March 2018 extends a long period of “business-as-usual” for Georgian consumers. The overall CCI improved by only 1.6 index points (from -19.1 to -17.5), remaining within the narrow band of [-21, -16] in which it has hovered since July 2017. All the improvement in March is due to the 5.3 index points increase in the Present Situation Index (up from -27.4 to -22.2). Expectations have actually declined by 2 index points (down from -10.8 to -12.8).
The GEO real property market grew by 0.1% (QoQ) in Q1 2018, in comparison with Q4 2017. The annual increase was more pronounced at 27.2% (YoY), in comparison with Q1 2017. TBS, with a 41.6% share in total sales in Q1 2018, dominated the GEO real property market.
GEO real property market grew by 10.6% in 2017 in comparison with 2016. Annual increase was observed in all quarters, with the highest jump in Q2, 14.2% (QoQ) and 20.0% (YoY).
Recently, the administration of Tbilisi City Hall announced that the Tbilisi taxi market is going to be regulated. The process of switching to a regulatory frame will be gradual. At first, taxi drivers will be obliged to acquire taxi signs and permission from the appropriate authorities. This regulation is not expected to create significant pressure on taxi service providers. At the second stage, however, taxi drivers will be required to pass a technical inspection and satisfy minimal quality standards.
On November 22, ISET started a policy seminar series provided by the second-year students of ISET’s MA program. The first presentation was delivered by Tamari Tetvadze & Gunash Kamzaevi, under the supervision of Eric Livny, president of ISET and ISET-PI, and Giorgi Mzhavanadze, Senior Researcher at the Macroeconomic Policy Research Center(MPRC) of ISET-PI.