On December 12-14, two ISET-PI researchers, Maka Chitanava and Giorgi Mzhavanadze attended the Good Jobs for Inclusive Growth in Central Asia and South Caucasus study finalization conference in Kuala Lumpur, Malaysia. This study was commissioned by the Asian Development Bank (ADB) and implemented by eight Central Asian and South Caucasus countries.

During the last 10 months (January-October, 2016) 605 new buildings with total area of 1 202 828 sq.m have been supplied to the real property market. This represents 53.6% and 74.2% growth, respectively, over the same period last year.

Citizens of Georgia’s capital recently witnessed the luxurious Biltmore Hotel Tbilisi grand opening. A $140 million investment by the Dhabi Group supplied the market with 214 luxury rooms and suites. The $2 million opening, huge building, and central location (right on Rustaveli Avenue) made the appearance of this hotel on the market very noticeable.

The average cost of cooking one standard Imeretian Khachapuri in November 2016 stood at 3.46 GEL, which is 1.9% higher month-on-month (compared to October 2016). The Khachapuri Index is down by 5.6% year-on-year (compared to November 2015), suggesting annual deflation as measured by the index.

The Georgian Business Confidence Index (BCI) has decreased by 7.4 percentage points (-7.4, QoQ), but at 17.6 it remains higher than it was in the same quarter last year (12.0). The fourth-quarter decrease in the index was mostly driven by a significant decline in expectations.