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 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.