Economy

Ryanair to add 9 New Destinations from the Year 2020

Georgian party and Irish low-budget airline Ryanair formed an Agreement on Cooperation.

Trade Balance Improved as a Result of Continued Growth of Exports

According to the Geostat’s initial estimates exports of goods posted a strong 17.4% YoY growth in USD terms. Increase stood at 22.0 and 37.6% YoY when measured in EUR and GEL, respectively.

Spots for Arranging and Operating Helicopters in Georgia being Selected

On the instruction of the Ministry of Economy and Sustainable Development of Georgia, specialists of the Civil Aviation Agency will study the possibility of arranging helicopters throughout Georgia.

Conti Group Withdraws from Anaklia Development Consortium

Anaklia Development Consortium confirms that American Conti Group has left the project. The information was confirmed by Levan Akhvlediani, executive director for the consortium.

Geostat: Cost of Living of 5-Member Family Makes up 373 GEL

On August 15 Geostat, the national statistics service of Georgia, has updated the official cost of living report, under which in July the cost of living slightly declined and the figure for a five-member family made up 373 GEL.

Number of International Visits in April-June Rose by 13.4%

According to Geostat, the national statistics service of Georgia, the second quarter of 2019 recorded 13.4% upturn in international visits of nonresident travelers (2.2 million) as compared to the same period of 2018.

Bloomberg to promote Georgia's investment potential

Natia Turnava, Minister of Economy and Sustainable Development, met Todd Bauer, an official at Bloomberg Media Group representative in the global markets.

Distribution of City Hall Budget for the Year Revealed

According to the report on the implementation of the Tbilisi budget for 2019, the 6-month plan for budget revenues exceeded 106.3% and amounted to 483 million 98 thousand GEL.

PMC: Georgian Economic Climate has Worsened Rapidly

In the third quarter of 2019, Georgian economic climate has worsened rapidly.