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Economy

Partnership Fund to Direct over 150 million USD Capital to Market in 2015

Irakli Kovzanadze, the Partnership Fund executive director, talks about the Fund’s activity and the current problems before the Georgian economy – Mr. Irakli, you are reported to have introduced innovations into the production sector. Namely, the project of the so-called Sandwich Panels has come to a final stage. What does …

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IMF focuses on Georgia’s Economy with PM Garibashvili

IMF focuses on Georgia's economy with PM Garibashvili

Georgia’s developing agricultural sector, growing export trends and reputation as a top tourism destination is having a positive effect on the country’s growing economy, says the country’s Prime Minister. Today Prime Minister Irakli Garibashvili spoke with world financial experts from the International Monetary Fund about Georgia’s economic process and macroeconomic …

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WIPO Supports Georgia Establish an Intellectual Property System

WIPO Supports Georgia Establish an Intellectual Property System

A specialized intellectual property agency of the United Nations is helping to develop Georgia’s economy by supporting the country develop an intellectual property system that will support innovative startups. The World Intellectual Property Organization (WIPO) is sharing top international experience with Georgia about how to create innovative enterprises. WIPO is …

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Central Bank of Russia will Acquire 100 ML USD Daily

Russia’s Central Bank bought 200 ml USD on its internal currency market on May 26, the Russian news agency InterFax reported. In national currency the amount constituted 10,1 billion Rubles. Central Bank of Russia has been executing such operations since May 13. Local news agencies report that the Central Bank …

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Azerbaijan Reduces car Import From Georgia

Azerbaijan reduces car import from Georgia

May 26-Some 1,737 cars worth $32.8 million were exported from Georgia to Azerbaijan in January-April 2015 or by 5.8 times less than in the same period of 2014, the Georgian National Statistics Service said in its foreign trade report as of January-April 2015. The share of this category of goods …

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Georgia should not be a Poor Country, Says Prime Minister

Georgia should not be a Poor Country, Says Prime Minister

The Prime Minister of Georgia Irakli Garibashvili  announced that Georgia should  not be a poor country today. As the Prime Minister has said at the Diaspora professional forum, Georgia has a lot of resources that can be used. “We have a major problem such as  inefficient use of our resources. …

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In 2014, Unemployment Rate in Georgia Lowered 2.2% and Totaled 12.4%

In 2014, Unemployment Rate in Georgia Lowered 2.2% and Totaled 12.4%

According to the National Statistical Service, in 2014 Georgia’s unemployment rate lowered  2.2 percentage points compared to 2013 and totaled 12.4 percent. It should be noted that in 2014 the unemployment rate hit 11 -year lows. In  2014 the economically active population made 66.5 per cent of the  working-age population …

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Should Georgia Construct High-Risk Hydro Power Plants?!

Green Alternative and Green Fist nongovernmental organizations urge EBRD not to finance high-risk projects in Georgia. A Green Fist representative Khatia Maghlaperidze says EBRD is financing a construction of three HPPs in Georgia, namely, Dariali, Shuakhevi and Paravani HPPs. However, environmentalists have recently learned EBRD also plans to construct supposedly …

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Meeting Held with Farmers in Frames of Agriculture Support Project

An informative meeting with farmers was held in the Saguramo-Mukhrani service center of the Georgian Amelioration company. The meeting was held in frames of the communication campaign for the Agriculture Support Project (ASP) of the International Fund for Agricultural Development (IFAD). The meeting informed farmers about effective management of soil …

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Global Jobs gap Costs $1.2 trn in Lost Wages

Global Jobs gap Costs $1.2 trn in Lost Wages

Some 61 mn fewer people were employed in 2014 than there would have been had pre-crisis employment growth trends continued. The global financial crisis of 2008-10 had a big impact on jobs. Employment growth has stalled at a rate of about 1.4 per cent per year since 2011. While this …

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Economic Factors Contribute to the Lari’s Rise

Economic Factors Contribute to the Lari’s Rise

After November 2014 the rate of the national currency fell by almost 35% – at this stage it is possible to argue how great is an imbalance between currency spending and earnings, how adequate is the current rate of the lari, but the fact of imbalance does not cause doubts. …

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Iran, Georgia discuss ways to boost trade ties

Iranian Deputy Labor Minister Mohammad Taqi Hosseini and Georgian Economy and Sustainable Development Minister George Kvirikashvili discussed ways to boost trade ties between the two countries. In the 5th joint economic committee meeting, which was held in Tehran, the two sides referred to transit and energy as the two fields …

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