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Better Skills for Better Jobs – Developing Employment and Vocational Education System in Georgia

16-Nov-2018

Better Skills for Better Jobs – Developing Employment and Vocational Education System in Georgia

On November 15, the Delegation of the European Union to Georgia and the Government of Georgia summarized four years of cooperation aimed at developing the Employment and Vocational Education and Training (EVET) system in Georgia.The summary focused on highlighting the a...

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Sharing Georgia’s Successful Reforms with Ukrainian Delegation

14-Nov-2018

Sharing Georgia’s Successful Reforms with Ukrainian Delegation

On November 9, David Lezhava, Public Policy Sector Director at PMCG, delivered a presentation and shared Georgia’s experience of introducing economic reforms and innovations in the public sector to a delegation from Ukraine. “The focus was placed on the continuous and c...

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Chinese Academy for Fiscal Sciences Set for Cooperation with Tbilisi State University and Academy of the Ministry of Finance of Georgia

13-Nov-2018

Chinese Academy for Fiscal Sciences Set for Cooperation with Tbilisi State University and Academy of the Ministry of Finance of Georgia

On November 6, PMC Research organized a meeting between the Chinese Academy of Fiscal Sciences (CAFS) and Tbilisi State University (TSU), with the aim of introducing these two institutions to each other and discussing collaboration opportunities. As a result of the meet...

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PMCG Shortlisted to Support Tajikistan and Kyrgyz Republic to Improve Municipal Infrastructure

12-Nov-2018

PMCG Shortlisted to Support Tajikistan and Kyrgyz Republic to Improve Municipal Infrastructure

We are pleased to announce that we have been shortlisted by the European Bank for Reconstruction and Development (EBRD), as part of a consortium led by HPC AG, to implement its Municipal Infrastructure Programme in the Republic of Tajikistan and the Kyrgyz Republic.Our ...

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Hosting Delegation from China to Start Collaboration

08-Nov-2018

Hosting Delegation from China to Start Collaboration

On November 6-7, PMC Research hosted a delegation from China, comprising high-ranking officials from the Chinese Academy for Fiscal Sciences (CAFS). The aim of the visit was to discuss the prospects of future collaboration between the two institutions.During the meeting...

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Azerbaijan and Kazakhstan Make Significant Progress in the World Bank’s Doing Business Ranking 2019

05-Nov-2018

Azerbaijan and Kazakhstan Make Significant Progress in the World Bank’s Doing Business Ranking 2019

We congratulate the Governments of Azerbaijan and Kazakhstan with their countries’ substantial improvements in the World Bank’s Doing Business Ranking 2019. Azerbaijan has moved from 57th place in 2018 to 25th place, and is among the ten economies to have made the ...

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Georgia Rises to 6th Place in the World Bank’s Doing Business Ranking 2019

02-Nov-2018

Georgia Rises to 6th Place in the World Bank’s Doing Business Ranking 2019

We are pleased to share the news that Georgia has recorded an impressive rise in the World Bank’s Doing Business Ranking 2019. We would like to congratulate the Government of Georgia (GoG) on this success. In addition, we are glad to have played a part in this progress ...

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Assessing Safety of Sioni and Algeti Dams

01-Nov-2018

Assessing Safety of Sioni and Algeti Dams

  We recently launched a new project aiming to assess two dams in the Kakheti and Kvemo Kartli regions of Georgia. PMCG, as part of a consortium led by Temelsu, will assist state-owned company Georgian Amelioration LTD, which is under the supervision of the Minist...

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Campaign to Raise Awareness about EU Activities Aiming to Support Employment, Vocational Education and Training

29-Oct-2018

Campaign to Raise Awareness about EU Activities Aiming to Support Employment, Vocational Education and Training

We recently took part in an information campaign about the initiatives of the European Union (EU) to support employment and vocational education and training (EVET) sectors.As part of the campaign, PMCG, together with representatives of the Ministry of Education and Sci...

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New Study to Improve Access to Employment, Entrepreneurial and Educational Opportunities

26-Oct-2018

New Study to Improve Access to Employment, Entrepreneurial and Educational Opportunities

PMC Research recently launched a new applied research project entitled “The regional market assessment in Georgia using components of Smart Specialization” aiming to assess the private business sector in Tbilisi and five target municipalities within Kvemo Kartli and Sam...

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PUBLICATIONS

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Hotel Price Index (September, 2018)

15-Oct-2018

Hotel Price Index (September, 2018)

During October 2017 – September 2018 period, in Tbilisi the highest average prices of a room in a 3* and 4* hotels were recorded in December 2017, respectively 165 GEL and 293 GEL, the lowest prices were recorded in February 2018, respectively 124 GEL and 214 GEL. In September...

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Hotel Price Index (August, 2018)

17-Sep-2018

Hotel Price Index (August, 2018)

In August 2018, the hotel price index increased only by 0.01% compared to July 2018; In August 2018, the daily rates for standard double hotel rooms increased the most in Guria (7.6%), while the hotel prices decreased mostly in Samtskhe-Javakheti (-1.6%); In August 2018, the ...

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Hotel Price Index (July, 2018)

10-Aug-2018

Hotel Price Index (July, 2018)

In July 2018, the hotel price index increased by 2.7% compared to June 2018; In July 2018, the daily rates for standard double hotel rooms increased the most in Adjara(10.1%) and Samtskhe-Javakheti (5.9%), while the hotel prices decreased only in Tbilisi (-1.2%); In July, the...

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New Simplified Financial Reporting Standard for MSMEs

05-Jul-2018

discussing New Simplified Financial Reporting Standard


On June 26, the newly simplified Financial Reporting Standard for Category IV-Entities was adopted with the goal to improve the quality and transparency of corporate financial statements, according to the decree of the Head of Service for Accounting, Reporting and Auditing Supervision (SARAS).

The Standard aims to lower the administrative burden by reducing compliance obligations, improving the financial reporting process, enabling micro, small and medium enterprises (MSMEs) to focus on business growth, and increasing access to finance for about 80,000 micro entities.

This has been developed by PricewaterhouseCoopers (PwC) in partnership with PMCG under the Good Governance Fund (GGF) Managed Fund (MF). The project team conducted a needs assessment of Category IV-Entities, surveying approximately 17,000 such entities, holding in-depth interviews with professional accountants dealing with such entities as well as organizing workshops with consultative groups of key stakeholders.

The Standard was developed based on the International Financial Reporting Standard (IFRS) for MSMEs, the relevant EU Directives and the best practices of Estonia, the UK, Ireland, Singapore and Poland.

Ultimately, with increased access to finance, MSMEs can expand and develop production, improve their infrastructure, comply with various international and national standards, attract potential investors, and increase working capital. Moreover, greater access to finance will improve their competitiveness in the long term.


Please kindly follow the link below for detailed information about the project:

Good Governance Fund

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