Judging by Georgia’s average birth rate, it clearly belongs into the European family of nations. At 1.82 children per woman, according to the latest data, the Georgian nation is below (but still relatively close to) 2.1, the birth rate at which the population size remains steady. On average, the birthrate in Europe is around 1.5, which is significantly lower than it was only fifty years ago.

On April 17th, ISET was honored to welcome Her Excellency Ms. Maria van der Hoeven, Executive Director of International Energy Agency (IEA), a leading international institution in the energy sector. Prior to becoming Executive Director of IEA, Ms. van der Hoeven served as the Minister of Economic Affairs, the Minister of Education, Culture and Science, and a member of the parliament of the Netherlands.

Georgian reforms have become an internationally traded commodity. Underappreciated and no longer wanted at home, some of Georgia’s former reformers are doing well-paid consulting gigs in Mongolia, Central Asia, Ukraine, Moldova, and further away emerging markets. Sensing a business opportunity, a group of former government officials groomed by Kakha Bendukidze, the mastermind of Georgian reforms, has recently established a consulting agency, “Reformatics”.

After being steadily optimistic for most of 2014 and in the first quarter of 2015, Georgia’s business confidence dropped by 24.5 points to an all-time low level of 3.6 on a scale of [-100; 100] points. The survey, which included 168 firms, suggests that business confidence declined on all measures, across all sectors, and for all firm sizes. Moreover, it is reflected in business perceptions concerning both current performance and expectations concerning the future.

“Roulette until six in the evening. Lost everything”, notes Leo Tolstoy on July 14, 1857. He did not pen these words in Moscow or St Petersburg”, writes Elizabeth Neu. “It was in Baden-Baden that Tolstoy closed his diary with a sigh that night.”