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Economy

Asian Development Bank to Finance Construction of Khevi-Ubisa Section

Asian Development Bank to Finance Construction of Khevi-Ubisa Section

The Asian Development Bank (ADB) will finance construction of Rikoti Pass road, Khevi-Ubisa 12.2 km section. The First Deputy Minister of Regional Development and Infrastructure of Georgia Irakli Karseladze, along with representatives of Asian Development Bank discussed the issue of financing of the Khevi–Ubisa section, reviewed the progress of the …

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Energy Community Secretariat Presents Electricity Supply Rules in Georgia

Experts from the Energy Community Secretariat presented draft rules for electricity supply to the National Energy and Water Supply Regulatory Commission (GNERC) and distribution system operators in Georgia. The adoption of the rules, which were developed under the framework of the EU4Energy project, is a necessary part of the electricity …

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External Trade Grows

Exports experienced a 28% increase, while imports grew by 21% in 1Q18. In the January-March period, Georgia’s external trade turnover (excluding undeclared trade) totaled 2.8 million USD, up 23.3% from last year, including exports totaling 740.3 million USD (up 28.4%) and imports amounting to 2,083.4 million USD, up 21.6%. Georgia’s …

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Georgian Parliament Tests Committee Inquiries

Today, Members of the Georgian Parliament learned how to hold Committee Inquiries based on the practices of the British Parliament. The information session was held on April 30, 2018, and was facilitated by an international expert from the Westminster Foundation for Democracy (WFD) invited by the United Nations Development Programme …

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Economic Growth in 1Q18 Marked 5.2%

GDP growth pace in March 2018 constituted 5.6% year on year, while the 1Q18 real averaged growth made up 5.2%, according to a preliminary report. According to Geostat, national statistics service of Georgia, in March 2817 a significant growth was recorded in social, personal and communal services, processing industry, transport …

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Gayle Allard: Rigid Labor Markets Reduce Productivity

Gayle Allard

Despite strong growth over the last years, a number of factors will inhibit growth over the next years, according to Professor Gayle Allard, Professor of Economics at IE Business School. Data show that economies with greater inequality grow slower than those with less inequality. This runs counter to theses which …

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Oil Companies Sell Fuel for 35 Tetri More to Retail Clients

fuel

Gulf earns 30 Tetri from sales of only one liter of fuel. Economists and field experts have long been talking about the drawbacks and unhealthy environment of the fuel market. As a rule, oil companies do not accept criticism. Their lobbyists frequently assert that the companies receive minimal profits, and …

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Georgia’s Energy Independence: the Outlook

Energy independence and energy efficiency represent one of the crucial challenges for Georgia. Gia Arabidze, energy department dean of Georgia Technical University talks on energy independence to “Business Morning”. – Gia, it has become common knowledge that energy independence is of utmost importance. How can we react to this challenge …

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Georgian Products Exports to China Shrinks 2.4 times

Georgia-China free trade agreement came into force on January 1. As a result, 94% of Georgian products were exempted from customs taxes on Chinese market. Georgia exports wines, nuts, honey, mineral waters, beer, soft drinks, juices, vegetable, fruits, chocolate products, tea, fish and other marine products, cereals, cables, plastic products, …

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The First Microelectric Power Plant in Imereti

Irakli Purtseladze is the first in Imereti who installed solar panels on the roof of his home and got involved in the Neto registration. This means that the 27-year-old Irakli Solar Power Plant is connected to the network and in case of excess energy, the company receives electricity from it, …

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