According to recently released statistics, the Georgian economy continued on a stable trajectory of low- single-digit growth in September and October. The rapid growth estimates for October show 3% GDP growth, definitely an improvement over the 2.2% growth in September. The estimated average real GDP growth rate in the first ten months of 2015 was 2.8% year on year.

ISET is happy to announce that Mariam Menteshashvili was promoted to a new position at the Georgian State Electrosystem (GSE). Mariam graduated from ISET with a concentration in International Trade in 2011. Before her promotion, she had been working in the International Project Coordination and Accounting Department of GSE. In this department, her responsibilities were to prepare tender documentation and monitor agreements concerning projects.

Consumer Demand Analysis for a Private Company, JSC Sarajishvili. 2015 increase in alcohol excise taxes has led to price increase on majority of JSC Sarajishvili’s products. As a consequence the company experienced sharp decline in sales of its products.

In the last two weeks of November, Retail FPI decreased by 0.3%. Prices increased in the fruit and vegetable category. Grape price increased by 47%, tomatoes by 17.3% and eggplant by 12%. Unlike other fruits, tangerines, which are late to arrive to the market, went down in price by more than 30%.

The Government of Georgia (GoG) intends to create a national agricultural insurance program to achieve the following objectives: (i) developing the agricultural insurance market in Georgia; (ii) supporting agricultural production and increasing the competitiveness of farmers; and (iii) supporting the income of people involved in agricultural activities and minimizing their risks.