Discussing Effective Implementation of Economic Reforms at “ReforMeter” Introductory Event
On November 10, Aleksi Aleksishvili, PMCG’s Chairman and CEO, participated as a panelist in an introductory event for the United States Agency for International Development (USAID) project - ReforMeter - organized by The International School of Economics at Tbilisi State University Policy Institute (ISET-PI), and implemented by Deloitte Consulting.
Conducting Regional Public Opinion Surveys on Cybercrime Reporting and Online Security
We recently started working on a new project aiming to support Armenia, Azerbaijan, Georgia, Moldova, and Ukraine in shaping future policies, strategies, and capacity-building responses on cybercrime, cybersecurity, and electronic evidence in the near-to-medium-term.
On October 28, we, as a subcontractor of DAI Global, under the Public Financial Management and Administration Activity in Jordan, delivered a presentation about the advantages of Framework Agreements (FAs) to the Government Procurement Department of Jordan.
Discussing Financial Innovations and Sustainability at the European Fund for South East Europe Conference
On October 22, Mr. Aleksi Aleksishvili, Chairman and CEO at PMCG, participated in an event entitled “Two Sides of the Coin: the Currency Debate” organized by the European Fund for South East Europe (EFSE) and the Green for Growth Fund (GGF).
PMCG is launching a new EU-funded project entitled “Support to Security Sector Oversight Bodies in Georgia” as part of an international consortium led by B&S Europe, in the course of the “EU for Security, Accountability and Fight against Crime in Georgia (SAFE)” program. With an expected duration of three years, the project aims to consolidate and strengthen the role and activities of independent oversight bodies in Georgia in line with best EU and international practices.
We are continuing to contribute to regional infrastructure development, which is essential to any country’s overall economic development. With this in mind, recently, we launched a new project, working together with the United Water Supply Company of Georgia (UWSCG) to provide construction supervision services with respect to rehabilitation and construction works in the water supply system in the city of Telavi in Georgia.
Economics Students Inspired by PMCG’s “Best Thesis Award”
At PMCG, we know that supporting young people in their development is key to securing an effective and sustainable future for the country as a whole. Moreover, we are certain that youth play a crucial role in ensuring progress, especially in developing countries. Accordingly, we have long been empowering young people by assisting them to obtain high-quality education, and we continue to do so.
PMCG’s Vakhtang Lashkaradze and Givi Nadiradze Visit Uzbekistan to Advance Trade Facilitation
Between July 27 and August 8, a mission from PMCG headed by Mr. Vakhtang Lashkaradze and Mr. Givi Nadiradze, with the purpose of enhancing trade facilitation through advancing border management and customs policies, visited Uzbekistan where they participated in 18 separate meetings with various departments of the State Customs Committee of Uzbekistan, as well as leading representatives of the private sector. In addition, they visited all types of customs checkpoints in Tashkent and the surrounding region, and conducted capacity-building training sessions as well.
Evaluating the Canada-Ukraine Trade and Investment Support (CUTIS) Project
We recently launched a summative evaluation of the 5-year Canada-Ukraine Trade and Investment Support (CUTIS) Project, aiming to share results achieved by the project with key stakeholders, and enhance future possible programming in the economic growth sector by recommending how to strengthen the involvement of Ukrainian small and medium-sized enterprises (SMEs) in trade and investment.
PMCG’s Bondo Bolkvadze at OSCE Seminar in Turkmenistan to Strengthen Transport Security
On September 7-8, PMCG’s representative Mr. Bondo Bolkvadze facilitated a seminar entitled “modernization of customs and transport procedures as a tool to improve transport management and strengthen transport security, especially during emergency situations," hosted by the OSCE Center in Ashgabat, Turkmenistan.
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.”
PMCG, as part of an international consortium led by B&S Europe, will begin the implementation of another new EU-funded project entitled “EU for Human Rights: Mainstreaming Non-discrimination Concepts in Legislation” in North Macedonia. The project has an expected duration of one year.
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.
In the past few months, significant increases in hotel prices have been evident due to a combination of factors, such as the partial recovery of international tourism, the rapid inflow of Russians, Belarusians, and Ukrainians since the beginning of the war, a higher domestic tourism demand among Georgians, and the increase in prices for essential goods for hotel services.
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.
In Georgia, the average cost of a room in a 3-star hotel was 157 GEL per night in June 2022, while the average cost of a room in a 4-star hotel in Georgia was 245 GEL per night and the average cost of a room in a guesthouse was 110 GEL per night. The average cost of a room in a 5-star hotel in Georgia in May 2022 was 519 GEL per night. In Guria, the average price was 702 GEL, followed by Kakheti - 575, Tbilisi - 568 GEL and Adjara - 552.
Poverty alleviation remains one of the biggest challenges for the world, including Georgia. The COVID-19 crisis has worsen the problem as many households’ income shrank even further due to the crisis. For instance, according to a public opinion poll conducted by NDI in 2021, 37% of respondents indicated that poverty was the main issue they were facing. Against this background, we take a closer look at poverty in Georgia and discuss trends and changes therein over the last five years.
In this issue, we overview major economic indicators in the construction sector, construction permits, commercial bank mortgage loans for real estate purchases, and construction-related price indices. In addition to that, the results of the BAG business index survey regarding the sales, sales prices, employment, and factors hindering business activity in the construction sector are also provided.
According to a survey of Georgian economists, the economic climate in the country in the second quarter of 2022 has improved compared to the first quarter of 2022, as well as compared to the second quarter of 2021.
With respect to the covered period, the surveyed Georgian economists positively assessed Georgia’s present economic situation. Meanwhile, in the first quarter of 2022 and in the second quarter of 2021, the assessment of the economic situation for the respective quarters was negative. Thus, in the second quarter of 2022, their assessment of the present economic situation has significantly improved compared to both quarters.
The surveyed economists’ predictions for Georgia’s economic situation for the next six months were also positive. In fact, their expectations were much more optimistic compared to the predictions they made for the next six months in both the first quarter of 2022 and the second quarter of 2021.
In May 2022, the number of persons receiving a monthly salary increased by 5% compared to the corresponding period of 2021 and by 14.6% compared to the corresponding period of 2020.
From December 2021 to May 2022, the total number of vacancies published on jobs.ge amounted to 33,703, which was 67% higher compared to the corresponding period of 2020-2021 and 101% higher compared to the corresponding period of 2019-2020.
From December 2021 to May 2022, a total of 9,635 vacancies were published in the field of sales/procurement, which was 91% higher than the corresponding period of 2020-2021 and 128% higher compared to the corresponding period of 2019-2020.