Tag Archives: economy

Real GDP grew 4.6% y/y in June 2017 Georgia’s economy expanded 4.6% y/y in June 2017, after growing 5.3% y/y in previous month, according to GeoStat’s rapid estimates. Overall, in 1H17 GDP growth was 4.5% y/y. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics. Tourist arrivals …

Georgia’s economy expanded 4.5 percent in the first five months of this year, official data showed on Tuesday, up from 2.9 percent in the same period in 2016, after a rise in exports and remittances from abroad. In May alone, growth was 5.3 percent, up from 2.1 percent in May …

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 …

For any country, one of the most important goals is to increase economy which means to produce more and more high-quality products and services. To say in other words it means higher level of living. Naturally, economic increase is achieved by effective use of the existing resources. Georgia is a …

Finance Sector Records Highest Pace of Growth, Agriculture is the Last. According to a preliminary report by Geostat, national statistics service of Georgia, in April 2017 real GDP growth pace made up 2.1%, while averaged real growth in the first quarter of 2017 totaled 5%. Averaged real growth in January …

In the first quarter if 2017 revenues from tourism sector rose by 23% and totaled 435 million USD, the report by Ministry of Finance reads. In March revenues from the sector went up by 28% and totaled 180 million USD (+39 million USD). We remind you that in March-January, a …

Mountain resorts must be an important part of our country’s tourism branding, – Minister of Economy regards. George Gakharia noted on the importance of holding the 3rd International Conference of Mountain Resorts of Europe and Asia and said that “the conference is very favorable to promote our country once again”. …

Geostat, National Statistics Service of Georgia, has published an early report of February 2017 economic growth. According to the report, year on year growth in Gross Domestic Product (GDP) marked 4.4%, while January-February averaged real growth made up 4.8%. It should be noted that in January GDP upturn marked 5.2%. …

Economists always discuss various statistics to appraise economic state of a country. Besides gross domestic product (GDP) level, the unemployment level  is one of the statistical indicators that draws attention of economists and society. Unemployment is a heavy burden on Georgian population and it leads to economic, psychological and social …

In February 2017 the inflation level in Georgia constituted 1.7% as compared to January 2017 and 5.5% as compared to February 2016. Prices are growing and this tendency was foreseeable after Government’s decision to increase taxes at the beginning of 2017. It should be noted that this year the NBG …