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Daily Archives: July 4, 2018

Georgia and Nordic Investment Bank Sign Framework Agreement

Georgia and Nordic Investment Bank (NIB) have signed a framework agreement. The document was signed by Minister of Finance Nikoloz Gagua and NIB President Henrik Norman. The agreement makes emphasis on issues related to NIB activities in the country and will promote cooperation between NIB and Georgia. Objective of NIB …

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Pension Agency to Launch Operation in July

Nikoloz Gagua

Pension Agency is expected to launch operation in July, Minister of Finance Nikoloz Gagua said. In response to the question, whether the retirement agency may be established within determined time-frames, Gagua said that the Agency is to launch operation in July, as part of agreement with International Monetary Fund (IMF). …

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Agency of Protected Areas became Member of European Parks Federation

Minister of Environment Protection and Agriculture Levan Davitashvili attended solemn ceremony held for Agency of Protected Areas becoming member of European Parks Federation. The Vice-President of the Federation of Protected Areas Michael Hosek handed the certificate confirming memnership at the event. Levan Davitashvili addressed the audience and discussed the importance of …

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What to Expect from VAT-Free Dairy Production

New Prime Minister Mamuka Bakhtade has proposed an initiative to exempt natural milk and dairy goods production from VAT payment. When delivering his speech at the parliament as PM candidate, Mamuka Bakhtadze noted that there are asymmetric regulations in agriculture sector that do not foster the sector development. «We propose …

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Geostat Reviews Inflation Rate in Georgia by June 2018

Banking, bank

In June 2018 the monthly inflation rate amounted to -0.6 percent, shares Geostat. Compared to the same month of the previous year the Consumer Price Index change (annual inflation rate) posted a 2.2 percent increase. The monthly inflation rate was mainly influenced by price changes for the following groups: Food …

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Wine Enthusiast Explained why to Pay Attention to Georgian Wine

“Why You Should Be Paying Attention to Georgian Wine” is the title of yesterday’s article in the leading American magazine Wine Enthusiast.  This is how the author Kelly Magyarics starts her explaination: “About the size of West Virginia, Georgia is home to more than 500 grape varieties”. “In 2017, Georgian wine …

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Swiss Stadler reveals time of delivering cars to Azerbaijan for BTK

Stadler to President Cars for BTK Railway in September

Swiss Stadler Rail Group will deliver the first batch of cars to Azerbaijan for the Baku-Tbilisi-Kars (BTK) railway in March 2019, Matthias Stöhr, sales director for Caucasus, Russia, Ukraine at the company told Trend. “The cars are now in the stage of final assembly. One car is already finished and …

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