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.

In May 2017, the Consumer Confidence Index (CCI) sustains its upward trend, increasing by 3.6 points compared to April (moving from -25.6 to -21.9). Its first component, the Present Situation Index, rises by 3.4 points (from -32.8 to -29.4), and its second component, the Expectations Index, goes up by 4.2 points (from -18.5 to -14.3).

ISET-PI’s forecast for the second quarter of 2017 was revised upward from 4.4% to 5.9%. Meanwhile, Geostat has updated its GDP growth estimate for the first quarter of 2017. The Q1 growth rate stands at 5%, which is 1.8 percentage points above the forecast.

On Tuesday, April 11, ISET hosted Warwick University Professor Omer Moav. Professor Moav delivered a profoundly interesting lecture to the ISET community about the work that he and his colleagues have worked on together, specifically a revolutionary hypothesis about the emergence of social and political hierarchies in early agrarian societies.

This research paper intended to supplement and complement the following economic policy strategies and plans of the Georgian government in the areas of sustainable and balanced growth.