Overview of the Measures Taken to Support the Ukrainian Economy During the War
18-Aug-2022
The Ukrainian authorities have recently presented Ukraine’s National Recovery Plan and while it is indeed important for the Government to have a plan for Ukraine’s post-war reconstruction, it is also crucial to analyze what instruments the state is using now to survive the war economically and to safeguard business activity, primarily of SMEs.
Since Russia’s invasion of Ukraine on 24 February 2022, martial law has been in effect across the whole territory of Ukraine. Alongside restrictions on the movement of male Ukrainian citizens aged 18 to 60 from their places of residence, the imposition of curfews, and other laws needed to repel the armed aggression and ensure national security, the Ukrainian government has also adopted special laws and measures aimed at supporting business and economic activity in the country.
To ensure the resilience of the wartime economy, a significant portion of assistance has already been provided to the Ukrainian government by partner countries and international organizations. Currently, as Ukraine is at the first stage of its recovery plan, also referred to as the “wartime economy” or “urgent/resilience” stage, the total funding needs for 2022 are estimated at USD 60-65 billion.
Hotel Price Index (July, 2022)
16-Aug-2022
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.
Monthly Tourism Update (July, 2022)
16-Aug-2022
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.
Issue 2: Macro Overview
03-Aug-2022
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.
Employment Tracker (July, 2022)
26-Jul-2022
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.
