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Economy

Price Index of Construction Works Grows by 4.3% Quarter on Quarter

Price index of construction works has increased by 4.3% quarter on quarter, mainly due to growing employment in construction sector. Averaged monthly nominal salaries rose by 13.9% and their effect on the total index constituted 3.53%. In the reporting period prices rose by 1.3% on construction materials, by 0.5% on …

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Pip Oil Processing Plant Opens in Velistsikhe

A pip oil processing plant has opened in the village of Velistsikhe, Gurjaani municipality. Ukrainian company Eco Georgian Group has made investments of 1 million GEL in the plant, which is equipped with cutting-edge machineries. This year the plant will produce 3 000 tons of grape Chacha to manufacture 55-60 …

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BPC Company Exports Juice Products to Qatar

BPC bio juice products manufacturing company launched exports of its products to Qatar in early September – the company exported one container of dog-rose and cherry natural juice products. The company director Nino Abashidze told BM.Ge that this year they sent several test boxes to Kuwait in 2018, as well …

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IMF Managing Director and PM Discussed Progress Under Georgia’s Economic Reform

Following a meeting with Georgia’s Prime Minister Mamuka Bakhtadze in Washington today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund, made the following statement: “Prime Minister Bakhtadze and I discussed the good progress under Georgia’s economic reform program supported by the IMF’s $285 million Extended Fund Facility. The …

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IMF Upgraded the Economic Growth Projections for Georgia

Mamuka Bakhtadze

Prospects of economic growth of Georgia and progress achieved towards macroeconomic stability were discussed by Mamuka Bakhtadze, Prime Minister of Georgia and Christine Lagarde, Managing Director of the International Monetary Fund (IMF) in Washington D.C. Focus was made on the reforms planned by the Government of Georgia, which are aimed …

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Exports from Georgia to CIS Countries Increased by 51.3%

In January-August, 2018, exports from Georgia to CIS countries amounted to 1 025.6 million US dollars, which is 51.3 percent higher than the previous year’s index, and 47.8 percent of the country’s total exports. Import was amounted to 1 744.9 million USD (23.7 percent more), which is 29.3 percent of …

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Government to Free Electric Minibuses and Busses from VAT and Imports Taxes

Kakha Kuchava, head of the parliament’s committee for environment protection and natural resources talks about the new bill which calls for exempting electric minibuses and buses from imports and VAT taxes. “Electric minibuses bought by any person, not by only public offices, will be exempted from imports and VAT taxes”, …

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Which Countries Have Positive Trade Balance with Georgia?

In January-August 2018 Georgia exports made up 2 146 million USD and imports constituted 5 954 million USD. Despite Georgia’s negative trade balance in January-August  and the deficit of 3 808 million GEL, the country has positive trade balance of more than 2 million USD with 10 countries. The reporting period recorded the …

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ESCO: Electricity Export Declines by 14% in Eight Months

In August 2018, the quantity of balancing electricity, purchased (sold) through ESCO was 178 322 147.1 kWh, which represents 17% of total delivery to the grid in mentioned month. The cost of balancing electricity have made up GEL 21 146 639.06. In August, the Weighted Average Price of balancing electricity per …

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