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Mariam Katsadze
Ana Burduli
Giorgi Papava

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Business Confidence Index
ISET Policy Institute, working in partnership with BIA (Business Information Agency) and International Chamber of Commerce in Georgia (ICC), started to implement the Business Confidence Survey from December 2013 and will publish the Business Confidence Index (BCI) on quarterly bases. Business confid
ence for Georgia is measured by seven sector-specific indices focusing on services, retail trade, agriculture, manufacturing industry, financial service, construction and other sectors. For each sector, confidence is measured through a simple survey instrument targeted at top business executives.
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Business Confidence Index: Kvirikashvili effect – Q1 2016
16 March 2016

The Georgian Business Confidence Index (BCI) has gained 3 points (on a [-100/100 scale])1 due to the strengthening of business expectations. All of a sudden, the expectations of the private sector in Georgia improved and reached 38 index points. This is an improvement from 16 points in the fourth quarter of 2015.
Business Confidence Index: expectations catching up with reality - Q4 2015
15 December 2015

After the early signs of rebounding seen in Q3 2015, the Georgian Business Confidence Index (BCI) has lost 3 points (on [-100/100 scale])1 on the weakening of business expectations.
Business Confidence Index: signs of recovery – Q3 2015
15 July 2015

After the sharp decline in Q2 2015, business confidence (BCI) in Georgia showed signs of rebounding in Q3. In line with expectations, April, May, and June were ex-post not particularly favorable months for Georgian businesses.
Business Confidence Index: BCI is at all time low, and points to growing pessimism among entrepreneurs – Q2 2015
15 April 2015

After being steadily optimistic for most of 2014 and in the first quarter of 2015, Georgia’s business confidence dropped by 24.5 points to an all-time low level of 3.6 on a scale of [-100; 100] points. The survey, which included 168 firms, suggests that business confidence declined on all measures, across all sectors, and for all firm sizes. Moreover, it is reflected in business perceptions concerning both current performance and expectations concerning the future.
Shaken by weak consumer demand – Q1 2015
15 January 2015

The Business Confidence Index decreased slightly and registered 24.5 points in Q1 (previous quarter BCI was 24.9). Decrease in the retail sector business confidence is marginally the highest. This is driven by a sizeable drop in Consumer Confidence. Consumer Confidence Index (CCI) fell sharply since November 2014. The sales price expectations turned from negative to positive in the first quarter of 2015. Insufficient demand remains the most limiting factor for doing business in Georgia.
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