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Georgia Signs New Agreement with WB for Promoting Government Reforms

Government of Georgia and World Bank have signed a new credit agreement, under which International Bank for Reconstruction and Development (IBRD) will allocate 44.6mln EUR loan for promoting competitive capacity in the private sector of Georgia. «I am happy that World Bank actively strengthens competitive capacity of private sector and …

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Regions should Vitalize Economic Potential

Competitive and knowledge-based economy in regions can ensure stable economic growth, create more job places and attain high social-economic welfare. Over the past decade, social and economic condition of regions has improved. The Authorities have shaped economic models for social equality. As a result, social inequality has shrunk; stimulation of …

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Buta Airways to Replace Azal Airline to Perform Baku-Tbilisi Flight

Starting September 1 Buta Airways low-cost airline will replace AZAL airline (Azerbaijani Airlines) to perform Baku-Tbilisi flights. It should be noted Buta Airways has been founded under the structure of AZAL. Initially, Buta Airways will replace AZAL on 4 frequencies, while starting October 29 Buta Airways will perform all flights …

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FDI Inflows in 2016 Rose by 0.1%

According to the final report, in Georgia an inflow of foreign direct investments in 2016 made up 1565.9mln USD, down 4.8% compared to the 2016 early indicators and up 0.1% compared to the 2015 final indicators. Reinvestments volume in 2016 made up 18.3% of total FDI. Major FDI contributor countries …

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Annual Cost of Living Rises to 167 GEL

Annual cost of living of able-bodied males has risen. According to Geostat, national statistics service of Georgia, in July 2017 the cost of living totaled 167.2 GEL, up 11 GEL as compared to the 2016 indicators. The cost of living marked 156.6 GEL in July 2016. At the same time, …

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Price of Shares of Georgian Companies Declines at LSE

According to Galt&Taggart investment company, price of shares of Georgian companies declined in the previous week. TBC Bank shares saw major contraction. Trades on BGEO Group shares closed at the price of 33.92 GBP, down 6.17% week on week and down 3.77% month on month. Deals were made on 252 …

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Georgia Reveals Source of Gas to Be Stored in its Storage Facility

Georgia will store gas from Azerbaijan’s Shah Deniz field in its underground gas storage facility to be built on Samgori South Dome Field, Georgia’s Energy Minister Ilia Eloshvili said in an exclusive interview with Trend. “Georgian Oil and Gas Corporation (GOGC) plans to construct a gas storage reservoir in a …

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Exports increased by 28.9% in 7 months

In January-July, 2017, foreign trade turnover in Georgia (without undeclared trade) 5674.7 million US dollar amounted to 13 percent more than the the same period of the previous year. According to Geostat, export of 1446.2 million US dollar was 28.9 percent higher than the previous year’s figure of 4228.6 million …

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More Than 14 Million USD was Invested in the Resort Biol

The Prime Minister Giorgi Kvirikashvili visited the medical-recreational resort “Biol” together with Tarzisius Caviezel-the Mayor of Davos and opened a new conference hall. The Prime Minister talked about perspective development of the resort and thanked its founder Tamaz Mchedlidze for the development of alternative medicine base. “Tamaz Mchedlidze is a …

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Winemakers Expected to Process 150 000 Tons of Grapes in 2017

Winemakers Expected to Process 150 000 Tons of Grapes in 2017

Kakheti Region has started vintage preparations. The Minister of Agriculture has held a preparatory meeting with entrepreneurs and noted that both Government and private sector are ready for conducting the vintage in an organized way. The head of National Wine Agency says that Georgian wine exports has increased and the …

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