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Economy

More Than 14 Million USD was Invested in the Resort Biol

The Prime Minister Giorgi Kvirikashvili visited the medical-recreational resort “Biol” together with Tarzisius Caviezel-the Mayor of Davos and opened a new conference hall. The Prime Minister talked about perspective development of the resort and thanked its founder Tamaz Mchedlidze for the development of alternative medicine base. “Tamaz Mchedlidze is a …

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Winemakers Expected to Process 150 000 Tons of Grapes in 2017

Winemakers Expected to Process 150 000 Tons of Grapes in 2017

Kakheti Region has started vintage preparations. The Minister of Agriculture has held a preparatory meeting with entrepreneurs and noted that both Government and private sector are ready for conducting the vintage in an organized way. The head of National Wine Agency says that Georgian wine exports has increased and the …

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Georgia to Restore HPP of 1899 and Arrange Museum Space

Georgian Energy Development Fund has announced tender for conducting feasibility studies for Borjomi hydro power plant and purchasing consulting services. Borjomi HPP is one of the oldest power stations in the former Russian Empire. The facility launched operation on January 15, 1899. Two turbines of Pelton type used to function …

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More than Half Million Tourists Visited Batumi in Six Month

Batumi airport received 67% more visitors compared to the same period of previous year. According to the Government of Ajara, 20-22 flights are done at Batumi International Airport per day and more than half million tourists have visited the region in just six month on the year. In the first …

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Galt & Taggart announces Georgia’s Economic Growth by 4.6%

Real GDP grew 4.6% y/y in June 2017 Georgia’s economy expanded 4.6% y/y in June 2017, after growing 5.3% y/y in previous month, according to GeoStat’s rapid estimates. Overall, in 1H17 GDP growth was 4.5% y/y. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics. Tourist arrivals …

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Budget Organizations Spend 34.6mln GEL on Official Business Trips in 1H17

In the first half of 2017 budget organizations spent 34.6mln GEL on official business trips, including the Parliament spent 1.2mln GEL, the President’s administration – 401 636 GEL, Government’s office – 1.4mln GEL. In January-June period Ministry of Finance spent 90 792 GEL on official business trips, Ministry of Economy …

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Commercial Banks Issue 60.5mln GEL as part of Produce in Georgia Program

In January-June 2017 Entrepreneurship Development Agency signed agreements with 47 beneficiary companies on co-financing credit and leasing interest rates as part of Produce in Georgia program, including agreements were signed with 11 beneficiary companies on hotel industry promotion. According to the January-June budget fulfillment document, commercial banks issued 60.5 million …

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State Electrosystem Revenues Rose by 15% in 2016

Revenues of Georgian State Electrosystem and its subsidiaries rose by 15% in 2016, from 104.3 million GEL to 120.2 million GEL as a result of growth in revenues from transmission. At the end of 2016, the company’s cash amount on the account totaled 25.3 million GEL. In 2016 transmission dispatching …

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Establishing EU Instructions – Georgian Railway Sharing French Experience

Georgian Railway is getting to know experience of National Railway Company of France (SNCF). A group of experts of the railway company of France is consulting Georgian colleagues in establishing European instructions and carrying out structural reforms. Frederic Parde, director of international projects of SNCF, noted that the world goes …

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