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Economy

George Kvirikashvili Considers a Refinancing Rate Increase an Adequate Solution

Minister of Economy and Sustainable Development, Vice-Prime Minister Giorgi Kvirikashvili considers  the National Bank’s decision on refinancing rate  increase in the current situation an adequate solution. Kvirikashvili assessed the central bank’s yesterday decisions at the Cabinet meeting  and noted that the economic team was informed about this. “As you know, …

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Gov’t discusses ways to maintain financial stability in Georgia

The Government of Georgia is pledging to do everything it can to ensure the country enjoys financial stability. The Government’s economic team has already begun to take action in a number of directions, including increasing the number of visitors to Georgia, encouraging export and supporting the construction sector. These were …

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Hungary invests in Georgia’s entrepreneurship development

Hungary’s Eximbank will allocate $ 50 million for the development of entrepreneurship in Georgia. This statement was made during the Georgian-Hungarian Business Forum, held in Budapest, the Georgian government said. Georgian Prime Minister Irakli Garibashvili attended the business forum as part of his official visit to Hungary. During the forum, …

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Russian Market Closed for Georgia

“Commersant” reports that  the Russian market has become unprofitable for the Georgian producers and, accordingly, the export is almost stopped. According to a source, a large number of trucks with alcoholic beverages and mineral water has accumulated at the Russian-Georgian border , companies exported fruits to Russia also face big …

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US-Georgia trade-economic relations discussed

The US trade mission will visit Georgia on March 11-13, Speaker of the Georgian Foreign Ministry David Kereselidze told reporters. The agreement was reached during Georgian Foreign Minister Tamar Beruchashvili’s visit to the US. “Besides the political dialogue, the attention was paid to the trade-economic relations between the two countries …

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Georgia to host EBRD 2015 Annual Meeting

The European Bank for Reconstruction and Development (EBRD) and Georgia signed a memorandum of understanding which creates the foundations for the organization of the 2015 EBRD Annual Meeting in Tbilisi, EBRD said in a report on Feb. 10 The event, to take place on May, 13-15, will be the EBRD’s …

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Kutaisi International Airport could begin flights to Spain, Germany

Kutaisi International Airport is in talks with a range of international airlines to bring new air carriers, add new routes and increase flights from the regional airport. Airport officials are in negotiations with Spain, Turkey, Germany and other Asian countries regarding new flight services to the Georgian airport. In an …

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Georgia receives first cargo train from China

Georgia is celebrating the arrival of the first cargo train from China, which will bring millions of dollars to the local economy and encourage trade between China, Georgia and the rest of Europe. The train departed China in late January and travelled on the new railway track to Georgia as …

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Foreign Direct Investment Exceeded $ 1 Billion 150 Million in 2014

Foreign direct investment (FDI) has exceeded  $ 1 billion 150 million in 2014 – predicts Director  of the Georgian National  Investment Agency George Pertaia. According to him, due to the factors contributing to GEL stability, tourism has  not significantly increased. Remittances and exports have  reduced, foreign direct investment is the …

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