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Economy

Gov’t Toughens its Tone towards “Tav Georgia”

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A very unbalanced agreement was signed with Tav Georgia due to which the company did not fulfill many obligations. Minister of Economy and Sustainable Development  George Kvirikashvili told “Commersant”. “So, we made a decision to change the format of the contract and get an agreement  under which the company will  pay more attention to …

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Flour Milling Plant Outraged by a Delay in the Launch of Competition Agency

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As reported, the head of the newly created Competition Agency George Barabadze told “Commersant” that he didn’t see  features of existence of monopolies in Georgia. In response, President  of the Grain Growers Association of Georgia  Levan Silagava told “Commersant”  that the words of the head of the service were immoral, but expressed hope that the …

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Azeri Media Predicts a Boom of Azerbaijani Tourists in Georgia

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In addition to Ukrainian tourists, Georgia actively attracts guests from Azerbaijan. The  Azeri edition haqqin.az writes, Azerbaijani tourists prefer to go abroad refusing the  local resorts. Unlike previous years, this tourist season Azerbaijani citizens massively come to rest traditionally not only in Turkey, but also in Georgia. In recent years, Georgia has …

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Finance Minister: Economic Activity Grew by 13%

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An interview with Finance Minister Nodar Khaduri In April, the economic growth amounted to 2,7%, which in your opinion was associated with decreased activity of casinos. Can you confirm this opinion?  In May, the economy grew by 6,3% – 6,5%, economic activity grew by 13%, including in construction by 31%. …

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Electricity Price can Rise in Georgia in the Autumn

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In the autumn, electricity price may change in Georgia – “Business Rezonansi” newspaper writes. The grounds for such assumptions gives the fact that the company “Energo Pro – Georgia”, which provides electricity generation and distribution to regions of the country, has made a request to change the tariff to the Energy …

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Grain Growers Waiting for Incentives from Gov’t

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After the abolition of privileges for importers, grain growers  have already carried out first purchases. However, purchases are not finished yet and it’s unclear how the abolition of privileges will affect the final outcome. Companies  with annual turnover of more than GEL 200 thousand were able to postpone the VAT payment. However, …

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Economy Ministry Suspended the Renewed Privatization of Farmland

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Georgian Economy Minister Giorgi Kvirikashvili suspendedthe privatization of agricultural land, which was renewed after theConstitutional Court invalidated the Moratorium on the sale of farmland to foreign nationals. According to the Minister, at this stage privatizationwill not be carried out. “My decree suspended the sale of land, as the government is currently working on establishing a mechanism of privatization, and taking into accountinternational practice it will be necessarily to adopt a law that will …

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Budget and Finance Committee of Parliament: A Complete Ban on the Sale of Land to Foreigners Creates Problems

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How much did you expect the Constitutional Court’s decision  on lifting the Moratorium on sale of agricultural land to foreign nationals?  The Moratorium was not a constant norm, it was a temporary restriction before the end of the year. The reason for this was a fact  that under the previous government there was no detailed information about how much …

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