Economy

Electricity Imports in February Consumption Rose to 61%

In February 2021, the balancing electricity imports value totaled GEL 35.5 million. According to the Electricity System Commercial Operator (ESCO), in February, the balance electricity imports constituted 227,159,981.3kw/h, that is, 21% in total supply.

Andria Gvidiani: Competitive Tariffs Make Azerbaijani Electricity Imports More Favorable

In January-February 2021, Georgia’s electricity imports have extremely grown and exceeded 700 million kw/h, after rehabilitation works were underway at Enguri HPP. Azerbaijan and Russia remain as key electricity suppliers.

Georgia joins European Migration Network as Observer

In March 2021, Georgia joined the European Migration Network as observer. The working arrangement represents an important step towards reinforced cooperation in the areas of migration and asylum.

"Produce for Consumers, Package for the Earth" ideathon Commences the Search for Ideas that Improve Packaging and Reduce Plastic and Other Disposable Waste

The USAID Economic Security Program, in partnership with Georgia’s Innovation and Technology Agency and the United Nations Development Program (UNDP), launched the ideathon on "Produce for Consumers, Package for the Earth".

Foreign Direct Investment Inflows Essentially Decline in 2020

According to the 2020 early report, foreign direct investments in Georgia made up $616.9 million, down 52.9% as compared to the 2019 final indicators.

Economy Minister: Namakhvani HPP Investor will Pay Property Tax of $120 Million

“It is fraudulent information as if the company has been exempted from property tax. The company will pay property tax of $120 million”, Economy Minister Natia Turnava noted when delivering her speech at the parliament’s committee hearing.

Andria Gvidiani: Electricity Imports from Azerbaijan is Cheaper than from Russia

The price of any product or service is regulated by the market. Therefore, we should import electricity from cheaper sources, economic analyst Andria Gvidiani said.

Changes Take Place in TBC Bank’s TOP Stakeholders Structure

TBC Bank finished the year 2020 with changes in the structure of major stakeholders.

AFBA: Information Published by ESCO Regarding Imported Electricity Tariffs does Not Reflect the Real Picture

Young financiers cite the example of February, when, according to ESCO, Georgia imported 258.85 million kilowatt hours of electricity from Russia.