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.

A researcher of the Private Sector Development Policy Research Centre, Olga Azhgibetseva, attended a three-week intensive training program in Sweden.

Geostat has updated its GDP growth estimate for the third quarter of 2016. The Q3 growth rate stands at 2.2%, which was 1.3% below the ISET PI’s forecasted value. As a result of the update, the growth forecast for Q4 of 2016 was revised downward to 2.9% from the 4.1% projected in October.

Structural transformation of the economy is one of the most important determinants of economic development. Almost invariably, nations that have managed to pull themselves out of poverty were able to diversify their economies away from low productivity sectors. In advanced countries, productivity differences between sectors are generally small, and growth mostly happens because of productivity improvements within sectors.