The real GDP growth rate reached 5.7% y/y in October 2019. As a result, the estimated real GDP growth for the first ten months of 2019 was 5.1%. ISET-PI’s real GDP growth forecast for the fourth quarter of 2019 remains at 4.4%.
On November 13, the Agricultural Policy Research Center at ISET-PI presented the main results of the Regulatory Impact Assessment (RIA) of the draft law of Georgia on soil protection at a stakeholder workshop held at the conference hall of the Environmental Education and Information Center (EEIC) of the Ministry of Environmental Protection and Agriculture of Georgia (MEPA).
How can soil degradation be reduced in Georgia? The objective of the study is to assess potential impact of the draft law on soil degradation processes in Georgia. The study examines the current situation regarding land degradation in Georgia and estimates the potential costs and benefits of the draft law.
Following the collapse of the Soviet Union, the Georgian nation went through a process of rapid disinvestment and de-industrialization. It was forced to shut down industrial plants, sending scrap metal abroad, and workers into subsistence farming. Hunger has never become an issue thanks to the country’s moderate climate and good soil conditions, yet inequality and associated political pressures rapidly reached catastrophic dimensions, unleashing cycles of violence, undermining the political order, and inhibiting prospects of economic growth.
On Wednesday, May 18 Hans Timmer, Chief Economist of Europe and Central Asia (ECA) at the World Bank, paid a visit to ISET. He delivered a presentation entitled “Economic Outlook for the South Caucasus”, transmitting the idea that the countries of Europe and Central Asia (ECA), including Georgia, are transitioning to a situation – against the backdrop of a weakening global economy and volatility in international financial markets – which is called 'New Normal' and is characterized by the slow trend growth of global trade, low commodity prices, and less abundant availability of international liquidity.