728x90
Home /

Blog Archives

Essence of Contributory Pension Reforms

Essence of Contributory Pension Reforms

Georgia  to Launch Pension System reformation in 3Q18. Government of Georgia plans to launch contributory pension reform implementation in the third quarter of 2018. Ministry of Economy has already published the corresponding bill. If the system comes into force, the special pension fund will manage the mobilized funds, accrue interest …

Read More »

Commercial Banks Rather Harm Economy than Benefit

When appointed as the National Bank President, Giorgi Kadagidze sharply criticized commercial banks and blamed them for frustrating economic development. However, the time passed and Kadagidze has never dared anymore to make sharp statements in relation to commercial banks. We have not heard sharp statements from the current president of …

Read More »

Tbilisi Economic Development in Figures

Georgia is getting ready for local self-government elections. Like the regions of Georgia, pre-election process  continues in the capital city too. Since Tbilisi occupies a leading position in the state economy, it is of crucial importance who will be elected as Tbilisi Mayor. Taking into account key problems in the …

Read More »

National Bank Lobbying Commercial Banks

Several days ago National Bank of Georgia (NBG) released a special statement promulgating that corporate bonds are not insured by either Government or NBG guarantees. Therefore, NBG warns the population to show caution when purchasing bonds. Issuance of corporate bonds started in 2014 and several companies have already issued similar …

Read More »

Economic Growth Pace Declines – GDP Growth Shrank by 3.8% in July

According to preliminary estimations, in July 2017, as compared to the same period of 2016, real GDP growth pace made up 3.8%, while in January-July 2017 the averaged real growth constituted 4.4%. It should be noted that this year the Government expects economic growth to mark 4%. «Starting January 2012 …

Read More »

Internal Debt – More Expensive than External Debt

State Budget Pays 0.5 bln GEL to commercial banks for Serving debts. Georgia’s state debts account for 13.8bln GEL as of May 2017, including external debts total 11.2 bln GEL, while internal debts account for 2.5bln GEL. It is worth noting that over the past years  state debts comply with …

Read More »

Violent Drug Policy Harms State Budget

Over the past months government members started active discussions on revision of current drug policy in the country. Prime Minister Giorgi Kvirikashvili and vice Prime Minister Kakha Kaladze made emphasis on necessity of revision of the current drug policy and urged the Parliament to accelerate process of adopting legislative amendments. …

Read More »

Liberty Act Restricting Freedom

Discussions of the constitutional bill is sharpening. Special regard is paid to the issue of sales of land to foreign citizens and article 94 (Liberty Act) that calls for conducting a referendum for introducing a new tax (excluding excise tax) or raising the existing rate, excluding the cases under the …

Read More »