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Tag Archives: economy

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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2018 State Budget Allocations for Ministries

Ministry of Finance of Georgia published the 2018 state budget bill, under which total budget expenditures will rise by 949mln GEL as compared to 2017. Major growth in budget funding is provided for Ministry of Regional Development and Infrastructure – 572mln GEL. The funds will be mainly spent on road …

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Georgia’s Economic Competitiveness Shrink

Georgia Loses 8 Positions in Global Competitiveness Index World Economic Forum (WEF) has published the 2017-2018 report for Global Competitiveness Index. The document explores competitive capacity of 137 countries and Georgia ranks 67th among them. According to the 2016-2017 report, Georgia ranked 59th, that is the country has lost 8 …

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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 …

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Georgia’s Economy Gathers Pace, Grows 4.4 pct in Jan-July

Georgia’s economy expanded 4.4 percent year on year in the first seven months of 2017, data showed on Wednesday, up from 2.7 percent in the same period of 2016 as exports and remittances from abroad rose. Georgia, through which pipelines carry Caspian oil and gas to Europe, is recovering from …

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Georgian Economy Recorded 3.8% Upturn in July

According to preliminary estimations by Geostat, national statistics service of Georgia, in July 2017, as compared to July 2016, Georgian economy grew by 3.8%, while the growth made up 2.9% in July 2016. In January-July 2017 economic growth constituted 4.4%. Government of Georgia forecasts 4% economic upturn in 2017.

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Georgian Products Renaissance Exports Nuts Products to More than 25 Countries

Georgian Products Renaissance has started exports of nuts products to international markets, Ministry of Economy reports. “Backed by Produce in Georgia agency, Georgian Products Renaissance company has started sales of nuts on international markets. The nuts processing company produces a wide range of products and consequently, exports several varieties of …

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Galt & Taggart announces Georgia’s Economic Growth by 4.6%

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 …

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