PMCG established consortium with WYG International (UK)
In June 2008, The consortium of PMCG and WYG International are jointly participating in the WB funded project “Preparation of the functional and technical design of the Public Financial Management System (PFMS) for the structural units of the Ministry of Finance of Georgia”.
Start Date: September 2008End Date: February 2009Country: GeorgiaClient: Ministry of Finance of GeorgiaFunder: The World Bank
Description of the Project:
The project will be conducted by PMCG and WYG International consortium. The latter is an international multi-disciplinary consultant with over 3000 staff located in more than 30 offices providing a comprehensive and co-ordinated range of high quality socio economic, planning, environmental, engineering, surveying and management services to a diverse range of clients in the public and private sectors.
The project first arose in 2006 when the Ministry of Finance of Georgia endorsed the Strategic Vision for Public Financial Management Reform. This document presents a diagnosis of the challenges faced by the Georgian Government in public financial management and provides directions for implementation of this vital reform. Strengthening budgeting, accounting and reporting mechanisms and practice is one of the key elements of this Strategic Vision.
In order to realize this Vision, that intends to develop, procure and implement an integrated Public Financial Management System (PFMS). To assist in the PFMS functional and technical design and preparation of technical requirements PMCG and WYG International consortium will provide advisory services covering all important aspects of the PFM cycle (i.e. budget preparation and execution, cash and debt management, loan management and restructuring, revenue planning model, treasury operations, public accounting, financial reporting, procurement, human resources management, payroll calculations, financial control and auditing) and related Information and Communication Technology (ICT) solutions.
PMCG founder mr. Aleksi Aleksishvili announces customs training program for businesses
Mr. Aleksi Aleksishvili presented a new program to train businesses to navigate Georgia's customs regulations at a roundtable meeting for the International Chamber of Commerce-Georgia (ICC-Georgia) on June 19 at the Tbilisi Marriott.
Former finance minister Aleksi Aleksishvili said the program and accompanying training center will facilitate international trade and business activities. The program will give instructions on Georgian financial legislation and procedures, including customs and tax rules. It will also study problems frequently encountered by Georgian businesses. Fady Asly, chairman of ICC-Georgia and an investor in this newspaper, said the program will help businessmen to remedy the headache of unnecessary papers by sharing the easiest ways to navigate tax and customs operations. Aleksishvili said the center’s instructors would be chosen for their rich practical and theoretical experience. The focus will be on an international software format which allows businesses to fulfill customs responsibilities from offices, he said, avoiding extra time and expenses on mediators.
Aleksishvili said the course will be very flexible in timing and price; the project has USD 80 000 in funding for its first year, according to the ex-finance minister, with several other sources of funding interested in sponsoring the center. Aleksishvili of PMCG, one of the most recent business groups to join ICC-Georgia said that he did not want to enter ICC with nothing to propose, and made the training center his first project as an ICC-Georgia member. ICC-Georgia is the national committee of the International Chamber of Commerce, a worldwide business organization with its headquarters in Paris.
PMC- Group and BCNG implemented the Georgia's confectionery market research
Upon reaching a private agreement PMCG and partner consulting company “BCNG” undertook research into Georgia’s chocolate market.
Start Date: May 2008End Date: June 2008Country: GeorgiaClient: Foreign Private Company Funder: Foreign Company
PMCG used official data as well as data obtained from the market survey whilelocal production foreign indexes have been studied and analyzed. The survey covered the period 2005-2007. For each year we described the market in details, based on production, variety,, and by foreseeing importer and exporter countries.
At the request of Eurotechnics Ltd, PMC- Group implemented the market research of electronics in
PMCG implemented market research into electronics in Georgia.
Start Date: June 2008End Date: June 2008Country: GeorgiaClient: “Eurotechnics” Ltd
PMCG implemented the market research of electronics in Georgia based on foreign trade data studied and analyzed from 2006 to 2008 first quarter period. Monthly information was produced by the following breakdown: geographically, in types of electronics, in value and quantity. Common tendencies and future perspectives have been analyzed and submitted to the client.
