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.
Georgian Railway to Refinance Eurobonds of USD 500 million Prematurely
Georgian Railway is expected to refinance Eurobonds of USD 500 million prematurely. According to Standard and Poor’s, the company management has already launched negotiations with the investors and partner banks.
Giorgi Khanishvili: Government Spends GEL 2.5 million on Designing Imereti AgroZone Project
Imereti AgroZone has announced an interest expression for participating in the greenhouse cluster development project.
EIB immediate Covid-19 Response Support to the Georgian MSME Sector Reaches Milestone with Additional Support to Liberty Bank
The EU bank will extend Covid-measures to the existing credit line at the Liberty Bank for a total of €17.5 million, including a €2.5 million multi-currency top-up.
January Sees 11.5% Downturn in Georgian Economy
According to Geostat, the national statistics service of Georgia, in January 2021, the Georgian economy declined by 11.5%.