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Economy

Thomas Melia: Appointment of Special Manager at Georgian Manganese is Expropriation

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Organized by Government of Georgia, the 25th anniversary of establishment of diplomatic relations between the USA and Georgia was held in Washington. At the event the participants discussed investment relations. Irakli Matkava, Deputy Minister of Infrastructure of Georgia, was questioned about inappropriate attitude towards major companies in Georgia. Thomas Melia, …

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Loan Dollarizations Decreased From 65 to 58 Percent

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“Commonwealth has positively assessed joint events and projects implemented by the Georgian Government and the national bank of Georgia,” Dimitri Kumsishvili says. According to the Finance Minister, high rates of dollarization are solid challenge for several countries, including Georgia. It has been five month since the beginning of our larization …

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Financial Inequality Deepens

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Georgia Ranks 8th in terms of Inequality of Financial Revenues among Georgian Citizens. According to information of Geostat, national statistics service of Georgia, in 2016 GINI coefficient in terms of total revenues made up 0.40 and this is a worsened indicator as compared to the previous year. The coefficient was …

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National Bank Starts Publishing Detailed Statistics of Finance Sector

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The National Bank of Georgia publishes structural data on financial sector infrastructure on monthly basis. However, this information covered only quantitative data for financial institutions before. Now users can get more detailed data on this sector. Particularly, two excel sheets “3.1-2” and “3.1-3” were added to the disseminated file “M3.1 …

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China, Georgia Celebrated 25 Years of Diplomatic Relations

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China and Georgia celebrated 25 years of diplomatic relations on June 9 in Tbilisi, capital of Georgia. Hundreds of people braved the hot humid weather to take part in the event– ‘China-Georgia Friendship Day’. Several tents lined Rike Park, featuring a wide range of Chinese wares, including artifacts, textiles, wine, …

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InterRAO Begins Arbitration Proceedings Against Georgia

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Russian energy firm InterRAO has begun arbitration proceedings in Stockholm against Georgia over electricity tariffs, Georgia’s deputy energy minister said. “We have now received a notification from the arbitration court and (are) ready to defend our position there,” Mariam Valishvili told Reuters. InterRAO confirmed that it had started judicial proceedings. …

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Georgia’s Air Freight Operations up 48% in January-May Period

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In January to May period Georgian airports performed 6 739 passenger and 5 380 cargo flights, including 5 380 regular and 1 359 charter flights, up 39.12% as compared to the same period of 2016 (4 844 flights). According to Civil Aviation Agency, quantity of flights via Georgia’s air space …

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Danish Government Allocates 29 800 000 Krone for Young Georgian Farmers

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Government of Denmark has allocated 29 800 000 Krone for implementing the project – Modernization of Agriculture Sector, Market Access and Flexibility. According to Nodar Kereselidze, first deputy Agriculture Minister, key objective of the grant is to encourage young farmers and involve them in agriculture activities. The mentioned sum will …

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