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The World Bank (June 2021) estimates that global GDP growth will reach 5.6% year over year (y/y) in 2021. Though thus rebound is uneven, with growth concentrated mainly in advanced economies and developing countries set for a slower recovery.
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The COVID-19 outbreak had a devastating effect on the Georgian economy in 2020. Real GDP contracted by 6.1% according to Geostat’s rapid estimates of economic growth. This was the worst performance of real GDP growth in the country in more than two decades.
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ISET would like to thank the Japanese embassy for organizing and sponsoring our latest public lecture, graciously arranged by ambassador Akira Imamura. The ambassador kindly addressed the audience and offered his introductions to Professor Masahiko Takeda, who went on to pose a captivating presentation on the history and future of the Japanese economy.
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This report highlights the derivation of sector-specific output (revenue), employment, and investment multipliers based on the Input-Output framework for the Georgian economy, which portrays the potential spillover effects of an increase in final demand for the products of a given sector on the whole economy.
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The COVID-19 pandemic has led to widespread economic distress in many countries around the world. For the first time since 2009, the world’s gross domestic product (GDP) is expected to have declined in 2020. Alongside other sectors of the economy, such impacts are also being felt by the food and agricultural sector. The pandemic has affected food security and nutrition, supply chains, food and livestock production, and food safety.