07
May
2018
Since 2012, when the political party Georgian Dream took leadership of the country’s governance, economic [real] growth reached its highest rate in 2017 (5.0%). The drivers of this growth were construction (11.2%), hotels and restaurants (11.2%), and the financial sector (9.2%). However, a few sectors of the economy declined in 2017, and one was agriculture (-2.7%).
26
April
2018
2017 was a challenging year for Georgian agriculture. There is a decline in the level of sown areas, which decreased by 10.5% in 2017 compared to 2016. 214.9 thousand ha in 2017 is the lowest figure for the last four years. Average yields and production decreased for most crops, as well.
07
April
2018
Blockchain technology became a huge story last year due to the hype over cryptocurrencies such as Bitcoin and Etherium. Banks and other financial institutions are rushing to adopt blockchain technology. Nowadays, about 15% of financial institutions use blockchain technology to secure and validate transactions. IBM was one of the first companies that saw the potential of blockchain use and encouraged startups related to the concept.
20
March
2018
The Agricultural Policy Research Center (APRC) of the ISET Policy Institute has launched a new monthly analytical publication – the Agri Review. The goal of the publication is to summarize the major economic developments in the agricultural sector and provide a brief analysis of major economic indicators.
20
March
2018
During the last decade, real GDP of Georgia has been steadily increasing, while share of agriculture has been decreasing. The share of agricultural output in total GDP decreased from 6.7% on 2016 to 6.2% in 2017. Agricultural output decreased in absolute terms as well by 2.6% in 2017 compared to 2016.
