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Tag Archives: business sector

Pension System Enforcement will Increase Expenses in Business Sector?

The pension system reform will be enforced in Georgia starting 2019. Employers, employees and the Government will pay equal deposits to the Pension Fund simultaneously. Namely, employees will pay 2% of the salaries to the Pension Fund. Employers and the Government will also pay 2% each to the employee’s pension …

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Business Sector Regains 333 million GEL Surplus Tax

As of October 2018, the business sector got back 333 million GEL surplus taxes. According to Ministry of Finance, as a result of revised procedures, the business gets back surplus tax without obstacles. As to introduction of automatized return system, according to the official answer to the Business Morning program, …

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Business Sector Creates 12 600 New Job Places in 3Q17

In the third quarter of 2017 the business sector created 12 600 new job places (+6.3%), as compared to the same period of 2016. In the reporting period, the business sector had employed 643 900 citizens, according to Geostat, national statistics service of Georgia. 35.9% of total number of employees …

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Contributory Pension System will not Burden Business Sector

Essence of Contributory Pension Reforms

Government of Georgia plans to launch contributory pension reforms in the second half of 2018. The scheme of the reform is as follows – all citizens will be involved in the pension scheme, who take salaries under signed labor contracts. The system comprises partly  obligatory component. Citizens over 40 years …

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Tbilisi’s Ratio in Business Sector’s Turnover Accounts for 71%

The business sector’s turnover volume in the second quarter of 2017 rose by 16.9% year on year and totaled 16.6bln GEL. According to Geostat, the business sector’s output has also increased to 8.9bln GEL, up 18.9% year on year. Due to regions, Tbilisi ranks first in total turnover:  Tbilisi 0 …

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Average Salary in Business Sector Totaled 1106.9 GEL

In the second quarter of 2017, averaged monthly salary in the business sector totaled 1106.9 GEL, up 128.8 GEL year on year, including the figure for women made up 816.3 GEL, up 88.8 GEL year on year. According to Geostat indicators, averaged monthly salaries due to the size of enterprises …

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Business Sector’s Turnover Rose 15.3% in 4Q16

In the fourth quarter of 2016 the business sector turnover rose 15.3% year on year and constituted 17.4 billion GEL. The business sector’s production volume have also grown to 8.8 billion GEL, up 20% year on year. According to Geostat, the national statistics services of Georgia, in the reporting period …

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The Number of Employees in Business Sector to Increase

Despite of difficult economic circumstances and existing challenges, the business sector in Georgia is growing. According to the statistics, the trend of growth of employment in business sector is obvious from the recent research results. National Statistics Office of Georgia published data which shows that the number of employed working …

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Georgian Weekly Marketwatch by Galt& Taggart

Galt &Taggart

The leading investment banking and investment management services company in Georgia Galt & Taggart reports Georgia’s weekly market watch, outlining and evaluating current economic and business issues. Real GDP grew 3.0% y/y in October 2015 and 2.8% y/y in 10M15 Georgia’s real GDP grew 3.0% y/y in October 2015 (real …

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The Number of Employed in Business Sector is Increased by 9.3%

The number of employed in business sector is increased considerably by 9.3 percent in Georgia. According to  Geosta, as of official declared data, total turnover of enterprises has amounted to 13.9 billion GEL in Q3, 2015, while product throughput – 7.1 billion GEL. These indexes have been respectively 12,075 billion …

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Dimitry Kumsishvili: Georgia’s Business Sector is Expanding

Dimitry Kumsishvili

Georgia’s business sector is growing in a range of directions, generating increased turnover and employing more people with higher salaries. Georgia’s Economy Ministry released information today that revealed 2015 was proving to be a “very successful year” for the business sector in Georgia, with particular gains experienced in the second …

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