Economy

Government to Co-finance Bank Loan Interests for Existing Small Hotels

The Government will ensure co-financing on bank loan interests for existing small hotels, and the state will serve as the guarantor for the construction of new ones.

Russian Airlines to Bear $47 million Losses from Flight Ban

Russian airlines are expected to bear 47 266 000 USD losses from flight ban with Georgia, the Russian Transport Minister noted.

Olivier Russo Appointed as Head of Investment Board of Pension Agency

The investment board of Pensions Agency has held its first meeting. Olivier Russo has been appointed as a chairman of the Investment Board.

VAT Reform - Changes to the Tax Code

The Ministry of Finance of Georgia published a draft law on amendments to the Tax Code.

Russia’s Ratio in Georgian Economy

Russia’s fierce reaction came after protest rallies broke out in Tbilisi against the speech that Russian parliament member Sergei Gavrilov delivered from the seat.

How Efficient Anti-Dumping Legislation will Work

The Government of Georgia has already approved anti-dumping legislation, and the bill will come into force on January 1, 2020.

Georgia and Serbia Sign Trade-Economic Cooperation Document

Chambers of commerce and industry of Georgia and Serbia have organized the business forum as part of the mentioned commission and Georgian and Serbian businessmen have held tete-a-tete meetings.

Economy Ministry: Railway Station will not Be Built at Kutaisi Airport

A new railway station will not be built for Kutaisi International airport, but the existing one will be rehabilitated, Deputy Economy Minister Akaki Saghirashvili told Channel 1 TV company.

Georgia's Annual Inflation Rate Amounted to 4.3%

In June 2019 the Consumer Price Index decreased by 1.0 percent compared to the previous month, while the annual inflation rate amounted to 4.3 percent.