Economy

GDP Growth at 5.0% in June

According to the initial estimates of GeoStat, the real GDP growth stood at 5.0% YoY in June 2019. The growth averaged 4.9% YoY in the first six months of 2019.

Georgia and Iran Agree on Cargo Transportation Development

Georgia and Iran have achieved agreement on Persian Gulf-North transport corridor development. The information was released by land transport agency of Georgia.

Georgian Railway's Revenue Increased by GEL 32 Million in Six Months

During the 6 months of 2019 Georgian Railway revenues from freight traffic increased significantly.

ADB Approves $415 Million Loan to Improve Georgia's North–South Road Corridor

The Asian Development Bank (ADB) has approved a $415 million loan to Georgia to build a new highway.

EU to Allocate 1.75 million EUR to National Bank of Georgia

EU has launched a new project to strengthen efforts that the National Bank of Georgia will take in the fields of banking and payment services.

Georgian Airways to Join Air Silk Road Development Project

Georgian Airways will engage in implementing Air Silk Road development project. At this stage, we are exploring the project jointly with the Chinese party.

Foreign Investors Show Interest in Mimino Airport Telavi

A foreign investor has expressed interest to launch international flights from Mimino airport, Sergo Tepnadze, principal of Aviation University told BM.Ge

Fiscal Stimulus Moderated in June

Growth of tax revenues accelerated to 13.2% YoY mostly on the back of higher VAT (+17.6% YoY), profit tax (+68.8% YoY) and property tax revenues (+15.7% YoY).

Georgian Railway's Revenue Decreased by 3.3% to $167 Million Last Year

GR’s revenue in 2018 decreased 3.3% y/y to US$ 167.5mn. Significant reduction in freight transportation and logistics service revenues dragged the positive trends in other revenue streams.