11
January
2014
The growth forecast for the 4th quarter of 2013 has been revised downward from 5.2%to 4.9%. The forecast for the first quarter of 2014 has also been reduced from 6.5% to 5.7%. Given the Geostat data for the first three quarters and the ISET-PI forecast for the 4th quarter, the annual growth rate for 2013 is projected to be 2.6%.
08
December
2013
2013 was a challenging period for Georgia. Elections, political and policy instability contributed to the significant slowdown in economic growth. Apart from the internal factors, external factors also contributed to the slowdown. According to the International Monetary Fund (IMF) data, world economic growth has decreased from 3.2% to 2.9% and IMF forecasts that the world will catch higher growth rates in the following years.
18
November
2013
In our last week’s article, we examined Georgia’s economic growth in the 12 months before the 2012 parliamentary elections. In particular, we reviewed the popular argument that much of this economic growth was driven by the “political business cycle” effect of public (over)spending prior to the elections.
15
March
2013
On March 4, 2013, Andrew Burns, Manager of Global Macroeconomics in the Development Prospects Group of the World Bank, presented a report – “Global Economic Prospects – Assuring Growth Over Medium Term”, for ISETers.
15
February
2013
It is a commonly accepted view that corruption is bad for economic growth. It leads to an inefficient allocation of resources by contradicting the rules of fair competition and by setting wrong incentives.
