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Tag Archives: economy

GEL Exchange Rate Depreciation Hits Historical Maximum in 2016

LARI

In 2016 the national currency depreciation and economic growth rate deceleration were key problems in Georgian economy. GEL exchange rate collapse has affected both state budget and financial condition of our citizens. Despite  GEL exchange rate stability is one of the key factors for ensuing macroeconomic stability of the country, …

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Azerbaijan Weekly Market Watch

Azerbaijan Weekly Market Watch

Galt&Taggart Publishes Report on Main Developments that Took Place in Azerbaijani Economy Last Week: 2017 budget approved by the Parliament Azerbaijan Parliament approved the 2017 budget last week. Consolidated budget revenues are set at AZN 20.0bn (+1.5% compared to the original draft budget document), while expenditures are set at AZN …

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Azerbaijan Weekly Market Watch

Azerbaijan Weekly Market Watch

Galt&Taggart Publishes Report on Main Developments that Took Place in Azerbaijani Economy Last Week: ADB approved two funding channels for Azerbaijan amounting to US$ 1.5bn Asian Development Bank (ADB) will provide US$ 1.0bn in private and public sector assistance to expand Azerbaijan’s Shah Deniz II gas field. The assistance comprises …

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Content Borrowers, Discontent Economy: Government to Carry out Radical Reforms

Last week, at a government meeting, Prime Minister Giorgi Kvirikashvili noted that quick economic growth could not be achieved without radical decisions. He also expressed hopes that the Georgian society would meet new reforms with understanding for attaining economic breakthrough and progress. The reforms are approved by international organizations, the …

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Armenian Economy in Crisis Needs Rapid Change, New Premier Warns

Armenian Economy in Crisis Needs Rapid Change, New Premier Warns

Armenia’s new prime minister has what he believes is a vote-winning message before parliamentary elections in May: The economy’s in terrible shape and he’s the man to fix it. The impoverished ex-Soviet republic needs “profound change,’’ Karen Karapetyan, who took office in September, said in an interview in the capital, …

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Number of International Visitors to Exceed 6 million in 2016

This year number of international visitors will exceed 6 million persons, for the first time, and revenues from tourism sector will hit 2 billion USD, Giorgi Chogovadze, head of national tourism agency, told BusinessContract. Active campaign is underway for winter tourism season, namely, television marketing campaigns proceed in 4 countries. …

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IMF Mission Holds Meetings in Tbilisi

IMF Mission Holds Meetings in Tbilisi

IMF mission, headed by Mercedes Veramartines, launched official meetings in Tbilisi. The mission met Ministers of Economy and Finance on Tuesday. They had discussed Georgian fiscal condition, basic parameters of the budget and talked about the government’s vision on budget deficit. They had focused on budget policy for a mid-term …

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Economic Growth Remains below Initial Plan

Rapid Estimates of Economic Growth April 2016

In September 2016 real GDP growth pace (according to preliminary estimations) made up 1.5%. The figure marked 2.2% in the third quarter of 2016, while January to September growth made up 2.6%. This figure slightly exceeds the IMF forecast, under which Georgia’s economic growth in 2016 was fixed at 2.5%. …

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Georgia Definitely Needs Its Own Stock Exchange

There is an argument that we have a very simple tax code, it is easy to start business…this could be even dangerous”Kakha Chargeishvili declared. He says that two most important factors for economic growth are employment and increase of income. World Bank often suggests that we should implement structural reforms. …

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Monetary Fund 6% Budget deficit predictions is too Conservative

The deputy minister of Economy, Nikoloz Gagua declared that the government does not even consider the 6% deficit. “According to Monetary Fund predictions, rate of the economic growth will exceed 5% rate, which is quite high index. We think that when it comes to planning the budget, we will have more …

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