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Daily Archives: January 10, 2019

World Bank Forecasts Azerbaijan’s Economy Growth Coming Year

The World Bank (WB) forecasts Azerbaijan’s economy growth at 3.6 percent in 2019, Trend reports with reference to the “Global Economic Prospects” report by the WB. According to the report, this figure will be 3.3 percent in 2020 and 2.7 percent in 2021. Growth rates in the Europe and Central …

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Georgian Khachapuri is Best Rated on TasteAtlas’s top 100 List

The unique Georgian cheese-filled bread, khachapuri, is the best rated dish on the first global local food atlas, TasteAtlas, and is included among 100 best dishes in the world revealed by the food professionals Khachapuri This simple cheese bread known as khachapuri is the most famous dish in Georgia. The …

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Director of Produce in Georgia Agency Shares Achievements in 2018

Mikheil Khidureli, Director  of the Produce in Georgia Agency, speaks about its  activity and achievements in 2018, namely, growth in financing of enterprises by 10% compared with 2017, grown financing of the hotel sector by 55%, 975 recipients of grants to develop small and micro businesses, export promotion in the amount of …

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Business Ombudsman: We Hope for Unbiased Investigation of TBC Case

Irakli Lekvinadze

Business Ombudsman of Georgia Irakli Lekvinadze expressed hopes that the investigation of TBC Bank case will be carried out in unbiased and transparent manner. He also expressed willingness to hold consultations with TBC Bank representatives. “The investigation should be able to pose all questions that it may have, on the …

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Bank of Georgia Appoints New General Director

More Lari Appreciation is not a Good Idea, NBG should Purchase More USD

Archil Gachechiladze has been appointed as a new director of Bank of Georgia. He has replaced Kakha Kiknavelidze on the mentioned position. Neil Janin, Chairman, commented: “I am delighted that we are appointing Archil as CEO, after he thoroughly impressed all Board members during a comprehensive search conducted by the …

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2018 Beer Market Review: Nikoloz Khundzakishvili

According to the Revenue Service Statistics Georgian beer market grew by 8.3% in 2017.  101,846,540 liters of beer were consumed in 2017 in the country. Despite 8% market growth, the beer market currently is smaller than in 2014. Market shrank due to rise in excise by 50%. The rule for …

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New Landing Regulations Came into Force

Russia Ranks First in Terms of Money Transfers to Georgia

Starting January 1 the National Bank introduced new regulations as part of a program to introduce responsible lending and reduce the excessive indebtedness of the population. From now on insolvent citizens will not be able to take loans. Apart from that,  loans will be issued based on the financial condition …

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