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Tag Archives: economy

Georgia’s Economy Gathers Pace, Grows 4.5 pct in Jan-May

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 …

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Liberty Act Restricting Freedom

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 …

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Role of the Tourism for Developing Social and Economic Conditions

Tourists in Tbilisi

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 …

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Whereabouts of Benefits from Georgia’s Economic Growth

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 …

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Revenues from Tourism Sector Marked 435 million USD in 1Q17

Georgia tourism

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 …

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Georgian Economy Shows Higher than Expected Growth Just in Two Months

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%. …

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Anatomy of Georgia’s Labor Market

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 …

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2017 Budget is Essentially Transformed Fiscal Policy

Kumsishvili: We are Meeting Investors on Restoration of Regional Airdromes

The 2017 state budget, as well as government’s midterm budget plan, is an essentially transformed fiscal policy, Minister of Finance Dimitry Kumsishvili noted at a final briefing of International Monetary Fund mission. He held the briefing jointly with National Bank president Koba Gvenetadze and IMF mission head Mercedes Vera Martin. …

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Economic Growth in January Marked 5.2%

According to preliminary estimations, in January 2017 Georgia’s gross domestic product growth pace made up 5.2%. According to preliminary report by Geostat, national statistics service of Georgia, in the reporting period exports rose by 44.7% and imports increased by 15.4%. Foreign trade turnover increased by 22.1%. Turnover of VAT-payer enterprises …

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Whether GEL Overcomes Crisis

A major part of experts and analysts expected that the GEL exchange rate would depreciate further in January-February 2017, but the situation went in opposite direction  and the Georgian national currency recorded strengthening tendency. As a result, 1 USD equaled to 2.6429 GEL as of February 17,  after seeing the …

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