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Economy

Georgia’s Electricity Consumption Grows

In November 2017, domestic electricity consumption rose by annual 6.7%, while the January-November growth constituted 8.6%. According to G&T, the November growth was mainly preconditioned by a 6% upturn of consumption of distribution companies and a 31.9% upturn of direct consumption after Georgian Manganese increased electricity consumption by 48.2%. Energo-Pro …

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Georgia to Launch 3 New HPPs in 2018

Three new hydro power plants (HPP) will launch operation in Georgia in 2018: Kasleti HPP 2 will open in November 2018. Its installed generation is 8.1 megawatts. Presumable annual generation is 45.8 million kw/h. The company is being built by Hydrolea company. Kheori HPP will also launch operation in November. …

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Government Sold 97 949 476 GEL State Properties in 2017

Government Sold 97 949 476 GEL State Properties in 2017

In 2017 Government of Georgia received 97 949 476 GEL revenues from sales of state property. According to National State Property Agency, 1897 electronic auctions were announced in 2017 and the highest bid was recorded for the state property in Tsikhisdziri – 13 650 000 GEL. The new owner plans …

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EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

On January 5 Government of Georgia and European Bank for Reconstruction and Development (EBRD) have signed an agreement for financing Enguri HPP Rehabilitation Project – Sustainable Development for Climate Conditions. The document was signed by Minster of Finance Mamuka Bakhtadze and EBRD regional director in the Caucasus, Moldova and Belarus …

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7.5 million Visitors Arrived in Georgia in 2017

7.5 million Visitors Arrived in Georgia in 2017

7.555 million visitors arrived in Georgia in 2017, up 200 000 visitors as compared to the 2016 indicators, Giorgi Chogovadze, Head of National Tourism Administration, noted. “We have serious growth in the part of revenues and total amount will hot 2.7 billion USD. We expect the next year to attract …

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Wind Power Station Generated 87.8 million Kw/h in 2017

In 2017 Kartli wind power station generated 87.8 million Kw/h electricity and supplied the power to the distribution network. The power station was put into exploitation on December 20, 2016 and was registered as a qualified facility on January 27, 2017. Based on financial and technical characteristics of the project, …

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EU Transfers GEL 140 million to Georgia in Support of Reforms

The European Union (EU) has transferred GEL 140 million (EUR 48.1 million) of non-reimbursable aid to Georgia in acknowledgement of commonly agreed reform progress in 2017 in several sectors: Trade and business development Vocational education and employment Aagriculture Integration of internally displaced people (IDPs). Payments were also made for Georgia’s …

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Sakcable Ends Year in 15% Upturn

Sakcable company has finished the year of 2017 in 15% growth, including exports rose by 20%. The company director Edisher Mamaladze told BM.Ge that Sakcable plans to expand activities on exports markets and enter European market. “There are certain norms that should be protected by all companies, which plan to …

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Georgia Will Invest 1.7 billion GEL in Rural Development in 2018-2020

The Government of Georgia adopted the National Rural Development Action Plan 2018-2020 on December 27, 2017, following the earlier recommendations of the Inter-Agency Coordination Council for Rural Development of Georgia, chaired by the Ministry of Environment Protection and Agriculture. With the total budget of more than 1.7 billion GEL, the …

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Georgian Insurance Market – Industry Evaluates 2017 Year

The Georgian insurance market registers 16 operators. The industry representatives assert that competition is sharp. As a result, customers have access to various insurance products and services. At this stage, the 2017 financial indicators remain unknown. However, according to the official statistics of the Insurance State Office, in January-September insurance …

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Turkmenistan Expecting Investments from Georgian Companies

The State Migration Service of Turkmenistan hosted a meeting with Ambassador Extraordinary and Plenipotentiary of Georgia Giorgi Karalashvili, said the Migration Service in a message. The dynamics of Turkmen-Georgian migration relations is growing after the expansion of projects in the field of economic cooperation, which shows the possibility of increasing …

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Agro Solutions Names 5 Important Events in Agriculture Sector in 2017

Irakli Chikava, founder of Agro Solutions agro consulting company, noted that the year of 2017 was full of agro innovations. Namely, there were several important events, which have determined a general situation: Appearance of marmorated stink bugs, which have brought serious problems to Georgia and which is expected to worsen …

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