The average residential rental price first fell to 7.46 USD per m2 (a historical minimum since the start of the study) in October 2015, and after a slight peak in the following month reached 7.66 USD per m2 by the end of the year.
In August 2015, the average cost of cooking one standard Imeretian Khachapuri was 3.49 GEL, which is 11.4 % higher month-on-month (m/m, that is compared to the previous month), and 7% higher year-on-year (y/y, that is compared to the same month of last year).
The growth forecast for the third quarter of 2015 has not changed since last month and remains at 2.6%. The first forecast for the fourth quarter growth of 2015 has been targeted at 3.8%.
It is easy to understand what it means for an economy to be weak or strong. We know that a strong economy is characterized by low unemployment and high growth rates. Other desirable traits are, for example, low levels of poverty and income inequality, when all citizens enjoy reasonable standards of living.
The lari depreciation caused a significant decrease in sale and rental prices in dollar terms. Rental prices slightly increased in August and September before the start of the new academic year. The commercial market turned out to be more resistent to the effects of currency depreciation.