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Government Size to Decline to 4.2% of GDP

The Government size will decline to 4.2% of GDP by the end of 2018, Mamuka Bakhtadze, a nominee for the Prime Minister’s position, told reporters. “The concept of a small government does not imply only a reduction of quantity of Ministries. This concept also determines the small government’s ratio in …

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New Government to Have 11 Ministers Instead of 14

“The number of Ministries will shrink,” the nominee for the Prime Minister’s position told reporters. He also urged the Parliament of Georgia to implement new government approval procedures in the shortest period possible. “In several days the Parliament will approve the new government and its program. A key principle of …

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Government is Considering Development of Batumi Airport with TAV

Government is Considering Development of Batumi Airport with TAV

The government wants to expand Batumi Airport for uninterrupted services of increased passenger flow. The First Vice-Prime Minister confirmed negotiations with the airport manager TAV Holding. “Last year was very profitable for Batumi International Airport. At this stage, the Government works with the Operator Company on the short and long …

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Government Sold 97 949 476 GEL State Properties in 2017

Government Sold 97 949 476 GEL State Properties in 2017

In 2017 Government of Georgia received 97 949 476 GEL revenues from sales of state property. According to National State Property Agency, 1897 electronic auctions were announced in 2017 and the highest bid was recorded for the state property in Tsikhisdziri – 13 650 000 GEL. The new owner plans …

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Essence of Contributory Pension Reforms

Essence of Contributory Pension Reforms

Georgia  to Launch Pension System reformation in 3Q18. Government of Georgia plans to launch contributory pension reform implementation in the third quarter of 2018. Ministry of Economy has already published the corresponding bill. If the system comes into force, the special pension fund will manage the mobilized funds, accrue interest …

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2018 State Budget Allocations for Ministries

Ministry of Finance of Georgia published the 2018 state budget bill, under which total budget expenditures will rise by 949mln GEL as compared to 2017. Major growth in budget funding is provided for Ministry of Regional Development and Infrastructure – 572mln GEL. The funds will be mainly spent on road …

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