Economy

Five Chinese Companies Bid for Building 575-Million-GEL Highway in Kakheti Region

The Road Department of the Ministry of Regional Development and Infrastructure has announced two tenders for building the Tbilisi-Sagarejo highway. The project comprises 3 lots and their total length is 35.2 kilometers.

Economy Minister: We Contracted Feasibility Studies of $277 million for Building 46 Energy Facilities

"We have contracted feasibility studies worth $277 million for building 46 hydropower plants, Georgian Economy Minister Natia Turnava noted when congratulating the Georgian energy sector professionals on the Energy Sector Day.

Government to Reform Partnership Fund into Development Fund of Georgia

The Partnership Fund will be transformed into the Development Fund of Georgia and the new organization will be financed from the state budget.

Adjara’s Agro Service Center Set out for Auction at GEL 13.8 Million

Adjara’s Agro Service Center has been put out for auction. The starting price of the 100% stake is GEL 13.8 million.

Negotiations Underway with TAP Air to Launch Direct Flights to Portugal

The Government of Georgia plans to launch direct flights to Portugal. Negotiations are underway with Portuguese national air company TAP Air Portugal.

Products that Georgia Buys and Sells in Armenia

Armenia remains Georgia’s one of biggest trade partners. In January-July 2021, the Georgia-Armenia trade turnover amounted to $398 million. As a result, Armenia ranked 7th among Georgia’s top 7 trade partners.

Georgia’s Currency Reserves Hit $4.117 Billion

Georgia has substantially increased its international currency reserves after the International Monetary Fund (IMF) allocated reserve assets to the country.

Galt & Taggart Expects Inflation Rate to Hit 14% in December

Galt & Taggart forecast that the inflation rate will further grow. As noted by Galt & Taggart economist Lasha Kavtaradze, in December 2021, the inflation rate will hit 14%.

Israeli Airlines to Resume Flights to Tbilisi and Batumi

In September Israeli Airlines will resume flights to Tbilisi and Batumi International Airports.