The State of the Union edition discusses the diplomatic detente between Turkey and Greece, highlighting the fourth meeting between President Recep Tayyip Erdoğan and Prime Minister Kyriakos Mitsotakis in Ankara. The leaders are working to end decades of animosity by focusing on areas such as trade, tourism, energy, and cultural ties. Despite disagreements, this development signals a fading of tensions in Europe as another trouble spot emerges in Georgia. Thousands of protesters gathered near the parliament building in Tbilisi following the approval of a controversial foreign influence law, despite warnings from the EU about undermining Georgia’s path to EU membership.
The European Bank for Reconstruction and Development released its economic outlook, with sobering numbers for Georgia among the regions it operates in. The report, titled “Taming Inflation”, highlights a significant drop in inflation from a peak in October 2022 to an average of 6.3 percent in March. Chief economist Beata Javorcik attributes this drop to developments in international markets, such as declining natural gas prices and moderate oil prices. However, she notes that some countries still face high inflation rates, impacting people’s purchasing power.
In terms of growth outlook in EBRD’s EU regions, Javorcik predicts a positive year for Eastern European EU member states like Poland, Croatia, and Hungary. Expectations are high for real wage increases, fiscal policies stimulating economic activity, and the EU funding from the New Generation EU initiative contributing to growth. The discussion also touches on the economy of Ukraine, which continues to face challenges due to heavy bombings impacting its electricity generation capacity.
On a lighter note, the segment presents a thrilling experience undertaken by two professional skydivers from Austria in London. Diving from a helicopter at 3,000 feet, they navigated through the sky, reaching speeds of almost 250 kilometers per hour. The adventurous flight included a daring “flare” maneuver soaring through London’s Tower Bridge, a dream come true for the veteran skydivers with over 22,000 jumps. While this might not be a typical weekend activity for everyone, it serves as an exciting start to an eventful weekend.
