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Economy

Bread Has Risen in Price – Answers from Entrepreneurs

BM.GE has talked with entrepreneurs about growing bread prices. Grain prices have risen on the global market and naturally, this tendency makes influence on a growth in bread prices in Georgia too. Unlike the Government, part of the private sector points to unjust and uncompetitive conditions on the market. Despite …

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10 Largest Investor Countries to Georgia

Direct foreign investment in Georgia (FDI) in Georgia decreased to the nine months of 2018 to  $998 million, and it is 27% less than 2017. As for the countries, Azerbaijan is the first among the investors, from which $ 169 million was invested. The Netherlands takes second place with $ …

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Reinvestments Ratio in FDI is 50% in Georgia

According to the preliminary report by Geostat, the national statistics service of Georgia, in January-September 2018, reinvestments in Georgia made up 504 million USD and the reinvestments ratio in total investments amounted to 50%. Reinvestments volume is growing at special paces over the past 2 years. In 2015 it was …

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Nikoloz Khundzakishvili: Beer Market Shrank by 3% in 2018

In 2018 Georgia beer market declined by 3%, Nikoloz Khundzakishvili, director for Natakhtari corporate affairs told Business Morning program. The market declined after the solvency of our citizens shrank and GEL exchange rate depreciated; Bad weather has also made a negative effect on sales, he said. Both domestic and imported …

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17 Million Tender Announced for Kutaisi Airport Expansion Works

Kutaisi airport expansion works to switch to a new phase. A new 16.9 million tender was announced for covering the green roof, stained glass and facade of the new terminal of the airport. The winner company must complete the works within 24 weeks. Including completion of roofing works of the …

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UN Begins New Project- Women’s Economic Strengthening in the South Caucasus

UN Women’s New Project Launches “Women’s Economic Strengthening in the South Caucasus” The presentation event, which will be attended by representatives of the Georgian government, donor organizations, private and civil society, will also discuss the main findings and conclusions that the CRRC-Georgia survey of women’s economic activity has revealed. The …

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TBC Bank is Ready to Join the Initiative to Abolish Problem Loans

TBC Bank, as the largest financial institution in the Georgian market, is responsible for the sustainability and stability of the Georgian financial sector and the general economy of the country. TBC Bank is ready to join the initiative to eliminate troublesome loans in favor of low-income citizens and persons with …

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Georgia’s Port Sees Loss of 1.1 Million Tons of Cargo

According to data for 10 months of 2018, Georgian seaports handled 12.4 million tons of cargo, which is 1.1 million tons and 8% less than in the same period of 2017. In particular, the losses of the Poti port amounted to 5 million tons, the port handled 5, 1 million …

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Georgia to Export Olive Oil, Whisky and Tea to China

Major Chinese importers have expressed interest in Georgian products. Georgian olive oil, whiskey and tea will be exported to China, according to the Partnership Fund of Georgia. Official agreements have been signed with the Chinese Chamber of Commerce as part of the Economic Relations Development Business Forum of Dziangsi Province. …

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Sidetrack Road to Bakuriani Being Built

The Municipal Development Fund of Georgia is building the sidetrack path of Bakuriani. The project is financed by the European Investment Bank and its value goes beyond 6 million GEL. Within the framework of the project, construction of approximately 3 kilometers road is planned. Due to the absence of the …

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EU to Issue Bonds to Assist Georgia

European Union plans to issue bonds to assist Georgia and Ukraine, the Reuters reports referring to one of the EU officials. The bonds maturity will be April 2033. As a result of the mentioned issuance, Georgia will receive 15 million EUR assistance and Ukraine – 500 million EUR assistance. The …

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Georgian Seaports Lose 1.1 million Tons of Cargo

Georgian Seaports have lost 1.1 million tons of cargo. According to the January-October indicators, four seaports of Georgia handled 12.4 million tons of cargo, down 8% year on year. All four seaports have recorded downturn tendencies. Poti Seaport handled 5.1million tons of dry and bulk cargo, down 5 million tons …

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