The estimated real GDP declined by 16.6% in April 2020 yearly and by 3.6 percent in the first four months of 2020. In April, the estimated real growth compared to the same period of the previous year posted negative in almost all activities, except mining and quarrying. Moreover, VAT payers’ turnover, used in rapid estimations of economic growth, dropped by 32.8% annually over the same period.

While COVID-19 pandemic had a negative impact on the current investment expenditure of Georgian ICT companies, investment and hiring is set to increase in the future for most firms in this sector.

May 11 saw the second discussion in ISET's ongoing series of international policy online panels which examine the possible socio-economic effects of the COVID-19 pandemic. The second panel was dedicated to what the higher education sector will look like when the pandemic is declared to be over.

International School of Economics at TSU (ISET) and ISET Policy Institute are holding second in the series of international Policy Panels – Re-imagining Higher Education Post-pandemic. It will focus on the impacts of COVID-19 on the higher education sector globally and will bring together top expert views on the longer-term prospects and challenges for the universities and students.

The consequences of COVID-19 on tourism and in the industrial and service sectors have been discussed broadly recently. However, little has been said about the current and future implications on the Georgian power sector. The worldwide pandemic has already had and is still expected to have, quite significant implications on both the demand and supply sides of the electricity market. Although at this stage, we cannot estimate the exact scale of the effects, it is possible to represent a general theoretical framework of the existing and potential impacts.