The international crowdfunding market has seen incredible growth over the last seven years. In fact, in 2010 the overall funding raised via this method hadn’t even hit the $1 billion mark, and in the seven years between then and 2017 we have seen around $50 billion invested in the global crowdfunding market. It is the debt-based method of crowdfunding, where investors expect to see a financial return on their investment, that has dominated the growth in funding, raising over 80% of this overall $50 billion since 2010.

The FINANCIAL -- Economic growth --The preliminary statistics released by Geostat reveal that Georgia’s real GDP growth was 4.8%year over year (YoY)in 2018.These results are behind the World Bank’s, IMF’s, ADB’s and NBG’s latest growth projections of 5%-5.5%.

All stakeholders agree, that development of marine sector is vital for Georgia. Experts of the field have been working on research to find out most optimal ways for development of industry. As a result, three main directions were identified: education, shipping and maritime services, and introduction of modern
innovative technologies. For the first time in many years, government of the Georgia: The Prime Minister, Minister of Economy and the Head of the Maritime Transport Agency are actively talking about specific initiatives that will facilitate rapid development of maritime industry, which will have positive impact on economy of Georgia.

The FINANCIAL -- Riddles are fun; sometimes, though, they teach us more than expected. Consider this riddle, for example. A son and his father get into a terrible accident;the father dies immediately while the son is rushed to the hospital for an urgent operation. A minute after being called in, a prominent surgeon steps out from the operating room and says “I cannot operate on this boy; he is my son”. Who is the surgeon?Take a guess!

Last Friday, together with colleagues from France and the Netherlands, we presented very interesting findings from a recently completed data collection initiative that aimed to measure success of ongoing judicial reforms in Georgia. It is obviously important to have a fair and independent judiciary in Georgia that can withstand influence from the government and other elites and at the same time protect rights of both the general public and businesses.

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