On 28 May, Georgia announced its fourth anti-crisis plan, in which the government will subsidize 4 per cent of the interest rate of mortgage loans for five years. The subsidy will be issued for loans not exceeding 200,000 GEL and will only apply to those taking mortgages for the purchase of residential apartments that are newly built or under construction, from 1 June 2020 to 1 January 2021. The state will also ensure the completion of ongoing construction.
Moreover, the state will issue loan guarantees on mortgages to the amount of 20 per cent of their ...
ISET Economist Blog
A blog about economics in the South Caucasus.
Jun
30
Mar
27
The outbreak of the virus and the corresponding containment measures have started to severely affect the global economy. The Organization for Economic Co-operation and Development (OECD), in its Interim Economic Outlook Report (2020) on March 2nd downgraded 2020 real GDP growth projections for almost every country. The largest reduction in growth projections is seen for China (-0.8 percentage points) with worldwide real GDP growth rate expected to decline from 2.9% (November 2019 forecast) to 2.4%. In their report on March 6th, Asian Development Bank (AD...
Jun
14
In technological terms, there has never been a better time to be a small or medium size business owner: people can always get ahold of you and you can work wherever you need to. Creating an additional source of income catches people’s interests all over the world; as an additional motivation, we often hear about the launch of yet another program directly helping these businesses, thus making it easier to become a start-upper. And here, the rhetorical question: “why not?!” pops into some people’s minds. Starting a small or medium size enterprise (SME) ser...
Nov
19
It is that time of year again when our world starts revolving around the World Bank’s Doing Business publication. It is a time when we once more have the chance to brag about how easy it is to start a business in Georgia, about how small the tax burden on businesses is, and about how good we are at enforcing contracts. However, we are unlikely to draw attention to our rank in the Resolving Insolvency indicator, which places us in a bracket alongside countries not necessarily known for their pristine business-enabling environment. Fortunately for Georgia,...
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