11
May
2015
In the frames of the memorandum of understanding between ISET Policy Institute and the Business Association of Georgia (BAG), ISET-PI offered a compressed four-day training to the staff of the association. Senior researchers of the policy institute, Maya Grigolia, and Nino Doghonadze conducted the training in macroeconomics 101.
11
May
2015
The growth forecast for the 1st quarter of 2014 has been revised upward from 0.5% to 2.3%. The growth forecast for the 2nd quarter of 2014 has also revised upward from 1.6% to 4.3%. Meanwhile, Geostat has updated the GDP growth estimate for February 2015, it stands at 4.9%.
08
May
2015
The growth forecast for the 1st quarter of 2014 has been revised downward from 3.6% to 0.5%. The growth forecast for the 2nd quarter of 2014 has been targeted at a low 1.6%. Meanwhile, Geostat has updated the GDP growth estimate for January 2015, and similarly to our forecast, it stands at 0.5%.
24
April
2015
After the collapse of the Soviet Union it was believed that tourism might become one of Georgia’s “locomotive” sectors. While the Shevardnadze government failed to develop this potential, after the Rose Revolution, tourism became a top priority. Each year since 2005, the direct effect of tourism (i.e. the money spent by tourists) alone has contributed 6-7% of Georgia’s total GDP.
16
April
2015
According to Geostat’s rapid estimates, real GDP increased by 4.9% in February. This comes as welcome news after several consecutive months of low and, at times (November 2014), negative growth. ISET’s GDP forecast predicts 0.5% GDP growth in the first quarter of 2015. However, this is likely an underestimation of the true outcome, as the economy has already partially adjusted to the external shocks that were the main drivers of the slowdown.
