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Tag Archives: georgia

Korea, Georgia Sign Pact on Economic Cooperation

South Korea and Georgia signed an accord on promoting bilateral economic partnerships in the run-up to talks on an investment agreement. The pact was signed by Korean Vice Foreign Minister Lee Tae-ho, Genadi Arveladze, in Seoul. It paves the way for joint projects in various fields such as trade, tourism, …

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Anaklia City: We do not Consider Georgian Economic Zones as Competitors

In her interview with the Forbes Week with Giorgi Isakadze TV program, Keti Bochorishvili, executive director for Anaklia special economic zone, talked about advantages of Anaklia special economic zone. We consider the world’s leading economic zones as competitors, not Georgia-based economic zones, Bochorishvili noted. “Our objective is to attract international …

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Prices and Georgia’s Karma

Over the past period, the current developments in the Georgian finance sector were being widely discussed in our society. The reasons are not positive – at this stage, everybody talks about tightened regulations that have brought serious negative effects, and the new norms are aim curb the accumulation of unreasonable …

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Fitch Upgrades Georgia to ‘BB’; Outlook Stable For the First Time

Fitch Ratings has upgraded Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BB-‘. The Outlook is Stable. KEY RATING DRIVERS The upgrade of Georgia’s IDRs reflects the following key rating drivers and their relative weights: High The Georgian economy proved resilient to negative developments in 2018. Economic growth …

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Georgia-Hong Kong Free Trade Agreement Becomes Effective

Free Trade Agreement between Georgia and Hong Kong became effective from February 13 this year. Georgia-Hong Kong Free Trade Agreement was signed on June 28, 2018, in Hong Kong within the framework of the One Belt- One Road summit. The purpose of the agreement is to determine the terms of …

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State-owned Companies Hinder Agriculture Sector Development

State-owned companies operating the agriculture sector hinder the field development, Minister of Agriculture and Environment Protection Levan Davitashvili noted. The state sector should not compete with private companies, the Minister pointed out. It is necessary that the Government interfere in the agriculture sector in a right way, Davitashvili noted. “Our …

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Citi Group: Georgia is an Exciting and Reliable Partner

Citigroup, one of the world’s leading financial institutions, praises Georgia as an exciting and reliable partner, Citi’s Vice Chairman Jay Collins told Georgian Prime Minister Mamuka Bakhtadze during their meeting in Davos. The conversation revolved around the development of Georgia’s economy and capital market, along with topics discussed at the …

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How Troublesome is the Size of the State Debt?

According to the latest indicators, Georgia’s state debts hit 17.539 billion GEL. This signifies obligation per capita in Georgia constitutes about 4700 GEL. If we exclude pensioners, socially vulnerable citizens and underage children, who do not pay taxes, then the liability per taxpayer will be about 9341 GEL, which is …

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How Much should Fuel Cost in Reality?

Oil Prices Plunge Worldwide, Georgian Oil Product Importers Gain Colossal Profits. Oil prices are plunging worldwide. Global exchanges have been recording from plummeting oil prices over the past 3 months. In the aforementioned period, prices have declined by 35% on average. In September, the price of one barrel of WTI …

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The Nature of the Georgian Economy in 2018

The past year should be appraised as a positive period for Georgian economy, against the background of problems in previous years. First of all, we should mention an about 5% economic growth, however, more optimistic forecasts were released in the middle of 2018. Namely, International Monetary Fund (IMF) forecast 5,5% …

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Civil Society Organizations Shape Public Administration Reform in Georgia

Sixteen innovative initiatives from 12 leading civil society organizations were on display at a “CSO Fair” organized today by the Government Administration, with support from the United Nations Development Programme (UNDP) and UK Aid, to showcase civic engagement in the ongoing reform of the country’s public administration. CSO proposals focus …

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