Economy

According to Geostat, in IV quarter 2018 year the unemployment rate increased by 0.1 percentage point compared to the previous quarter and equaled 12.3 percent. In 2018 the annual unemployment rate decreased by 1.2 percentage points compared to 2017 and amounted to 12.7 percent. It should be noted that the …

Maia Tskitishvli, Vice Prime Minister of Georgia and Minister of Infrastructure, and the Deputy Infrastructure Ministers have met with Vazil Hudak, vice president of European Investment Bank and other representatives of the Bank. As part of two agreements under Transport Communication Project of Georgia, EIB has already allocated 500 million …

Minister of Economy and Sustainable Development George Kobulia held a meeting with the Vice-President of the European Investment Bank, Vazil Hudák and the accompanying delegation. Deputy Ministers of Economy and Sustainable Development Natia Turnava and Ekaterine Mikabadze also attended the meeting. Investment portfolio of the European Investment Bank in Georgia …

Several days ago, government offices published statistical indicators, that, at a glance, seem encouraging. Namely, despite negative forecasts and swine flu, in January 2019, the tourist inflow to Georgia rose by 18% year on year. Moreover, it is reported that agriculture product exports have grown, and  exports totaled 935 million …

The country has met the process of pension system reformation unprepared, Zurab Lalazashvili, a managing partner for BDO, noted. The pension agency must be staffed with qualified specialists to successfully implement the reforms, he said. Our people should make sure that their savings will be managed reasonably, they will receive …

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 …

Average monthly salary of 46% of employees in Georgia is below 400 GEL, while 1% of Georgian citizens receive more than 8 333 GEL salary a month. According to the digital information system of Revenue Service of Georgia, salary declarations were filled out for 1 222 153 physical bodies in …

Georgia and Ukraine have agreed to provide their citizens the opportunity to travel between the two countries without a passport, only using ID-cards that contain a contactless electronic carrier. The agreement will be effective from March 1, 2019.  “Agreement concluded on travel solely with Personal ID Cards between Georgia and …

The mentioned information was released at the business forum in Poland. The Doing Business in Georgia forum was held in the city of Poznan on February 12. The event was organized by Foreign Ministry of Georgia, Georgian Embassy in Poland and the Vielkopolska Region Development Fund.  Tornike Sulaberidze, deputy director …

Three companies are interested in acquisition of Post of Georgia, the company director general Levan Chikvaidze told BM.Ge. The value of Georgian Post will be specified by the audit, Chikvaidze said. “there are several interested auditors. There are bodies interested in making investments in various separate directions. Therefore, according to …

According to GALT & TAGGART’s prediction, Georgia’s income from tourism will amount to $ 3.6 billion in 2019. Head of GALT & TAGGART Research Department Eva Bochorishvili stated about it during his “business morning”. “GALT & TAGGART estimates the number of tourists in Georgia will be around 5,3 million this …

Georgia ranked the 8th in the world by the revenue growth per capital within the last 20 years (1998 – 2018) but despite this, Georgia is still a low-income country. Both circumstances are interesting, the 1st – how we turned out on the 8th place and the 2nd – if the country is one …