An average Georgian household spends more than 40% of its budget on food. Food prices are important determinants of access to food and stability of food security. In order to assess the stability of prices the paper looks at food price volatility for major commodities (not restricted to primary commodities only) consumed by Georgian households. Price volatility is important because both low and high prices affect different stakeholder groups (producers, consumers, exporters etc.) in different ways.
Agricultural input subsidy programs are meant to increase crop production, contributing in this way to improved food security and rise of incomes of stallholder farmers. An important goal of such programs is to develop efficient input supply systems, improving farmers’ access to inputs and adoption of new technologies (e.g., use of new seed varieties, fertilizers, and pesticides).
It is a well-known fact that nearly a half of the Georgian population is involved in agriculture, while Georgia imports around 60% of all the food it consumes. High food import share and food security are important issues for Georgia, widely discussed among the policymakers and in the media. One issue that remains largely in the shadows of public attention is Georgia’s struggle with nutritional deficiencies and unhealthy, undiversified diets.
On 25 May 2016 ISET faculty member and head of the Macroeconomic Policy Research Center at ISET's Policy Institute, Dr. Yaroslava Babych, was an invited panel speaker at the conference on Industrial Policy for the Development of Georgia, organized by the Centre for Social Studies of Georgia.
Georgians have revealed themselves to have overall low levels of financial literacy. Only 6% of respondents to a new research survey were financially literate, which naturally negatively affects the economic situation in the country. ISET's Policy Institute, together with TNS and TBC Bank, conducted the first-ever large-scale survey on financial literacy in Georgia.