ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Mar
08

The Wheat Market in Georgia

On February 15th 2021, export quotas on wheat, rye, maize, and barley entered into force in Russia. Russia also imposed customs tariffs and prohibitive duties amounting to 50% of customs value on these products. WHAT DOES THIS MEAN FOR GEORGIA? In general, the introduction of customs tariffs or quotas on exports is a part of a protectionist policy and is, more often than not, directed towards the protection of local producers and markets. Export quotas entail restrictions on the quantity of specific goods and services within an outlined period of time wi...
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Nov
30

Food Security and COVID-19 in Georgia

Food supply systems are crucial to the economies of most developing countries, supplying the largest share of food production, and constituting livelihoods and a key source of income for the majority of the population (FAO, 2020). It is therefore vital to maintain the steady flow of goods and services required from local and international food supply chains to ensure the health of the population, and to protect their incomes and livelihoods. Lockdowns from the COVID-19 pandemic have created logistical issues and posed challenges to the function of food s...
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Sep
21

The Post-COVID Foreign Direct Investment in Georgia: go clean, or don’t go!

Governments around the world are racing against the clock to help communities damaged by the economic fallout of COVID-19. Eager to bring good news to their constituents, they are brokering deals likely to bring employment and much needed international investments. Georgia, of course, is no exception. Recent FDI projects include a plastics processing plant with a stated capacity to employ 400 local workers in plastic waste recycling jobs and the associated sections of the supply chain. In crises years, creation of jobs via FDI sounds absolutely great. Bu...
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Nov
30

Increasing Electricity Imports and Jumping Import Electricity Prices: a Worrisome Development or Data Glitch?

  After the generation deficit of September, the decreasing trend in generation continues, while the gap between consumption and generation keeps widening. Chiefly, compared to September, total electricity generation has decreased by 8% in October 2018, while in contrast with the previous October, 2017, electricity generation has decreased by 5%. This reduction in generation on a yearly basis is specifically due to the decrease in hydropower (-1%) and thermal power generation (-17%), which more than offsets the increase in WPP generation (+4%). Wher...
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Nov
05

Is Russia Back as the Main Foreign Provider of Electricity to the Georgian Market?

After a generation deficit of August, Georgia continues to exhibit a decreasing trend in power generation; compared to August, total electricity generation has decreased by 14% in September 2018. Georgian power plants generated 849 mln. kWh of electricity, while consumption of electricity on the local market was 955 mln. kWh. It should be noted that compared to August, electricity consumption has decreased by 9%.Even though consumption decreased substantially during the month of September, Georgia had to import electricity from foreign power markets. Ove...
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Oct
01

Georgia Becomes a Net Importer of Electricity Even During the Summer Period

  In August 2018, Georgian power plants generated 985 mln. KWh of electricity (a 5% decrease in total generation, compared to the previous year and a 22% decrease with respect to July 2018), while consumption of electricity on the local market was 1,049 mln. kWh (+1% compared to August 2017, and -4% with respect to July 2018). Consumption to exceed generation by 64 mln, which is 6% of total consumption and 7% of the amount generated. As it can be seen in Figure 1, the emergence of a generation-consumption gap was not totally unexpected. Not only it...
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