Home / Economy (page 2)

Economy

ADB to Fund Rikoti-Zestaponi Road Construction

ADB-Georgia today signed a $300 million loan agreement to construct of a four-lane, 12 kilometer road on the East–West Highway between Khevi and Ubisa. The document was signed by Minister of Finance Ivane Machavariani and ADB regional representation director Ieshi Elhan Kaialar.  Under the agreement, ADB will allocate 255.297 million …

Read More »

How Crisis in Turkey May Effect Georgia – Koba Gvenetadze Explains

“If the situation is not deteriorated in Turkey, we do not expect essential influence on Georgian economy”, Koba Gvenetadze, president of National Bank of Georgia (NBG) noted in his interview for the Global Finance. Turkey is Georgia’s major trade partner with 17% in imports and 8% in exports. Turkey holds …

Read More »

Georgia to Set up Commercial Arbitration of International Chamber of Commerce

Georgia plans to establish a commercial arbitration of International Chamber of Commerce, Prime Minister Mamuka Bakhtadze noted before today’s government meeting. The due agreement will be signed in Paris on December 20, he added. ‘This signifies that, in practice, Georgia will be another country in Europe, which will offer similar …

Read More »

Bodorna HPP Launches Operation

Bodorna HPP construction works have been finished in the village of Bodorna, Dusheti Municipality. Installed generation of the HPP is 2.5 megawatts and averaged annual generation makes up 15 million kw/h. For construction of the so-called green HPP, Georgian Water and Power has invested 10 million GEL as part of …

Read More »

9.9% Growth of Electricity Consumption Expected in 2018

Electricity consumption growth rate was revised upwards by 3ppts for 2018. On August 27, 2018 Ministry of Economy and Sustainable Development updated the forecast of electricity (capacity) balance for 2018. Based on this document, forecast for electricity consumption in 2018 was revised upwards to 13.0TWh, which is 9.9% y/y increase …

Read More »

AMS Airlines: Disinformation Spread of Us not having Operating License

AMS Airlines responds the story aired on September 30 on Rustavi 2 and explains that the information contained is false. The company describes the dissemination of programme P.S.’s information as if the company does not have the Operating License and allegedly performs the activities in violation of the law. The …

Read More »