03
February
2020
According to Geostat, the 2019 real GDP growth in Georgia was 5.1% year-over-year (YoY). This figure moderately surpassed NBG’s, ADB’s, EBRD’s, IMF’s and the World Bank’s latest growth projections for 2019, which range from 4.5%-4.7%. However, the real winner in this race was ISET-PI’s annual GDP growth forecast; in May 2019, we predicted a 4.9% annual growth.
31
January
2020
High and rising levels of foreign currency indebtedness have been an important topic in Georgia over the past several years. To address this issue and protect borrowers from currency risks, the National Bank of Georgia (NBG), as well as the Georgian Government have implemented regulations to hinder excess indebtedness. Let’s have a look at the timeline (Figure 1) of recent lending regulations and the accompanying monetary policy measures and observe their impact on changing lending patterns in the Georgian economy.
31
January
2020
Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2019, and their estimated growth stands at 5.3%, which is 0.7 percentage points above ISET-PI’s most recent forecast. The real GDP growth rate reached 3.8% year-on-year for December 2019.
17
January
2020
On the 17th of January, the Government of Georgia approved the Regulatory Impact Assessment (RIA) Methodology. This is an incredible step towards evidence-based policy-making that will contribute to the country’s economic development and future prosperity.
15
January
2020
On January 15, ISET had the privilege to host a living economic legend when Professor Erik S. Reinert visited the institute to participate in the Georgian-language launch of his book, How Rich Countries Got Rich, and Why Poor Countries Stay Poor. His work, which was originally published in 2007, has now been published in over twenty languages and remains one of the most widely-discussed economic works of recent years.
