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Economy

Experts Estimate Preliminary Economic Forecast Released by Sakstat

Experts estimate preliminary economic forecasts published by the National Statistics Office. Irakli  Lekvinadze says that  in light of the tensions in the region, Georgia’s economic growth is being observed, which is positive. As per the  preliminary estimates, compared to the corresponding period of the previous year, the average real growth …

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EU: No New Funds for Ukraine to Cover its Gas Debt to Russia

The EU won’t provide any new funds for Ukraine to pay off its gas debt to Russia, and Moscow has no guarantees should Kiev use agreed funding elsewhere, said the EU Energy Commissioner’s spokeswoman Marlene Holzner. The European Commission is allocating €760 million ($954 million) of financial aid to Ukraine …

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The Dangerous Myth of Risk-Free Euro Debt

Most people don’t need to be reminded that, just a few years ago, Europe teetered on the edge of a full-blown sovereign debt crisis that nearly destroyed the common currency. But apparently European financial regulators do. In the recent “stress tests”—the European Central Bank’s assessment of European banks’ ability to …

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Experts Estimate Preliminary Economic Forecast Released by Sakstat

Experts estimate preliminary economic forecasts published by the National Statistics Office. Irakli  Lekvinadze says that  in light of the tensions in the region, Georgia’s economic growth is being observed, which is positive. As per the  preliminary estimates, compared to the corresponding period of the previous year, the average real growth …

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Safety Rules Tightened at Gas Stations

Safety rules have significantly tightened at gas stations in Georgia. According to the new norms, a fine in the amount of GEL 200-  1 500 will be imposed on the owner of the facility  if  safety rules are violated or   do not meet standards . A hidden operation of the station …

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Changes Made to Preferential Agro- credit Project

Ministry of Agriculture has made changes to the preferential agro- crediting scheme  as well as to a project of co-financing of processing enterprises.According to the Ministry, as a result of the project optimization, from January 2015 instead of the current 8 components there will be a preferential agro-credit of two components  : preferential …

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Russia’s Central Bank Boosts Ruble Liquidity

Starting October 27th Russia’s key financial regulator Central Bank introduced a new financial tool known as foreign currency repo, or repurchase agreement.   “These operations are aimed at further empowering credit institutions to manage their own short-term currency liquidity,” according to Central Bank of Russia’s press center.   The credit organizations …

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Air Cairo-new company in Georgian Air market

AirCAiro  announced the start of its new flights from Sharm el Sheikh to Tbilisi. The airline will operate two flights per week starting on November 2nd  and three flights per week, starting January 9th. Air Cairo is a low fare airline based in Cairo, Egypt. The airline is the low fare …

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Long -Term Socially Oriented Budget is Harmful

Experts have different views in regard to the Prime Minister’s statement that in 2015 the budget of Georgia will be socially oriented. In particular, according to the head of the government, within 2 years the “Georgian Dream” coalition’s staying  in power, the budget hasincreased by GEL 1 billion and became …

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Georgia increases health, welfare budget

Georgian state policy’s main priority is the human and his/her health, the Prime Minister of Georgia Irakli Garibashvili said presenting the government report for the last two years. “The health and welfare budget has been increased by about 1 billion GEL (1 GEL = 0.570440 USD). Yes, we budgeted that …

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