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Economy

Government Allocates 4 million GEL for Technical Assistance of Farmers

Government of Georgia has approved a new program to ensure co-funding of mechanization process for farmers in Georgia. Prime Minister Mamuka Bakhtadze noted at today’s briefing that in 2018 exports volume in agriculture sector rose to 1 billion USD and the government support to the sector increased further. According to …

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ENPARD Launches Rural Development Project in Akhmeta

The European Union launched a new rural development project in Akhmeta in partnership with Action Against Hunger. The project “Promoting Inclusive and Participatory Local Development in Akhmeta Municipality” introduces a bottom-up, inclusive rural development approach that fully engages all communities in the municipality. The project is funded by the European …

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Prices and Georgia’s Karma

Over the past period, the current developments in the Georgian finance sector were being widely discussed in our society. The reasons are not positive – at this stage, everybody talks about tightened regulations that have brought serious negative effects, and the new norms are aim curb the accumulation of unreasonable …

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Prime Minister: Current Account Deficit is Key Source of Poverty

The current account deficit is one of the key sources of poverty in Georgia, Georgian Prime Minister Mamuka Bakhtadze noted. The narrowing deficit in balance of payments is one of the reasons why Fitch rating company has improved Georgia’s credit rating, Prime Minister Mamuka Bakhtadze noted. “We have managed and …

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New program to build and upgrade 100 km of East-West Highway

Georgia will be better connected to the EU and enjoy safer travel conditions within the country thanks to financial and technical aid from the EU. On 19 February, the European Investment Bank (EIB) and other EU institutions announced their support for a wide-ranging programme of transport infrastructure upgrading, approved by …

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Fitch Upgrades Georgia’s Sovereign Rating to ‘BB’

Fitch Ratings has upgraded Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BB-‘. The Outlook is Stable. KEY RATING DRIVERS The upgrade of Georgia’s IDRs reflects the following key rating drivers: The Georgian economy proved resilient to negative developments in 2018. Economic growth remained robust, the currency was …

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Levan Surguladze: Pensions Contributions are Safer than Other Assets

Interview with Pension Agency Chief Levan Surguladze -Starting January 1, 2019, The Contributory Superannuation Scheme was launched in Georgia. What are the advantages of similar schemes, and why have we introduced a contributory pension system in Georgia at this specific time? -I would ask why we have not we introduced …

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Fitch Upgrades Georgia to ‘BB’; Outlook Stable For the First Time

Fitch Ratings has upgraded Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BB-‘. The Outlook is Stable. KEY RATING DRIVERS The upgrade of Georgia’s IDRs reflects the following key rating drivers and their relative weights: High The Georgian economy proved resilient to negative developments in 2018. Economic growth …

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