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Daily Archives: January 5, 2018

Government Sold 97 949 476 GEL State Properties in 2017

Government Sold 97 949 476 GEL State Properties in 2017

In 2017 Government of Georgia received 97 949 476 GEL revenues from sales of state property. According to National State Property Agency, 1897 electronic auctions were announced in 2017 and the highest bid was recorded for the state property in Tsikhisdziri – 13 650 000 GEL. The new owner plans …

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EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

On January 5 Government of Georgia and European Bank for Reconstruction and Development (EBRD) have signed an agreement for financing Enguri HPP Rehabilitation Project – Sustainable Development for Climate Conditions. The document was signed by Minster of Finance Mamuka Bakhtadze and EBRD regional director in the Caucasus, Moldova and Belarus …

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Commercial Banks Lower Deposits Interest Rate

Commercial Banks Lower Deposits Interest Rate

Key players on the retail deposits market have lowered deposits interest rates. TBC Bank and Bank of Georgia with 75% ratio on the market (4.4+3.7 billion) have reduced the annual interest rate to 9.4%. Liberty Bank (1.03 billion) cut the rate to 9% on Patriot deposit, while annual interest rate …

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Kutaisi AutoMechanical Plant Expands Output

Kutaisi AutoMechanical Plant Expands Output

Kutaisi AutoMechanical Plant has expanded output capacity. The company has bought new machineries and inductive furnace to increase assortment of products. Namely, the plant will produce two new products for stone-crushing workshops and gray cast iron details. The plant employs 185 persons. Kutaisi AutoMechanical Plant has obtained financial support component …

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7.5 million Visitors Arrived in Georgia in 2017

7.5 million Visitors Arrived in Georgia in 2017

7.555 million visitors arrived in Georgia in 2017, up 200 000 visitors as compared to the 2016 indicators, Giorgi Chogovadze, Head of National Tourism Administration, noted. “We have serious growth in the part of revenues and total amount will hot 2.7 billion USD. We expect the next year to attract …

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