- International Republican Institute - IRI
- Macroeconomic policy
- Media & democracy
Agriculture makes an important contribution to economic development in Georgia. Value added in agriculture accounted for 9.3% of Georgian GDP in 2013 and 53.4% of employment (World Bank, 2014a). Agriculture also provides an essential basis for the food, beverages and tobacco processing industries, which together accounted for just over one-third of value added in manufacturing in Georgia in 2010.
While in an ideal world the qualification preferences of job seekers and employers would coincide, in reality this is often not the case. Besides informational asymmetries (job seekers not knowing which qualifications are demanded by employers) the reason is that employers may be in need of qualifications that are not considered attractive by the job seekers.
When Ukrainian President Victor Yanukovich decided not to sign the association agreement with the European Union and instead opted for a Russian package of long-term economic support, many Ukrainians perceived this not to be a purely economic decision. Rather, they feared this to be a renunciation of Western cultural and political values, and – to put it mildly – were not happy about this development.
Due to the geomorphological characteristics of its territory and to its geographical location, the Re- public of Georgia is rich in hydro resources. According to the Georgian Ministry of Energy and Natural Resources, so far Georgia has exploited only about 20% of its hydro resource potential.
Central banks are often surrounded by an aura of mystique and the common man on the street seems to have very little understanding not only of what, why, and how exactly a central bank does, but most importantly of how much a central bank actually can do. It is commonly believed that the job of a central bank is to print money, which sounds rather trivial.