According to Geostat estimates, real GDP grew by 4.3% year over year (YoY) in April 2016. Although the growth rate showed an upward trend from the beginning of the year, the ISET-PI forecast for Q2 and Q3 has remained at 4.2% and 4.3%, the same as in previous predictions. This means that the real growth rate is expected to stabilize at the 4-4.5% level in the next months.

Transparify, an organization that examines the financial transparency of think tanks throughout the world, has declared ISET a global leader and granted it the Transparify Award.

In the year of elections, any piece of economic analysis is usually seasoned with a hefty dose of caution. Every analyst is aware of the fact that the incumbents will be too eager to oversell the ‘good’, while the opposition will pound on the ‘bad’. Weary of taking sides in political battles, economists usually switch on their primary defense mechanism: they start relying (heavily) on the annoying “on the one hand”, “on the other hand” kinds of phrases. I am of course referring to Georgia in the year 2016.

ISET students Ana Akoposhvili and Ketevan Melkadze came second place in the Mariam Kutelia Research Grant competition. They took part during their internship at a USAID-funded project, Restoring Efficiency to Agricultural Production. The purpose of the competition was to write proposals on how to improve the current state of the Georgian agricultural sector. The ISET students were awarded another paid internship at the Agricultural Policy Research Center (APRC) between April 15 and June 15.

On June 14, Maksim Obrizan, a Professor of the Kiev School of Economics, gave a presentation entitled “The Impact of War on Happiness: The Case of Ukraine” at ISET. According to Mr. Obrizan, his work was influenced by cases and papers described in Frey and Stutzer (2002) and Stutzer and Frey (2012), and the impact of wars according to Blattman and Miguel (2010). This has become a particularly poignant topic for Professor Orbizan, as more than 100 Ukrainian soldiers have committed suicide since coming off the front line in the ongoing war against Russian-backed separatists. Previous papers on war and happiness suggest that in 44 countries, the intensity of the war reduces happiness (Welsh 2008).