During my morning shower, I like to think about Georgia’s economic prospects and how the country should develop.

ISET will be offering an exciting new course in the 5th mini-term – “Corporate Finance Applied to a Developing Economy.” The course will be taught by Paul-Henri Forestier, former Director of the European Bank for Reconstruction and Development in Georgia.

In my essay on economic development (“What worked”, MESSENGER, July 3/2013) I cited the High-Level Panel of Eminent Persons on “A New Global Partnership” (UN Publications, 2013) that aims at eradicating absolute poverty and transforming national economies through sustainable development. Thus, in the chapter on “goals and global impact,” the Panel stresses that poverty must be reduced while mitigating global climate change and promoting a “low-carbon trajectory”.

In May, sale and rental prices for residential property in Tbilisi were lower by 4.0% and 3.3% resectively than in the same month a year earlier. The selling prices of residential property declined in May, both in monthly and annual terms. Despite this, the trend line on Chart 1 indicates a tendency towards an overall price increase since Feb. 2013.

Speaking with managers of companies operating in Georgia, one frequently hears complaints about a lack of certain specialists in the Georgian labor market. For instance, firms operating in the construction sector are often forced to hire foreign experts, as they do not find sufficiently qualified engineers and architects in Georgia. The shortage is particularly pressing in technical subjects and the sciences.