The ISET Economist Blog was recognized as one of the three most informative online media in Georgia at the award ceremony of the EU Prize for Journalism 2015. This prestigious prize is the first of its kind in Georgia to acknowledge excellence in written press, TV, radio, and social media reflecting high journalistic standards and contributing to a better understanding of European values.

Just like Duddy Kravitz, Georgian men (and women) appear to be reluctant to part with their parcels of land, however small and unproductive. Whatever the reason, Georgia sees almost no structural change out of agriculture, and, as a result, very low productivity and income growth for the poorest strata of its population. As of today, employment (or, rather, under-employment) in agriculture is a staggering 45% of Georgia’s total labor force.

The year 2015 was one of turbulence. It was a year in which the institutional foundations of the Georgian economy were tested. However, as our analysis shows, the country’s macroeconomic institutions exhibited remarkable resilience in the face of various shocks. This bodes well for future growth prospects. Thus, in the spirit of Lewis Carroll’s adage “take care of the sense, and the sounds will take care of themselves” we can give one piece of advice to Georgian policymakers: take care of the foundations, and the facade will take care of itself.

The Investor Council (IC), coordinated by the EBRD, has been established in 2015 to provide a dialog platform between Georgia’s major business associations and government. Co-chaired by Georgia’s PM Giorgi Kvirikashvili and EBRD Director for the South Caucasus, Belarus, and Moldova, Bruno Balvanera, IC’s February 17 meeting focused on three key issues.

Ancient Greeks’ fascination with Georgia was not limited to the Golden Fleece. Legend has it that ‘Georgia’ comes from the Greek γεωργός (Georgios), reflecting the advanced land plowing practices of Georgian tribes, which distinguished them from their nomadic and yet unsettled neighbors. The Georgians (Colchians and Iberians, to be more precise) must have really made a formidable impression on the Argonauts to deserve such recognition.