At the request of TBC Bank, PMCGroup implemented research of commercial banks non interest expenditure
At the request of “TBC Bank”, PMCG implemented efficiency research of commercial banks’ non interest expenditure.
Start Date: April 2008End Date: April 2008Country: GeorgiaClient: TBC BankFunder: TBC Bank
At the request of “TBC Bank”, PMCG implemented efficiency research of commercial banks’ non interest expenditure. The research was based on Georgia’s and Eastern European countries’ commercial banks’ 2005-2007 main financial parameters. In the research PMCG analyzed each commercial bank’s non-interest expenses, personnel and marketing expenses efficiency index. The efficiency of data about wages, staff size and branches has been examined while the acknowledged data was compared, and reflected in dynamics and analysis.
On February 26, under the USAID-funded Good Governance Initiative (GGI) in Georgia, we, as a subcontractor to Tetra Tech ARD, introduced our initiated monitoring and evaluation tool to members of the Healthcare and Social Issues Committee of the Parliament of Georgia, enabling them to carry out comprehensive quality monitoring and evaluation of the State Program on Universal Healthcare on an unprecedented scale.
PMCG is implementing an EU-funded project in consortium with ICE – International Consulting Expertise entitled “Improving quality of Prosecution and Criminal Investigation." The project aims to assist in advancing the reforms of the Prosecutor’s Office and the Ministry of Internal Affairs (MIA) of Georgia in line with international standards and commitments. In the course of the project, we have helped to deepen the knowledge and skills of employees of the Analytical Unit of the Prosecutor’s Office of Georgia in their daily integral work on analytical data processing and improving published information to prepare materials and reports in a dynamic and interactive manner, using modern tools and methodologies.
With the purpose of enhancing good governance and sustainable development in the municipalities of Georgia, on February 1-5, together with the National Association of Local Authorities of Georgia (NALAG), we conducted an online training course for 168 representatives from all municipalities of Georgia, in order to introduce the concept of the Performance Monitoring and Evaluation System (PMES) as well as the application of the corresponding informational platform software, ensuring better measurement of the municipalities’ effectiveness, under the EU-funded project entitled “Networking for Efficiency and Development (N4ED).”
We recently started a new project, the goal of which is to advance e-work market development in Georgia by assessing the e-work market demand among enterprises from the five biggest cities of Georgia, and helping to match this demand with the rural labor force of the selected municipalities under the EU-funded program “Improving Rural Development in Georgia (IRDG),” which is being implemented by UNDP.
The International Consortium on Governmental Financial Management (ICGFM), a leading global public financial management (PFM) organization uniting government entities, institutions, professional associations, university departments and high-level financial management professionals devoted to improving financial management, has organized a virtual training symposium entitled “Managing Through Crisis: COVID-19 and Governance,” which will take place on February 9-10. As part of the symposium, Mr. Aleksi Aleksishvili, CEO and Chairman at PMCG, will moderate the panel entitled “Budgeting in Uncertain Times,” which will bring together panelists from North America, Africa, the Caucasus, and the Balkans.
In 2020, the COVID-19 pandemic heavily disrupted the world, causing both a global health emergency and a global economic crisis. While almost every country and every sector have been affected, economies reliant on the service sector, and especially the tourism industry, such as Georgia, have suffered notably. Indeed, measures taken to contain the spread of the virus have had an especially negative impact on the economy. Preliminary estimates suggest a decline in Georgia’s real GDP in 2020 of 6.1%, the sharpest drop since 1994.In this issue, we provide forecasts for the performance of the Georgian economy for 2021, namely regarding its real GDP growth rate, sector-specific growth rates, and employment.
