The Georgian Business Confidence Index (BCI)* has decreased slightly, reaching 27.0 index points, which is a -2.0 index point loss over the previous quarter. The third-quarter drop in the BCI was mostly driven by the notable decline of the Expectations Index, which judging from the previous quarter's findings, may be explained by private sector realignment with reality rather than by worsened economic conditions.

In July 2017, Georgian power plants generated 1,247 mln. kWh of electricity. This corresponds to an 18% increase in total generation compared to July 2016, when total generation of electricity was 1,061 mln. kWh. Generation also increased by 10% compared to June 2017 (1,138 mln. kWh).

Georgia’s flagging agricultural sector is receiving assistance from a number of international governments, organizations, and institutions, and ISET is right at the heart of efforts to revitalize this essential part of the national economy.

On July 18, 2017, Mr. Nicola Mariani, managing partner of Dechert Georgia LLC, visited ISET within its Summer School programme and discussed economic reforms, political transition, and development organized by the International School of Economics (ISET).

Georgia is a favorable investment destination, with a simple tax code consisting of six flat taxes and a total tax rate of only 16% on commercial profits that are distributed. Georgia was ranked 16th on the World Banks Ease of Doing Business for 2017 (by contrast, Switzerland is No. 31 and Norway No. 6), and No. 13 on the Bribery Risk Scale of the “Trace”, an International Transparency Rank (Switzerland is No. 16 and Norway No. 5). Georgia has signed an Association Agreement with the EU, is a member of WHO, has ratified the Energy Charter Treaty, and signed the New York Convention.