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Daily Archives: June 18, 2018

Government Size to Decline to 4.2% of GDP

The Government size will decline to 4.2% of GDP by the end of 2018, Mamuka Bakhtadze, a nominee for the Prime Minister’s position, told reporters. “The concept of a small government does not imply only a reduction of quantity of Ministries. This concept also determines the small government’s ratio in …

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New Government to Have 11 Ministers Instead of 14

“The number of Ministries will shrink,” the nominee for the Prime Minister’s position told reporters. He also urged the Parliament of Georgia to implement new government approval procedures in the shortest period possible. “In several days the Parliament will approve the new government and its program. A key principle of …

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Downturn in FDI – A Warning to Investors?

According to preliminary indicators by Geostat, the national statistics service of Georgia, foreign direct investments (FDI) in the first quarter of 2018 were 279.3 million USD, down 32.9% compared to preliminary indicators from the first quarter of 2017. According to Geostat, the downturn emerged after several enterprises changed ownership to …

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Satellite Market Grows as SES Reaches 562000 TV Homes in Georgia

Anna-Karin Modigh

SES Summarizes Georgian TV market. Interview with Anna-Karin Modigh – Vice President, Marketing Communications, Nordic, Baltic and Eastern Europe at SES. Tell us about market research that you have done recently, what changes did you notice and what negative/positive trends has Georgian TV market shown? Satellite still has a very …

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Banking Sector Anticipating Decline in Loan Portfolio Growth

The Society and Banks nongovernmental organization asserts that the loan portfolio growth tendency will be declined in short-term period as a result of new regulations imposed on the sector. Unlike previous years, the exchange rate has not increased extremely and this will not result in growth in inflation, the organization …

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Kvirikashvili’s Effect Lasted Only Two Years

Economic growth under Irakli Gharibashvili’s government was 3.75%; Kvirikashvili raised the rate to 3.9%. Prime Minister of Georgia Giorgi Kvirikashvili has filed a resignation referring to different visions between him and the ruling economic team on economic policy issues. “The ruling team and I have different positions regarding certain subjects, …

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PM Candidate: We will Free Representative Companies from Taxes

Mamuka Bakhtadze, a nominee for the position of Prime Minister, has proposed to free representative companies from taxes to attract major international companies to the country. As a result, domestic business companies will get the chance to develop their directions. “As reported, in 2017 Georgia recorded a historical maximum of …

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