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Betsy’s Hotel is an establishment accustomed to hosting a wide variety of patrons from across the world. However, the gathering of mid-level and senior representatives from public, private and non-profit organizations to be awarded certificates for completing a course funded by Japan Tobacco International Georgia and run by the ISET Policy Institute is certainly unique even for a hotel with such a habitually diverse clientele.
The training program, entitled ‘Leaders in Development’, was devised for policy makers, analysts and executives from both the public and private sectors, and highlighted the importance of understanding economic concepts for professional and national development. The program's ten modules focused on the implications of government regulations for Georgian businesses across a broad range of policy areas: from taxation and tax administration to food safety and environmental standards.
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On June 15, 2016, ISET held a press-conference to discuss recent economic indicators of Georgia. In the second quarter of 2016, the two most important economic barometers of consumer and business sentiment in Georgia – the Business Confidence Index (BCI) and the Consumer Confidence Index (CCI) continued to steadily improve.
In terms of business sentiment, the second quarter increase in the index was mostly driven by a significant improvement in actual business performance. Q2 results extend the rally in business expectations which was triggered by the appointment of Giorgi Kvirikasvhili as Georgian PM (see, BCI Q1, 2016).
Overall, the BCI gained 10 points (on a [-100/100 scale]) compared to Q1 2016. The expectations of the private sector in Georgia improved and reached 46 index points (up from 38 points in Q1). Business performance over the past three months increased significantly and became positive, rising from -0.7 to 19.7, indicating a rise in production/turnover/sales. The performance of the past three months alongside improved expectations thus maintained the overall BCI at a stable, optimistic level and trend.
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