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Daily Archives: June 12, 2015

2015 Adjusted Budget Designed for a 2% Growth

2015 adjusted budget submitted by the Ministry of Finance is designed for a 2% annual economic growth and  3% inflation. According to Finance Minister Nodar Khaduri, the budget cuts will not affect social obligations, and will be carried out mainly at the expense of administrative costs. In addition,  the Minister of …

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Georgia’s External Debt Reduces

Georgia’s foreign debt has decreased by $80,705 USD in the past 12 months. Latest monthly data revealed state foreign debt dropped $13,203 from April to May this year. As of May 31, Georgia’s external debt amounted to $4.26 billion. Data published by the National Bank of Georgia (NBG) revealed the country amassed …

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180 Inmates Walk Free After Presidential Pardon

The President of Georgia Giorgi Margvelashvili has pardoned 226 people serving sentences in Georgia’s prisons. At a special press conference today, head of the Presidential Pardon Commission Zviad Koridze said 180 of the 226 pardoned inmates will walk free this afternoon. Among the pardoned prisoners were 14 women and one minor. …

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IMF Offers Recommendations to Stabilise Georgia’s Currency

Reducing Georgia’s dependency on the US dollar and maintaining a floating exchange rate are two recommendations offered by the International Monetary Fund to Georgia. Today IMF Resident Representative in Georgia Azim Sadikov voiced several recommendations to Georgian economic team members and summarised this year’s economic prospects. Sadikov said Georgia was “tightly …

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What Donuts Look like in Georgia and Around the World

A doughnut or donut is a type of fried dough confectionery or dessert food. The doughnut is popular in many countries and prepared in various forms as a sweet snack that can be homemade or purchased in bakeries, supermarkets, food stalls, and franchised specialty outlets. They are usually deep-fried from a flour …

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