ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Nov
09

Tbilisi Central Park Project – Call for More Green Space in the City

Pressure on environmental conditions has been increasing over the years in Tbilisi due to several factors: • Population increase – according to the National Statistics Office of Georgia (GeoStat), the capital’s population has increased by 8% over the last ten years; • Tbilisi is the center of Georgian business operations – GeoStat reveals that, by January 2020, 42% of economically active organizations were located in Tbilisi; • These two factors are strongly associated with high levels of activity in the construction sector – according to GeoStat, 48% of...
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Oct
05

COVID-19 Strikes Again: How the Pandemic is Affecting Georgia’s Energy Security

  Many of us well-remember the cold winter of 2006 when the Russian Federation cut its natural gas supply to Georgia. In general, it is clear that diversification in energy import markets reduces the risk of socio-economic shocks following political tensions with other countries. Fortunately, Georgia managed to find an alternative to the Russian supply and started importing gas from Azerbaijan. This blog will review the current gas import situation and discuss the expected trends in natural gas supply security. As Yergin (2006) notes, the primary fa...
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Sep
14

Labor Market Reform: Is the Glass Half Full or Half Empty?

On the 5th of August, a list of planned legislative amendments for regulating the functioning of the labor market passed their second reading in parliament. These amendments, which are also likely to pass their third and final reading in coming weeks, are expected to improve workers’ protection. Among the areas expected to see significant changes are: • maximum number of working hours; • mandatory weekly rest time; • breaks between shifts; • regulation of internships, part-time work, and nightshifts; • maternity/parental rights; • mandate and powers of t...
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Jun
19

Seasonal Effects and COVID Lockdown Combined Close the Generation-Consumption Gap in April

THE GAP CLOSES In April 2020, total generation and consumption nearly balanced (944 mln kWh of generation and 941 mln kWh of consumption), with power generation exceeding consumption by only 3 mln. kWh (corresponding to 0.3% of total generation: Figure 1). This occurred due to the simultaneous decrease in total consumption (7%) and total generation (2%). Interestingly, over the same period, wind power generation increased by a remarkable 23% compared to April 2019. One year before, in April 2019, the difference between total generation and consumption ha...
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May
01

The Implications of COVID-19 on the Georgian Power Market

The consequences of COVID-19 on tourism and in the industrial and service sectors have been discussed broadly recently. However, little has been said about the current and future implications on the Georgian power sector. The worldwide pandemic has already had, and is still expected to have, quite significant implications on both the demand and supply sides of the electricity market. Although, at this stage, we cannot estimate the exact scale of the effects, it is possible to represent a general theoretical framework of the existing and potential impacts...
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