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Economy

Budget Raised 107 million GEL from Privatization

In the first half of 2018 the state budget raised 107 million GEL from privatization process, including 44 million GEL were raised by local budgets. In January-June the state budget revenues from privatization were mainly replenished by sales of buildings and structures. As to local budgets, accent was made on …

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United Nations Predicts 4,3% Economic Growth in Current Year

The United Nations published the 2018 World Economic Growth Prognosis In 2018-2019, the United Nations is expecting 3% economic growth in the world. The United Nations is predicting for 4,3% economic growth in Georgia this year. According to the United Nations, the unemployment rate in Georgia in 2017 was 11.4%, …

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Radars and Smart Cameras to Supervise Traffic along Kutaisi Bypass Road

According to Interior Ministry, sectional radars will watch Kutaisi bypass road for metering traffic speed. The cameras will be installed in 10 sectors within 31-k section. Moreover, smart cameras for recognition of vehicles, which will detect both overspeed and other administrative offenses. According to Interior Ministry, smart video cameras and …

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Tornike Rizhvadze Names Key Challenges of Adjara Region

Heavy social situation in villages remains one of the key challenges in the region, Tornike Rizhvadze, head of Adjara Government, noted. “When talking about inclusive development, we imply maximum inclusion of our population in economic activities. We imply our citizens, who is not able to reap real results of economic …

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PFI Future Plans to Invest 100 Million EUR in Georgia

Mikheil Khidureli, Director of the “Produce Georgia” Agency of the Ministry of Economy and Sustainable Development met with Polish company PFI Future representatives. The company is interested in development of multifunctional tourism infrastructure in Tbilisi and Batumi. The project includes oceanarism, hotel, entertainment center, conference space and other types of …

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Georgia Exported 83.5 Thousand Tons of Oil Products within 5 Months

Georgia exported 83.5 thousand tons of oil and oil products in the 5 months of current year. Georgia’s oil tariffs are quite low and the biggest share of export comes to re-export. Import of oil products significantly exceeds its exports. In particular, according to Geostat data, in January-May, Georgia imported …

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Georgia-China Negotiations on International Car Transportation Completed

Negotiations between the People’s Republic of China and Georgia on “International Passenger Transport Agreement of Passengers and Freight” has completed successfully in Beijing. As a result of the negotiations, the Georgian side managed to reach an agreement with the Chinese side, resulting the parties underlined the text of the agreement …

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Georgia’s Exports and Imports Reached their Highest Point in 3 years

The first half of 2018 produced some interesting figures regarding Georgia’s external trade. Even though the existing data is only preliminary, the analysis thereof unveils some curious results, PMC Research Center reports. Georgia’s exports and imports reached their highest point for the observed period of 2015-2018. In the first half …

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Annual Inflation Rate Makes up 2.8%

In July 2018, compared to June, inflation rate made up -0.3%, but annual inflation index totaled 2.8%. According to Geostat, national statistics service of Georgia, change in prices in the following groups have influenced monthly inflation indicator: food and soft drinks: prices declined by 1.1%, which made -0.32% on the …

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Kutaisi Airport Served Record Number of Passengers

According to Ministry of Economy and Sustainable Development’s LTD ”Georgian Airports Association”, as for the data of July 2018, the passenger traffic in Kutaisi Davit Aghmashenebeli Airport has increased by 52% compared with the same period last year. In July, Kutaisi Airport served a record number of passengers – 75,372 passengers …

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