28
June
2017
Since March 2017, the CCI has shown a positive trend. It yielded 9.1 increase from March 2017 (-31) to May 2017 (-21.9), expressing the optimistic perceptions of Georgians during these months. However, the CCI did not maintain this upward trend in June. Overall, in June the CCI went down by 3.2 points compared to May 2017 (from -21.9 to -25.1). Present Situation and Expectations Indices were also affected negatively in June 2017.
26
June
2017
An individual living in Kutaisi took a 1500 USD real estate secured loan from one of the microfinance institutions in 2011 and had to pay 75 USD interest rate for the following 6 months. The purpose of taking this loan was to finance treatment of her child. She was unable to cover monthly payments and prolonged the term to 10 month, but failed to cover this payments again and was fined several times.
24
June
2017
After the Rose Revolution, in the name of of economic growth, the Georgian government set aside environmental issues and focused on a quick economic recovery. This is understandable, as the Georgian economy was still recovering from the collapse of the early 90’s, and the pressure to accelerate the process was high. At that time, the existing environmental regulations were perceived as an additional constraint to faster growth, and as potentially fertile ground for corruption.
20
June
2017
Geostat has released its GDP growth estimate for the first quarter of 2017. The Q1 growth rate now stands at 5.1%, which is 1.6% above ISET-PI’s last forecasted value. Moreover, the average growth rate for the first five months of the year amounted to 4.5%.
20
June
2017
According to the preliminary statistics released by GeoStat, Georgia’s GDP in Q1 of 2017 grew by 5.0% YoY – the highest growth rate since Q3 2014. What lies behind such spectacular growth numbers? First and foremost, it stems from the genuine improvement in the economic situation in the region, which has resulted in increased exports, FDI, tourism, and remittances. Secondly, the sharp increase in the growth rate in December 2016 “lifted” the GDP base and allowed normal GDP improvements to look even better compared to last year’s levels.
