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Economy

Challenges of Digital Monetary Policy

Digital currency makes influence on global monetary system, which has been developed by private and civil bodies. Digital currency is considered as an asset stored in electronic form that performs the same function as the physical currency.  Digital currency comprises cryptocurrency shaped in the form of digital record  (Bitcoin, Litecoin, …

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Tbilisi Hosts Belt & Road Forum For the Second Time

Georgian Government to host Belt & Road Forum for the second time this year on 28-29 November in Tbilisi. Biennial Event, part of topical Forum series, carries forward a tradition of Tbilisi Silk Road Forum held in 2015 to provide a platform for discussions of various important issues related to trade …

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Gvenetadze: We Expect 4.5% Growth This Year

Gvenetadze: We Expect 4.5% Growth This Year

National Bank of Georgia (NBG) does not hurry to review the growth projection, but predicts that the growth will exceed supposed rate (4%). President of the NBG says that macroeconomic indicators are being constantly analyzed, based on which the economy growth might exceed 4.5% late this year. It should be …

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Turkmenistan Expands Trading Ties with Georgia

The opening ceremony of the Tbilisi Sea Plaza shopping mall was held in Tbilisi, Georgia, the Turkmen Foreign Ministry said in a message. According to the message, “Turkmenistan” store with a wide range of textile products, carpets and rugs, souvenirs, was opened in the shopping mall. Georgian Prime Minister Giorgi …

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IPM: 55 000 Citizens of Georgia Enjoyed Visa-free Regime with EU, 77 Ones Expelled

Georgian media agencies actively cover the developments after visa regime liberalization. Tourists flow has significantly intensified to the countries covered by the visa regime liberalization agreement. Namely, more than 55 000 citizens have enjoyed the visa-free regime agreement opportunities during 3 months, IPM media monitoring and research company reports. According …

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Investments in Fixed Assets of Agriculture Sector Doubles

According to information by Ministry of Agriculture, investments in fixed assets of agriculture sector considerably increased in 2016 and made up 180mln GEL, up from 80mln GEL in 2015 and up from 110mln GEL in 2014. The 2016 indicators have doubled as compared to 2015, Ministry of Agriculture reports. According …

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Tourism Growth Achieved 28.8% in Georgia

Tourism Growth Achieved 28.8% in Georgia

The number of international visitors is growing in Georgia. The country was visited by 5.822 billion international visitors through 9 months, more than 19.2% comparing to the previous year. The number of those entities has been increased who stayed in Georgia for 24 hours and more. The number of tourists …

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2018 State Budget Allocations for Ministries

Ministry of Finance of Georgia published the 2018 state budget bill, under which total budget expenditures will rise by 949mln GEL as compared to 2017. Major growth in budget funding is provided for Ministry of Regional Development and Infrastructure – 572mln GEL. The funds will be mainly spent on road …

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Record Dividends of Excise Tax Growth

Growth in excise tax is an important instrument that is justified by state funding principle and specific goals. Over the past years, Georgia’s economic growth pace has declined and it has become necessary to implement efficient approaches of economic policy. To this end, in the shortest period, «without much efforts …

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EU Proposes New Macro-Financial Assistance to Georgia

The European Commission proposed new Macro-Financial Assistance (MFA) to Georgia, worth up to €45 million. According to an EU press release, if adopted by the European Parliament and the Council, this assistance would help Georgia cover part of its external financing needs. “Today’s proposal for additional assistance is another sign …

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