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Tag Archives: economy

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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Georgia’s Economic Growth Drops to 1.5% In 2016

In September 2016, from 2.9 percent of the previous month, Georgia’s economic growth decreased to 1.5 percent, as per the National Statistics Service. This is in comparison to September 2015 when economic growth was 2.2 percent. Although, in the previous year, the Georgian government stated the expected economic growth was …

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Current Indicators of the Living Costs are Deceptive

georgia

The standard of living is one of the key indicators of a country’s social and economic development. The exploration and analysis of the living costs is a relevant issue in both developed and developing economies. Currently, according to Geostat, the national statistics service of Georgia reveals that the living costs …

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Meeting of Georgian President and Azerbaijan’s Minister of Economy

With greetings from the President of Azerbaijan, Shahin Mustafayev, Azerbaijan’s Minister of Economy, and Giorgi Margvelashvili, President of Georgia, held a meeting in Tbilisi. Additionally, Azer Huseyn, the Ambassador of Azerbaijan in Georgia, attended the meeting. The meeting discussed the political, economic and defense cooperation between the two countries. Furthermore, …

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Populism is the Enemy of Economy

For a healthy economy only natural disasters are worse than populism, that is hurricanes, inundations, forest fires or grasshopper plague. Yet while the elements are beyond human control, populism is a purely man-made phenomenon. It has several manifestations, each of which has its special repercussions for the country’s economic development. …

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Keti Bochorishvili: Produce in Georgia Program Created more than 100 000 Job Places

Keti Bochorishvili

Deputy Minister of Economy and Sustainable Development Ketevan Bochorishvili has visited LLC Shno workshop, where, besides traditional woodworks, metal works are also manufactured on modern machineries, including, iron doors, door metal frameworks, profiles and other metal works. The company has enlarged output and multiplied assortments, created new job places thanks …

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