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Economy

Georgian Cognac is On Sale in Australia

Company ”Sarajishvili” ended 2017 year with growth of 37% of exports, the company has sold 24 million GEL worth products, half of which was exported. Company founder Zurab Bubuteishvili shares that they entered two markets last year: Australia and Azerbaijan. Company sells Georgian brand to 15 export markets, where important …

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Inflation Rate Reduced in Georgia

In February 2018, the inflation rate in Georgia amounted to 0.2 percent and the annual inflation rate was 2.7 percent. According to the statistical data, prices have changed substantially on the formation of the inflation rate: Food and non-alcoholic beverages: Prices increased by 0.4 percent, which was reflected in the …

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The Results of the Program Enterprise Georgia

Enterprise Georgia is the first government institution in Georgia mandated to facilitate export and private sector development through a variety of financial and technical support mechanisms. Being the first state agency mandated to facilitate private sector development in the country Enterprise Georgia employs different approaches and mechanisms to support Georgian …

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Georgian Airways Adds 11 New Destinations from March 25

On March 1st, at 13:00, Georgian Airways’s’ Director General Givi Davitashvili is holding a press conference on 11 new directions of the airline. Adding direct flights is aimed at saving time for passengers and creating maximum comfort. This successful step of the airline will facilitate the development of national aviation …

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New Enterprise Opened within Enterprise Georgia Programme

First Deputy Prime Minister, Minister of Economy and Sustainable Development, Dimitri Kumsishvili, officially opened “Polymer 1” Ltd on February 28, a corrugated pipe manufacturing plant supported by the Agency “Enterprise Georgia”. The company has been conducting polyethylene pipes for drinking water and gas mains since 1985, and with the support …

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Cooperatives Attracted 32.2 Million GEL Last Year

By 2017, 1270 cooperatives are registered in the Agricultural Cooperative Development Agency. According to the report of the Minister of Agriculture, Levan Davitashvili, in the Parliament of the Agrarian Issues Committee, presented in the report of 2017, the number of beneficiaries combined in cooperatives is 11 664 and the attracted …

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Shadow Sector’s Ratio in Georgian Economy Exceeds 50%

Mariam Lashkhi

Austria is the world’s second least shadow economy following Switzerland, according to the 2018 IMF report saying that Switzerland has the lowest shadow economy ratio in GDP  (7.2%), while the highest ratio is recorded in Bolivia (62.3%). According to the IMF interpretation, shadow economy is known under various names: hidden …

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180 Entrepreneurs Get Surplus VAT back under Simpligied System

TAX VAT

A total of 180 entrepreneurs have got back surplus VAT under the simplified system, Minister of Finance Mamuka Bakhtadze noted in his live address on Facebook. This is fourfold more amount than in 20167, he said. “To implement the mentioned reform in 2017, we created important buffers. We want that …

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