Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2016. The estimated growth stands at 1.2%, which is 1.7% lower than the value forecasted in the last update of our model. Given the latest data, Georgian real GDP growth in 2016 is estimated as having been 2.2% (0.5 percentage points lower than projected by our model).
In 1991, the former finance minister of Chile, Alejandro Foxley, said in an interview: “We may not like the government that came before us. But they did many things right. We have inherited an economy that is an asset.”
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.