16
May
2014
In my essay on economic development (“What worked”, MESSENGER, July 3/2013) I cited the High-Level Panel of Eminent Persons on “A New Global Partnership” (UN Publications, 2013) that aims at eradicating absolute poverty and transforming national economies through sustainable development. Thus, in the chapter on “goals and global impact,” the Panel stresses that poverty must be reduced while mitigating global climate change and promoting a “low-carbon trajectory”.
13
May
2014
In May, sale and rental prices for residential property in Tbilisi were lower by 4.0% and 3.3% resectively than in the same month a year earlier. The selling prices of residential property declined in May, both in monthly and annual terms. Despite this, the trend line on Chart 1 indicates a tendency towards an overall price increase since Feb. 2013.
12
May
2014
Speaking with managers of companies operating in Georgia, one frequently hears complaints about a lack of certain specialists in the Georgian labor market. For instance, firms operating in the construction sector are often forced to hire foreign experts, as they do not find sufficiently qualified engineers and architects in Georgia. The shortage is particularly pressing in technical subjects and the sciences.
09
May
2014
In the 15th century, the Kingdom of Georgia started a painful process of disintegration from which it did not recover until the modern era, and ultimately, Georgia’s breakup at the end of the medieval age accounts for the regrettable fact that the country could not maintain its status as an independent nation (Florian Biermann and I discussed the cataclysmic Treaty of Georgievsk in our article about King Erekle II).
08
May
2014
After suffering a temporary setback in April 2014, the year-on-year growth rate in May is back to upper single digits (6.3%). However, macro indicators suggest that the economic landscape has hardly changed between April and May.
