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Economy

NBG President Refuses Larization Signifies GEL Exchange Rate Stabilization

koba-gvenetadze

Larization program is not to stabilize GEL exchange rate, National Bank President Koba Gvenetadze noted at the parliament’s finance and budget committee meeting. “Government has carried out the social program of Larization with the technical support of NBG. Expediency of the social program may be always disputable”, Koba Gvenetadze said. …

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WB Allocates Additional Finances for Highway Improvement

World Bank

The World Bank (WB) has allocated additional financial resources for East-West highway corridor improvement. Government of Georgia and IBRD have signed an agreement on Additional Financing of East-West Highway Corridor Improvement Project. The document was signed by Minister of Finance Mamuka Bakhtadze and WB regional director in South Caucasus Merci …

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Georgia Close to Finalising New Energy Law in line with EU Standards

Georgian national authorities and representatives of the Energy Community Secretariat recently met in Vienna to finalise the country’s new Energy Law. Agreement was reached on the majority of the law’s provisions. The main and final goal is to ensure its compliance with the Third Energy Package. The discussion mainly focused …

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Poti Seaport Makes Our Corridor Development Perspectives Questionable

“Poti Seaport makes the Black Sea corridor development perspectives questionable”, Minister of Transport Merab Adeishvili wrote on his own Social network page. Cargo turnover in the Black Sea seaports made up 500mln tons in 2016, he said. Novorosiisk – 131.4mln tons; Constanza – 46.2mln tons;  Iujni – 39.2mkn tons; Kavkaz …

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70% of Business Turnover Comes on Tbilisi

The volume of business sector turnover increased by 19.7% in the third quarter of 2017, to 18,6 billion lari. The growth trend is characterized by the output of the business sector products. In the III quarter of 2017, its volume was determined by 10,1 billion GEL, which exceeds the indicator …

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The Annual Inflation Rate Amounts 6,9%

In November, the inflation rate in Georgia amounted to 1.1 percent and the annual inflation rate is 6,9 percent. According to the statistics, the change in prices in the given period has been a major influence on the following groups: Transport: Prices in the group grew by 2.8 percent, which …

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Economic Growth in October Hit 5.7%

According to preliminary estimations, as compared to the same period of 2016, in October 2017 real GDP growth pace made up 5.7%, while the 2017 January-October real upturn constituted 4.9%. According to Geostat, national statistics service of Georgia, the growth was recorded in the following fields: hotels and restaurants, processing …

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Georgian Businessman Plans to Build Seaports in Slovakia

Nodar Giorgadze, founder of GINO Wellness Group, plans to build seaports in Slovakia. Negotiations are underway with Government of Slovakia, the businessman told the Business Course. The seaport in Bratislava will be able to receive 150 ships. The seaport on the river Danube will make focus on tourism business mainly. …

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