Tag Archives: economy

Football has stopped being only a sport. It has become an inseparable part of economy and business, where huge financial resources result in turnover. Today’s football represents a commercial activity, with a focus on bringing profits to the clubs and its stakeholders. In the 1990s, for the purpose of receiving …

An International Monetary Fund (IMF) team, led by Mercedes Vera-Martin, visited Tbilisi during February 20-26, 2019 to discuss recent economic and financial developments and progress with structural reforms. At the end of the visit, Ms. Vera-Martin issued the following statement: “Economic activity, which grew at 4.7 percent, proved resilient in …

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 …

According to the latest indicators, Georgia’s state debts hit 17.539 billion GEL. This signifies obligation per capita in Georgia constitutes about 4700 GEL. If we exclude pensioners, socially vulnerable citizens and underage children, who do not pay taxes, then the liability per taxpayer will be about 9341 GEL, which is …

The past year should be appraised as a positive period for Georgian economy, against the background of problems in previous years. First of all, we should mention an about 5% economic growth, however, more optimistic forecasts were released in the middle of 2018. Namely, International Monetary Fund (IMF) forecast 5,5% …

Minister of Economy and Sustainable Development, George Kobulia introduced the report at the session of the Sector Economy and Economic Policy Committee of the Parliament of Georgia. The Minister talked about the current economic situation in the country, on-going processes, plans and visions. In the presentation, the Minister of Economy …

Natia Turnava has been appointed as deputy Minister of Economy and Sustainable Development of Georgia. Since 2013 Natia Turunava has been working as Deputy Executive Director of “Partnership Fund”. Prior to that, she had been in office for 20 years in private and public sectors; Turnava was also the member of the …

“Historic maximum has been reached in the number of inbound tourists last month,” Mamuka Bakhtadze, Prime Minister of Georgia stated. As noted by the Head of the Government of Georgia, statistical data of the past month once again evidences that Government pursues the right and effective strategy indeed. “I wish …

Experts Forecast GEL to Fall to 2.90 point against USD. According to National Bank of Georgia (NBG), today, the GEL exchange rate against USD is 2.56, while at commercial banks the exchange rate stands at 2.62-2.66 point. On August 13 in the Bloomberg trading systole the GEL exchange rate against …

In July 2018 Georgia’s state debt declined by 67 million GEL. Georgia’s USD-denominated external state debt decreased by 17 million USD. In July, as result of GEL exchange rate appreciation, GEL-denominated external debt decreased by 64 million GEL, while in June the debts declined by 3 million GEL. As of …

The month of June saw a slight slowdown in economic growth pace, compared to May. Namely, in May GDP grew by 7.5% and this is a record figure for Georgia over the past years. According to preliminary report by Geostat, national statistics service of Georgia, in June 2018 real GDP …

According to preliminary estimations by Geostat, national statistics service of Georgia, in May 2018 Georgian economy grew by 7.5% and this is one of the highest figures under the ruling of Georgian Dream. According to Geostat, in January-May the economic growth constituted 6.1%, up 1.6% compared to the government’s forecast …