According to a survey of Georgian economists, the economic climate in the country for the first quarter of 2021 has been and will continue to be worse than the last quarter of 2020. Their assessment of the current situation was also significantly worse than the corresponding quarter of the previous year. The economists’ predictions for Georgia’s economic situation for the next six months were also negative. Specifically, their expectations for this period remain similarly bleak to those stated in the final quarter of 2020, and were considerably more pessimistic than the forecasts they made at the same time last year.
The number of international travelers declined by 94.5% in January compared to the same period of 2020, while the number of international visitors fell by 93.6% and the number of international tourists fell by 91.9%;
In January 2021, the year over year Hotel Price Index decreased by 33.8% in Adjara and by 28.5% in Samtskhe-Javakheti;
The number of ski-lift users in Georgia grew significantly, by an annual average rate of 21%, from the 2014-2015 season up to and including the 2018-2019 season. However, compared to the 2018-19 season, the number of ski-lift users dropped by 20% during the 2019-2020 season, due to the looming COVID-19 pandemic which effectively brought the season to an early finish. Thereafter, the 2020-2021 season has been cancelled outright due to the ongoing epidemiological crisis;
Sales per skiing day demonstrated significant growth from the 2014-2015 winter season up to and including the 2018-2019 winter season, growing by 33% annually on average in this period. It even registered modest growth (4%) in the 2019-2020 season.
In Georgia, the average cost of a room in a 3-star hotel was 118 GEL per night in January 2021, while the average cost of a room in a 4-star hotel in Georgia was 188 GEL per night and the average cost of a room in a guesthouse was 72 GEL per night.
In this issue, we overview trends in Ukraine’s labor market indicators through the past decade and compare the dynamics of unemployment rates of Eastern Partnership countries over the same period. In addition, we analyze the effects of COVID-19 on the key labor market indicators, as well as on average wages and number of vacancies posted in 2020.
In Georgia, the average cost of a room in a 3-star hotel was 123 GEL per night in December 2020, while the average cost of a room in a 4-star hotel in Georgia was 197 GEL per night and the average cost of a room in a guesthouse was 70 GEL per night.
Tourism across the world in 2020 was decimated by the COVID-19 pandemic. Since March 2020, the industry has been all but sidelined by various lockdowns including severe restrictions to international travel. To counter these difficulties, businesses in tourism-related industries were provided different support measures throughout 2020, and many of these have been extended into 2021;
The number of international travelers declined by 92.4% in December compared to the same period of 2019, while the number of international visitors fell by 90.8% and the number of international tourists fell by 86.3%;
The price changes in Adjara and Guria are the most representative of tourism’s decline. In December 2020, the year over year Hotel Price Index decreased by 41% in Guria, by 39% in Adjara and by 31.3% in Samtskhe-Javakheti.
International rankings and indicators help us to understand and assess how countries are performing in different areas. In this bulletin, Georgia’s positions in international rankings and their dynamics are reviewed based on recent data, and these are also compared to other Eastern Partnership (EaP) countries (Armenia, Azerbaijan, Moldova, Ukraine, and Belarus).
The spread of COVID-19 has resulted in a global pandemic, followed by an abrupt economic crisis due to the necessary measures taken to reduce infection and death rates. In this bulletin, we focus on the countries of the Black Sea region, specifically their preparedness for an economic crisis and their actual economic performance during the pandemic, before presenting forecasts for 2021.
In Q1-Q3 of 2020, total trade turnover in Ukraine amounted to 72.8 bln USD, which is a 6.9 bln (9%) decrease, compared to the corresponding period of 2019;
In Q1-Q3 of 2020, Ukrainian exports decreased by 6% compared to the corresponding period of 2019, while Ukrainian imports dropped by 11%;
In Q1-Q3 of 2020, Ukraine’s trade deficit amounted to 2.98 bln USD, which is 2.6 bln USD (47%) decrease compared to the corresponding period of 2019;
In Q1-Q3 of 2020, the main export partners were China, Poland and Russia, with shares in total export volume of 13.8%, 6.7% and 5.8% respectively. The main import partners were China (15.3% of total imports), Germany (10.2%) and Russia (8.8%).