In just a couple of weeks Baku is going to host the second Formula One Grand Prix in its history. Being in love with motor races and inspired by the fact that for the first time in my life I will attend such an important race (and the Land of Fire); I tried to explore the economic impact of hosting expensive international events for one’s country.
On June 7, during his visit to Georgia, Mr. Anthony De Lannoy, the Executive Director of the IMF who represents Georgia along with the other 15 countries at the IMF Board of Directors, addressed an audience of ISET researchers, students, and management, as well as senior representatives of the National Bank of Georgia, with an overview of the IMF and its cooperation with Georgia.
APRC is working on a research to inform the Ministry of Environment and Natural Resources Protection of Georgia on the costs and benefits of climate change adaptation measures in agriculture of Georgia.
All over the world, the quest for technological innovation is proceeding with great intensity. Georgia is not an exception. While local universities are trying to build fab-labs (fabrication laboratories – small-scale workshops offering personal digital fabrication), the government has established the Georgian Innovation and Technology Agency (GITA) to support the creation of start-ups and tech companies.
By the end of May, ISET’s Retail Food Price Index increased by 5.5% y/y (compared to May 2016); on a monthly basis (compared to April 2017), retail food prices slightly decreased, by 0.4%. The largest bi-weekly price changes were recorded for seasonal food products such as fresh fruit and vegetables. Prices dropped the most for tomatoes (-28%), garlic (-21%), and cucumber (-8.3%).