pension is caused by the expansion of a substantial coverage gap due to a reduction in the number of workers who contribute to pension schemes.

Tsotne Marghia, of the Class 2018, decided to apply for an MA research scholarship at the Shota Rustaveli National Science Foundation, following in the footsteps of another ISET student last year. Tsotne succeeded in being granted the scholarship, allowing him to purchase the necessary books and papers, as well as having the opportunity to attend conferences abroad.

The topic of his MA thesis is “Interdependence between Macroeconomic and Financial Stability Indicators: Macro-Feedback Effect”, a subject he decided to research after his internship at the National Bank of Georgia.

The international financial crisis of 2007-2008 has proved that financial stability is a key concept for understanding economic sustainability. Financial imbalances can lead to potentially harmful macroeconomic outcomes. Ignoring this concept may lead to misleading policy recommendations and decisions by policymakers.

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