On July 28, PMCG supported a workshop organized by the EU and the Ministry of Environmental Protection and Agriculture of Georgia as part of the project “Support to Environmental Protection and Fight Against Climate Change in Georgia.”

On June 27, David Lezhava, Director at PMCG, and Lasha Mgeladze, Consultant at PMCG, participated in an event entitled “Modeling of Effective Investment Activity in Territorial Communities During the War and in the Post-War Period.”

We recently started working on a new project entitled “Development of Accounting Policy and Related Forms for the Ministry of Education and Science of Georgia and the Sub-Organizations Under its Control and Providing Training of Key Personnel of the Ministry of Education and Science of Georgia,” aimed at introducing the International Public Sector Accounting Standards (IPSAS) to the Ministry of Education and Science (MES) and contributing to better accountability and transparency of its public finance spending.

We recently finished implementing performance management system (PMS) web-application in 23 municipalities of Georgia as part of the UNDP-funded project “Development of Performance Management Systems for Street Cleaning and Waste Management Services in 23 Municipalities of Georgia,” aimed at increasing the effectiveness and efficiency of two crucial municipal services.  

In Georgia, the average cost of a room1 in a 3-star hotel was 173 GEL per night in July 2022, while the average cost of a room in a 4-star hotel in Georgia was 276 GEL per night and the average cost of a room in a guesthouse was 118 GEL per night. The average cost of a room in a 5-star hotel in Georgia in July 2022 was 563 GEL per night. In Guria, the average price was 1001 GEL, followed by Tbilisi - 619 GEL, Adjara - 612 and Kakheti - 522.

Macro Overview aims to review the recent trends and developments of the Georgian economy and sets the stage for what is to come in the approaching months.   Macro overview highlights some of the key indicators in Georgian economy such as inflation, economic growth, and employment. It also explores external sector of the economy, overviewing trends in tourism, trade, remittances and FDI. The publication consolidates and includes analytical pieces from the PMC Research Center’s periodic newsletters, such as economic outlook and indicators series, monthly tourism update, black sea bulletin, employment tracker. It also includes insights about the expectations of businesses and economists about the future of the Georgian economy from our Georgian economic climate and bag indexes.

In June 2022, the number of persons receiving a monthly salary increased by 4.3% compared to the corresponding period of 2021 and by 11.7% compared to the corresponding period of 2020. According to the BAG Index Survey, overall, in Q2 of 2022, 29.9% of surveyed companies increased their number of employees, 5.6% recorded a decrease, and 64.5% reported no change. In 2022, from January to June, the total number of vacancies published on jobs.ge amounted to 36,584, which was 51% higher compared to the corresponding period of 2021 and 123% higher compared to the corresponding period of 2020. In 2022, from January to June, a total of 10,695 vacancies were published in the field of sales/procurement, which was 112% higher than the corresponding period of 2021 and 165% higher compared to the corresponding period of 2020.

Since the outbreak of the war in Ukraine, the border crossing statistics have revealed significant differences in the number of entries and exits by Russians, Belarusians, and Ukrainians. In May 2022, the gap between the number of entries and exits declined significantly with the number of exists increasing significantly for Ukrainians, while in the same month, for Russians and Belarusians, the number of exits exceeded the number of entries. Since the beginning of the war in Ukraine, travel receipts from Russia have shown a significant increase, while in March 2022 receipts from Belarus experienced a drastic jump of 552% compared to February 2022 and this high level has been maintained for the following three months.