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Economy

Georgia’s National Debt fell by 165 Million GEL in March

In March Georgia’s national debt decreased by GEL 165 million and amounted to GEL 18.5 billion. The foreign debt in dollars fell by $ 59 million, the debt in lari- GEL 173 million. In March the domestic debt increased by GEL 8 million. As of March 31, Georgia’s foreign debt …

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Natia Turnava Appointed As Minister of Economy

Natia Turnava has been appointed as Minister of Economy and Sustainable Development of Georgia.  Prior to that she was the deputy minister of economy since September 2018. Natia Turunava has been working as Deputy Executive Director of “Partnership Fund”. Prior to that, she had been in office for 20 years in …

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4.6% Economic Growth Recorded in February

According to Geostat, the national statistics service of Georgia, in February 2019, compared to the same period of 2018, the pace of GDP growth was at  4.6%. At the same time, according to Geostat, the average real growth in January-February constituted 4.1%. In February 2019, as compared to the same …

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March Records 23% Upturn in Electricity Imports

According to the information by Electricity Market Operator (ESCO), in March 2019, electricity imports to Georgia rose by 23%, as compared to the same period of 2018 and the total imports constituted 208.869 million kw/h. According to ESCO report, the country imported 64.778 million kw/h of electricity from Russia and …

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Minister of Finance Meets with EBRD Vice President

Minister of Finance of Georgia Ivane Machavariani has met with Jürgen Rigterink, the first vice president of European Bank for Reconstruction and Development (EBRD) as part of the annual spring meetings of the IMF and WB Group in the USA. The Parties discussed the EBRD-funded ongoing projects in such directions …

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Price of Carrot and Potato Rise by 12% in Georgia

Potato and carrot prices have increased in many countries of the region, the market report by East Fruit reads. As to Georgia, the country is recording quite negative dynamics of prices. Experts assert that a lack of high-quality products and offseason period provoke a hike in prices. Tariffs rose by …

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Money Transfers to Georgia Constituted 138 million USD in March

Money transfers to Georgia in March 2019 made up 138.4 million USD (371.4 million GEL), up 4.5% (+5.9 million USD), as compared to the same period of 2018. According to the official indicators of the National Bank of Georgia (NBG), Russia ranks first in terms of money transfers to Georgia …

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Role of Fisheries in Economic Development Discussed at Conference in Batumi

Representatives of the fishing industry gathered in the Georgian capital of Batumi for a conference entitled “Fisheries for the Economic Development of the Country”. The participants included representatives from governmental and non-governmental organisations from Georgia, Ukraine, Turkey, Norway, Azerbaijan and Armenia. Prior to the conference, participants visited fish farms in Keda …

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Eighteen Wind Power Plant Projects Submitted to Ministry of Economy

Government of Georgia has signed 18 wind power plant construction projects with various investors, the statement released by Ministry of Economy and Sustainable Development of Georgia reads. Total installed generation of all projects makes up 1200 megawatts. Expected generation will be 4654 million kw/h and total investments will make up …

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