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Economy

Average Salary for Men is 1468 GEL, for Women – 906 GEL

According to Geostat, the national statistics service of Georgia, according to the fourth quarter of 2018, average salaries in Georgia made up 1202 GEL, up 61 GEL year on year. At the same time, average salaries for men makes up 1468 GEL and for women – 906 GEL, down 38% …

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Rehabilitation Project of Dry Bridge Area Begins

The rehabilitation works of Dry and Saarbrücken Bridges, March 9 and Deda Ena Park begins in Tbilisi. The rehabilitation works will be implemented within the framework of the project “New Tiflis” aimed at creating a large tourist route in the historic part of the city, connecting old and new rehabilitated zones, …

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Georgia and Tajikistan Signed Agreement on International Road Transport

“Tajikistan is interested in the development of the trade and economic relations with Georgia and the development of the transport links in different directions are of utmost importance in this regard,” – representatives of the Ministry of the Transport of the Republic of Tajikistan stated at the meeting with the …

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The Volume of Pension Fund Reached 100 Million GEL

The volume of pension fund reached 100 million Georgian Lari. First Channel was informed about the amount by the pension agency. Part of the funds are currently on deposits of commercial banks, while part of them on National Bank account. In the case of the National Bank, the annual interest …

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Georgia to Open Embassies in UAE and Vietnam

Georgian Prime Minister Mamuka Bakhtadze said Tbilisi plans to open its embassies in the United Arab Emirates and Vietnam in the course of 2019.  Announcing the move, PM Bakhtadze said the decision was taken with view to enhancing economic cooperation with “rapidly-growing economies of the Gulf and Asia.” “Georgia’s more …

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The Value of Credits in Georgia – International Experience

Where can we find or borrow money which would be easy to return at the lowest interest rates? Are there, anywhere, similar creditors? It turns out that similar creditors do genuinely exist. It is a widespread practice in many  countries, where central banks issue loans to commercial banks with the …

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Foreign Direct Investments in Fishing Industry Grows by 29%

Foreign direct investments in agriculture sector and fishing industry have increased by 29%. According to preliminary indicators, in the fourth quarter of 2018, FDI inflows in agriculture sector and fishing industry made up 4.9 million USD, up 1.9 million USD (+62.4%) year on year. Over the past 3 years FDI …

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Prime Minister: Government to Develop Mediation Institute in Georgia

Government of Georgia plans to develop the mediation institute. At the briefing, prior to the government meeting, Prime Minister Mamuka Bakhtadze noted that the mediation institute will ensure rapid resolution of small disputes and the court system workload will be alleviated. “Today Ministry of Justice will submit a very important …

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