The FINANCIAL - Opinion

The FINANCIAL -- In December 2014, Khachapuri Index returned to its upward seasonal trend and reached 3.66GEL. This is 9.4% higher compared to the previous month (November 2014) and 2.4% higher compared to December 2013 (y/y). The main contributors to y/y Khachapuri Index inflation were flour (16.4%), milk (7.2%), yeast (5.1%), butter (3.2%) and cheese (0.7%), while the price of eggs dropped (-6.4%).

During the last three months, theAgricultural Policy Research Center (APRC) of ISET-PI was working on a study about family farming in Georgia.Within this project, we conductedinterviews with farmers and owners ofagribusinesses. These interviews elicited many intriguing facets of Georgian agriculture, but one aspect I found particularly interesting was that Georgian farmers apparently have a rather negative view on agricultural jobs.

The FINANCIAL -- In October 2007, responding to the problem of very low birthrates in the country, Ilia II. of Georgia, the Catholicos-Patriarch of All Georgia, announced that he would personally baptize any third and subsequent child born to Orthodox families from that time onwards. This promise seems to have had a considerable impact on the reproduction behavior of Georgians. According to the National Statistics Office of Georgia (NSOG), the number of births increased from about 49,000 in 2007 to about 57,000 in 2008 and 63,000 in 2009. This is a remarkable 28% increase in two years’ time, while the number of births from 2000 to 2007 had been fluctuating betewen 46000 and 49000. At the end of 2008, the Patriarch for the first time baptized thousands of babies at the Sameba Cathedral, and the tradition continues until today.

The FINANCIAL -- In November 2014, the average cost of cooking one standard Imeretian Khachapuri varied across Georgian cities from 3.23 GEL, the minimum observed in Telavi, to 3.51 GEL, the maximum observed in Tbilisi. The average price was 3.34 GEL, 0.2% lower compared to the previous month (October 2014) and 2.4% lower compared to November of last year.

The FINANCIAL -- Some weeks ago, I was invited by a development bank to the Hotel Eden in Kvareli, Kakheti, where we discussed Georgia’s possibilities to develop economically. When we talked about the potential of the manufacturing sector, one of the attending bank employees said: “The problem is that Georgia does not have Rudolf Diesel and Nikolaus Otto.”

The FINANCIAL -- ISET’s Khachapuri Index has unexpectedly changed direction in November 2014. At 3.34GEL, it is 0.2% lower compared to October 2014 (m/m) and 2.4% lower compared to November 2013 (y/y). The general level of consumer prices, as measured by the CPI, also lost ground m/m (down by 0.1% compared to the previous month), however, y/y (relative to November 2013), prices gained 2.8%.

Load More


Get paid for your OP-ED, Analysis or Interview

The FINANCIAL accepts opinion articles and interviews on business, politics, economy, personal finance.
Requirements: 600-1000 words.
Language: English 

  • Must be final, corrected, and edited. 
  • Your article piece should be exclusively written for The FINANCIAL.
  • The submitted articles must contain significant information or analysis.
  • The author must include contact details and short bio/address in social networks.
  • By submitting your article to The FINANCIAL, you agree to grant us the right to publish and distribute this content in all our publications. 
  • Guest posts with links or promotional information are published on a paid basis.
  • We don't publish adult content.
  • We publish majority of submitted articles. But there are exceptions as well. 

Submissions may be sent to editor (@) 

Popular in Opinion