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The Ski Resort Gudauri is Adding Six New Lifts

The ski resort Gudauri is rebuilding one of its lifts and is installing three new lifts by renowned companies Doppelmayr and Poma. These lifts will increase the skiers uplift capacity by 3.5 times and help in reducing queues. As a result of this, the ski area will be expanded with …

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Electricity Sector of Caucasus – Short Sector Overview

Energy independence for every country is one of the most important challenges for economic, political and security reasons and countries from Caucasus region (Azerbaijan, Armenia and Georgia) are not the exception. According to Geostat, Armstat and stat.gov.az, average demand on electricity in these countries is constantly growing, but electricity consumption …

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Georgia takes 12th Place by Cost of Living among 117 Countries

Among the 117 countries, Georgia is in the 12th place by cost of living. Georgia has 30.14 points in the Numbeo’s portal ranking and it takes place between Algeria and Bangladesh. The cheapest living among the estimated countries is Pakistan, the most expensive in Switzerland. Summary of the data on …

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What Space of Land Plots Government Sold in January-September

In January-September 2018 the state budget revenues from sold land plots made up 6.607 million GEL. According to the Treasury Service of Ministry of Finance, in January-September 2018 the revenues from decline in nonfinancial assets made up 81.865 million GEL, which is 209.9% of the forecast indicator (39 million GEL).  …

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Georgia Improves Position in Global Competitiveness Index

The World Economic Forum has published the 2018 Global Competitiveness Index, under which Georgia ranks 66th among 140 countries, up from the 67th position in 2017. It is noteworthy that in 2017 report Georgia had lost 8 positions. Therefore, the 2018 indicator is lower than the 2016 indicator anyway. Georgia’s …

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Frankfurt Book Fair Opens in Two Days

Frankfurt Book Fair

The world’s largest Book Fair expects 3 per cent more exhibitors, and the guest country is Georgia. Just over a week before the book fair starts, the organizers said on Monday they expect to have 7,000 exhibitors from 105 countries this year, with 9,800 reporters accredited to cover the fair. …

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Regus to Open a New Business Centre in Tbilisi

Regus, the largest provider of service offices, is set to open its second business center in Tbilisi. The opening event is scheduled on 10 October at 71 Vazha-Pshavela Avenue. According to the firm’s regional manager Ruska Chakvetadze, the new business centre on Vazha-Pshavela Avenue stands out for its comfortable location. …

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Which Countries Have Positive Trade Balance with Georgia?

In January-August 2018 Georgia exports made up 2 146 million USD and imports constituted 5 954 million USD. Despite Georgia’s negative trade balance in January-August  and the deficit of 3 808 million GEL, the country has positive trade balance of more than 2 million USD with 10 countries. The reporting period recorded the …

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Economy of Georgia is Open for Investments: OPIC President Ray Washburne

“Economy of Georgia is open for investments” noted Ray Washburne, President of the Overseas Private Investment Corporation (OPIC) at a meeting with Mamuka Bakhtadze, Prime Minister of Georgia during his Working Visit to USA. Head of the Government of Georgia and President of OPIC discussed the pipeline of projects intended …

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Fitch Affirms Georgia at BB-; Outlook Positive

Fitch Ratings has affirmed Georgia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BB-‘. The Outlook is Positive. A full list of rating actions is at the end of this rating action commentary. Georgia’s ratings are supported by governance and business environment indicators that are above the current medians …

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