ISET-PI’s forecast of real GDP growth for the second quarter of 2017 has not changed and stands at 4.7%. The first estimate of the third quarter growth forecast is at 7.4%. The real GDP growth rate reached 5.1% year-on-year for April 2019. Consequently, the estimated real GDP for the first four months of 2019 amounted to 4.8%.

On the 5th of June 2019, ISET and the Caucasus Environmental NGO Network (CENN) signed a memorandum of understanding (MoU). Under the scope of this MoU, new courses will be offered as part of ISET’s Bachelors and Master’s Programs; in the former, a course in environmental economics and circular economy will be offered as an elective, while for the latter, a course in environmental economics by Prof. Hans Wiesmeth will be available.

An agro insurance program was started in September 2014. The program is subsidized by the state and eight insurance companies participate in the program. The insurance package covers losses caused by hail, flooding, and storms, as well as by autumn frost (covered only for citrus). Since the beginning of the program, 49.3 thousand farmers (unique beneficiaries) have purchased insurance.

The average cost of cooking one standard Imeretian khachapuri declined to 3.24GEL in May 2019. The price dropped by 6.4% month-on-month (compared to April 2019); however year-on-year prices have increased by 2.4% (compared to May 2018).

Looking at consumption and generation trends, it is evident that since August 2018 consumption typically exceeded generation. The negative generation-consumption gap also remained throughout April, amounting to 45 mln. kWh, with a total power generation of 966 mln. kWh and consumption of 1,012 mln. kWh. Yet why has the generation-consumption gap remained negative since August 2018? Should we also expect the negative gap to persist over the following months?