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Government Prepares Special Presentation for EBRD’s Annual Meeting

Government Prepares Special Presentation for EBRD’s Annual Meeting

Georgian government prepares presentation of investment opportunities for EBRD’s annual meeting, which will be held in Cyprus in May, 2017. Finance Minister Dimitri Kumsishvili has declared about that at the meeting held with Bruno Balvaner, Regional Director of EBRD. According to Bruno Balvaner, merely several countries will be given presentation …

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Opinion: A Guide to the Seven sins of Overreaching Government

Opinion-A-Guide-to-the-Seven-sins-of-Overreaching-Government

Even banal things can benefit from regulation, but regulators do sometimes make basic conceptual errors There are many good reasons to have regulations. They create the standards and rules that govern a marketplace, give consumers confidence, keep rogue traders at bay and make sure things that should fit together — …

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Former PM of Georgia Published a Book on Economic Reforms

Former-PM-of-Georgia-Published-a-Book-on-Economic-Reforms

Founder and managing partner of Reformatics and former Prime Minister of Georgia, Mr. Nika Gilauri, published a book Practical Economics: Economic Transformation and Government Reform in Georgia 2004-2012. The book describes the experience which has basically transformed state management system of Georgia. “Why has been the book written? I have …

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At Full Speed to Recession

At Full Speed to Recession

In December 2016 Economic Growth Rate Saw 0.3% Historical Bottom According to preliminary estimations, in December 2016, as compared to the same period of 2015, GDP real growth pace made up 0.3%. As to the 4th quarter of 2016, GDP growth rate marked 1.2%, Geostat, the national statistics service of …

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KAMPA Asks Government to Free Georgian Entrepreneurs from Imports Tax

KAMPA Asks Government to Free Georgian Entrepreneurs from Imports Tax

Aleksandre Buadze, director general of KAMPA company, has applied to Government of Georgia to exempt Georgian entrepreneurs from imports tax. Products imported from the CIS countries are not taxed by 12%, while entrepreneurs have to pay the tax in all other cases, the company director general Aleksandre Buadze noted. “Regretfully, …

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Fees Will be Increased to Gambling Business from January 1

Fees Will be Increased to Gambling Business from January 1

Fees will be increased to gambling business from January 1. The government based on the analysis of previous years’ revenues, forecasts budgetary increase by 20 million for local governance units. The fee will be set from 20 000 GEL to 40 000 GEL in quarter for each casino table by …

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Gakharia: Our Economy has Some Structural Problems

Gakharia: our Economy has Some Structural Problems

Minister of Economy explains main reasons of GEL depreciation afresh and does not agree with the critics that the government blames merely the external factors. George Gakharia noted with TV-company Imedi, that the economy has some structural problems and focused attention on their solving activities. “We understand very well the …

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The World Bank Announces on Continuation of Georgia’s Support

The World Bank Announces on Continuation of Georgia’s Support

Dimitri Kumsishvili has introduced the Vice-President of World Bank 4-point plan of the government and basic direction of 2017 budget. Minister of Finance and Cyril Muller have discussed cooperation priorities of Georgia and the World Bank at the meeting. Dimitri Kumsishvili noted, that 2017 state budget totally serves to the …

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How the Banker Evaluates Announced Amendments by the Government

How the Banker Evaluates Announced Amendments by the Government

Banking sector approves government’s step in terms of to insure currency risks. Archil Kontselidze, CEO of VTB Bank declares, that fulfillment of this initiative will be a success. The banker does not expect loans in GEL to be increased in price. In addition, Archil Kontselidze notes, that obligation do not …

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