ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
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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Mar
19

2018 – A Turning Point for the Georgian Electricity Market?

This year Georgia’s electricity market will have to go through some crucial reforms. The signing of the Association Agreement and Georgia’s accession to the energy community in October 2016 imposed some important obligations on the country to reform its energy markets. For the electricity market, 2018 will be a turning point. Among the key obligations the country committed to under the energy community accession protocol were the adoption of: (i) Directive 2009/72/EC, concerning common rules for the internal market in electricity and (ii) Regulation (EC)...
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Jan
29

Fighting Drug Addiction: Can Georgia Do It Better? An Economist's View of Georgia’s Drug Policy Reform

Drug policy reform is now at the center of a heated debate in Georgia. Despite the importance of the subject, however, most of the discussions I have heard so far are based on phobias and myths, rather than on evidence. This is a pity, as society will ultimately have to decide on the subject by voting YES or NO on this reform, thereby choosing between very different potential outcomes. Having an informed opinion on the issue is, therefore, extremely important. Let’s start from the beginning - what are Georgia’s major drug-related problems? 1. Georgia ran...
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Dec
11

Do You Have Questions About the Upcoming Pension Reform? Here Are Some Answers

Over the past months, we have been asked several times questions about the upcoming pension reform. Here are some answers. For whom is the contribution to the fund mandatory? Who can join/contribute to the fund? All those individuals who receive their salary net of taxes because their employer pays the income tax for them are automatically enrolled in the fund. Those who are 40 or more years of age will have – after 3 months in the fund – the possibility to opt out. However, this “window” to opt out will close after the 5th month in the fund. Those who a...
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