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Tag Archives: economy

What to Expect from 2018 State Budget

Infrastructure, Education and Healthcare as Priorities of the 2018 State Budget. Total revenues of the 2018 state budget are planned at 12.4 billion GEL, including: tax revenues – 9.490 billion GEL (23.5% of GDP); the remaining part of revenues will be mobilized from other resources. This signifies 23 Tetri from …

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Real Estate on Balance of Ministry of Economy

There are 47 719 agriculture land plots on the balance of Ministry of Economy. Total space of these land plots constitutes 3 791 424 603 square meters, including the major part (16 389) is located in Kvemo Kartli, while the smallest part is registered in Racha-Lechkhumi and Kvemo Svaneti Region. …

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Year of Economic Recovery – Key Economic Events in 2017

Georgian economy

After 2-year low economic growth, in 2017 Georgia’s GDP growth pace exceeded the planned indicator. It should be noted that in 2015-2016, along with currency crisis, economic growth in our country was under 3%. To be precise, GDP upturn in 2015 marked 2.9%, while the figure hit 2.8% in 2016. …

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External Trade of Georgia Rises in Value

Economy Ministry Predicts Export Growth

In January-October 2017 external merchandise trade (excluding non-declared trade) in Georgia amounted to USD 8566.1 million, 12.7 percent higher year-on-year. The exports equaled USD 2203.1 million (29.4 percent higher), while the imports stood at USD 6363.0 million (7.8 percent higher). The negative trade balance was USD 4160.0 million in January-October …

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Georgia’s Economy Grows by 4.7% in January-September Period

According to Geostat, national statistics service of Georgia, in September 2017 real GDP growth pace constituted 5% in September 2017, 4.4% – in the 3rd quarter of 20167 and 4.7% – in January-September 2017. According to Geostat, in September 2017 economic growth was recorded in the following fields: electricity, gas …

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Fruit Processing Plant Opens in Mtskheta

Caucasus Organic Fruits, a new fruits processing plant, has opened in Mtskheta. Total investments in the enterprise made up 1.7mln USD, of which state co-financing marked 250 000 USD, while 500 000 USD is a preferential agro loan. The company produces more than 50 tons of dried fruits of domestic …

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EBRD Evaluates Implemented Projects in Georgia

According to Bruno Balvanera, Regional Director of the European Bank for Reconstruction and Development, the organization’s activity in Georgia and the share of investments is exceptionally large compared to all the countries where EBRD is doing its business. “Our activities include a variety of fields, but I would like to …

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PM: Georgia’s Real Economic Growth will Be Higher than Planned

Georgia is recording the best economic growth indicators and best quality of fiscal management in the Region, Georgian Prime Minister Giorgi Kvirikashvili noted regarding a completion of the first review of International Monetary Fund’s (IMF) mission and stressed positive results of this mission. The Prime Minister noted that Georgia’s fiscal …

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Georgia will Receive IMF’s Second Tranche of 42.3mln USD by the End of 2017

Georgia has attained higher-than-expected economic growth thanks to reasonable policy and rapid upturn in trading partners, International Monetary Fund’s (IMF) report reads. IMF mission in Georgia has finished its two-week visit in Georgia. As a result, the Fund has positively appraised the first review of the ongoing Extended Fund Facility …

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Fitch: Georgian Banks Are Well Positioned to Withstand Pressures

Georgian banks are well placed to absorb potential pressures. Fitch Ratings said at its annual conference on Georgia in Tbilisi today. Sector asset-quality metrics have remained resilient through the credit cycle. Capital buffers are strong and profitability has improved, helped declining risk costs Banks’ asset quality metrics have been solid …

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Georgia, Kazakhstan Plan to Enter EU, Chinese Markets Together

Georgia and Kazakhstan intend to combine their efforts to enter of European Union and China, Georgian Economy and Sustainable Development Minister Giorgi Gakharia said, kyivpost reported. “We discussed how our free regimes could help each other improve the quality of our cooperation to enter such third markets as the European Union …

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