21
November
2016
Structural transformation of the economy is one of the most important determinants of economic development. Almost invariably, nations that have managed to pull themselves out of poverty were able to diversify their economies away from low productivity sectors. In advanced countries, productivity differences between sectors are generally small, and growth mostly happens because of productivity improvements within sectors.
12
November
2016
Under the Soviet system, farmers worked under strong central control; everyone knew what to do. Important economic decisions were not left to the market or decided by self-interested individuals. Instead, the government, which owned or controlled much of the economy’s resources, decided what, when, and how to produce. Along with providing necessary inputs, the state ensured that farmers had access to markets for their goods.
10
November
2016
According to Geostat’s rapid estimates, real GDP grew by 1.5% in September 2016, while the growth rate for Q3 stood at 2.2% year over year (YoY). The estimated third-quarter growth was thus 1.3 percentage points lower than ISET-PI’s GDP forecast for the quarter. One should note that the data from September are likely to include a very high services component (revenues from the tourism sector). Therefore, the quarterly growth number is likely to be revised upward in the future as more data comes in.
01
November
2016
The project aims to estimate the impact of foreign students on Georgia’s economy. Since 2013, ICMPD has been carrying out the EU-funded project “Enhancing Georgia's Migration Management” (ENIGMMA). The project assists the Georgian government in managing and improving the conditions for migrants in Georgia.
20
October
2016
The IMF’s projection for real GDP growth in Georgia in 2017 was revised upward to 5.2% from the predicted 4.5% in April. This is the highest projected regional growth rate and is certainly very encouraging. Despite this, Georgia remains a small economy, where GDP growth has always been highly correlated to the economic performance of its large trading partners.
