05
June
2015
Creativity is the ability to produce new ideas and to find innovative solutions to problems. It is crucial for economic growth because creative ideas translate into new products and more efficient technological processes, which, in turn, generate new (more productive) jobs and better (more competitive) products.
03
June
2015
According to Geostat’s rapid estimates, Georgia’s economy grew by 4.3% in March 2015. After the slowdown of the last several months, the growth rate in February and March looks very promising. In the first quarter of 2015, GDP growth amounted to 3.2%. In March, VAT payers’ turnover increased by 9.9% annually, and the total consumption of electricity increased by 6.2%.
01
June
2015
Most development practitioners subscribe to the view that vibrant small-and-medium enterprises (SMEs) are crucial for the health of a country’s economy. The SME sector is crucial, the argument goes because it creates employment and serves as a hotbed of entrepreneurial talent. Additionally, SMEs are often seen as a source of new, fast-growing industries, contributing to a price-reducing and quality-improving competition with large and old firms that tend to dominate markets in small countries such as Georgia.
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%.
