Once again, Georgians across the country are preparing for the holiday season, making travel plans, crushing walnuts for gozinaki, and buying gifts for their friends and families. Gifts are an important part of celebrating the New Year and Christmas, signifying the importance of friendship and allowing us to treat our loved ones to something to start a brand new year in style.

We have recently updated the GDP series (the dependent variable in our model), using the revised GDP growth rates available from Geostat. Based on the new data, the forecast for GDP growth in the fourth quarter now stands at 3.5%.

After the early signs of rebounding seen in Q3 2015, the Georgian Business Confidence Index (BCI) has lost 3 points (on [-100/100 scale])1 on the weakening of business expectations.

The UNDP conference on agricultural extension, which took place on December 7-9th, featured a 45-minutes presentation of the Social Policy Research Center (SPRC) of ISET-PI. Professor Florian Biermann, head of the center, discussed some preliminary findings of the project “Farmer Knowledge Needs in Georgia”.

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.