On Tuesday, March 29 ISET and the Asian Development Bank co-organized a seminar on Inclusive Economic Growth in Georgia. The event was part of a joint project of ISET and ADB, Good Jobs for Inclusive Growth, aimed at creating conditions to enable inclusive economic growth in developing countries. In addition to focusing on inequality in income and opportunities, the seminar examined the issue of social protection and the development of institutions.
Once the wealthiest Soviet republic, Georgia has since fallen far behind other post-Soviet states (except for, perhaps, Tajikistan, Kyrgyzstan and Moldova) in almost any parameter of wellbeing. Adjusted for purchasing power parity, Georgia’s annual income per capita in 2012 was close to $5,900 (a little higher than in resources-poor Armenia).
On November 18th, ISET hosted Principle Economist of Asian Development Bank, Dr. Donghyun Park, who gave a presentation on Inequality, Inclusive Growth, and Fiscal Policy in Asia.
It is easy to understand what it means for an economy to be weak or strong. We know that a strong economy is characterized by low unemployment and high growth rates. Other desirable traits are, for example, low levels of poverty and income inequality, when all citizens enjoy reasonable standards of living.
The main purpose of the consultancy was to contribute to the elaboration of the Population Situation Analysis (PSA) section on Socio-Economic Context in Georgia. The Government of Georgia (GOG) and the Prime Minister have announced addressing demographic challenges as a top priority of the country. UNFPA was asked to support undertaking the Population Situation Analysis (PSA) in Georgia, in order to generate evidence regarding demographic situation that would be further used for elaboration of the Demographic Strategic Plan for Georgia.