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Georgia Loses Leading Regional Position in terms of Economic Growth Pace

Armenia’s GDP Grows Twice Faster in 2018. Over the past 3-4 years, especially in 2017, government officials in Georgia frequently reiterate that despite low economic growth Georgia is a regional leader in terms of economic growth paces. Regretfully, the reality is different. According to Geostat, national statistics service of Georgia, …

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Introduction of GMP and GDP Standards in the Pharmaceutical Market Begins

 Pharmaceutical companies will have to maintain European standards within the next few years. The Ministry of Health begins to implement GMP (Good Production Practice) and GDP (Good Distribution Practice) Standard to ensure quality of medicines produced and imported in the country. Additionally, the inspection of pharmaceutical enterprises and distribution networks …

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Reuters: Georgia May Hike 2018 Growth Forecast, Plans Eurobond Refinancing

Georgia may increase its gross domestic product (GDP) growth forecast for this year, currently at 4.5 percent, as rising exports and inflows of foreign investment help support the economy, the country’s finance minister told Reuters. Georgia is recovering from a decline in exports and steep devaluations in the currencies of …

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Traffic Accident Fines Account for 5% in GDP

According to World Bank (WB), expenses after injuries and fatal outcomes of traffic accidents (lost revenues, medical, administrative and damaged property) made up about 5% in GDP in 2015 (738 million USD). “Traffic accidents bring extremely negative effect to state economy. It is possible to free resources for their productive …

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Geostat Publishes 2016 GDP Growth Final Indicators

Geostat Publishes 2016 GDP Growth Final Indicators

The 2016 GDP in current prices constituted 34.028bln GEL, up 7.2% year on year. According to the final report of Geostat, national statistics office of Georgia, the real growth made up 2.8% year on year, while the deflator’s percentage changed by 4.2%. In the sectoral structure of GDP the trading …

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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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Internal Debt – More Expensive than External Debt

State Budget Pays 0.5 bln GEL to commercial banks for Serving debts. Georgia’s state debts account for 13.8bln GEL as of May 2017, including external debts total 11.2 bln GEL, while internal debts account for 2.5bln GEL. It is worth noting that over the past years  state debts comply with …

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The WB: GEL Exchange Rate is not the Main Task

The WB: GEL Exchange Rate is not the Main Task

GEL exchange rate is not the main task, – the World Bank’s regional director for Europe and Central Asia Hans Timmer says. He declares, that stabile exchange rate is not always a sign of success. External shocks are frequent and flexible exchange rate of GEL is more effective. Timmer notes, …

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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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Georgian Economy: Increased By 2.7% in Seven Months

economy

According to preliminary data, the estimated real Gross Domestic Product (GDP) growth rate amounted to 2.1 percent y-o-y in July 2016. The estimated real GDP growth in Q2 2016 equaled 3.1 percent y-o-y. The estimated real GDP growth for the first seven months of 2016 reached percent 2.7 y-o-y. Geostat …

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Georgia Ranks 4th Per GDP At Rio Olympics

Rio olympics

The Rio Olympics has been dominated by the United States, Great Britain and China, which between them claimed 99 golds and a total of 258 medals  throughout the Games. The United States finished the Olympics at the top of the medal table, with Great Britain beating China for second place. But what happens …

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