Following the collapse of the Soviet Union, the Georgian nation went through a process of rapid disinvestment and de-industrialization. It was forced to shut down industrial plants, sending scrap metal abroad, and workers into subsistence farming. Hunger has never become an issue thanks to the country’s moderate climate and good soil conditions, yet inequality and associated political pressures rapidly reached catastrophic dimensions, unleashing cycles of violence, undermining the political order, and inhibiting prospects of economic growth.

Policy Institute together with Japan Tabacco International (JTI) Georgia offers free of charge training program "Leaders in Development". The program is designed for policy makers, analysts, mid-level and senior executives from both public and private sectors. Senior decision makers as well as senior professional staff will find the program extremely useful for their work.

One of the most fundamental assumptions in mainstream economics is the rationality of humans. Yet, as argued by Timothy A. Pychyl, professor of psychology at Carleton University in Canada, frequently observed procrastinating behavior, i.e. the “needless voluntary delay” (Pychyl), cannot be reconciled with the rational man paradigm.

According to Geostat’s rapid estimates, real GDP grew by 3.4% in March, while the growth rate for Q1 stood at 2.3% year over year. The estimated first quarter growth was 0.5 percentage points less than ISET-PI’s GDP forecast for the quarter. We have updated our forecast for Q2 based on the new information and lowered it from 5% to 4.2%; at the same time, the Q3 forecast was revised upward to 4.3%.

ISET President Eric Livny and head of the Private Sector Development Policy Center Sophiko Skhirtladze held a training session for the staffers of the European Integration, Economic Affairs, and other Committees of the Georgian Parliament regarding the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union.