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Economy

Finance Minister Discussed New Bank Regulations and Pension Reform

Minister of Finance of Georgia, Ivane Matchavariani paid the visit to the Parliament of Georgia. He discussed new bank regulations, pension reform and other important topics at the hearing of the Budget and Finance Committee.  Minister was asked to come to the Parliament by two factions from parliamentary minority – …

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Georgia’s Top Export Items to EU in January-March

Copper ores and concentrates, motor cars and ferroalloys are Georgia’s top export items in January-March 2019, announces the National Statistics Office of Georgia (Geostat).  More specifically, copper ores and concentrates reclaimed the first place in the list of top export items, equalling $135.6 million, or 16.4% of total exports. The re-export …

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Air Malta to Perform Direct Flights from July 3

According to Interco Travel Group, as a result of their active work, a new member of the Georgian aviation market will be added. From July 3, 2012, Air Malta will perform direct regular flights to Tbilisi. Flights will be performed every Thursday. “Interco Travel Group”, as a commercial representative of …

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Georgia’s National Debt fell by 165 Million GEL in March

In March Georgia’s national debt decreased by GEL 165 million and amounted to GEL 18.5 billion. The foreign debt in dollars fell by $ 59 million, the debt in lari- GEL 173 million. In March the domestic debt increased by GEL 8 million. As of March 31, Georgia’s foreign debt …

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Natia Turnava Appointed As Minister of Economy

Natia Turnava has been appointed as Minister of Economy and Sustainable Development of Georgia.  Prior to that she was the deputy minister of economy since September 2018. Natia Turunava has been working as Deputy Executive Director of “Partnership Fund”. Prior to that, she had been in office for 20 years in …

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4.6% Economic Growth Recorded in February

According to Geostat, the national statistics service of Georgia, in February 2019, compared to the same period of 2018, the pace of GDP growth was at  4.6%. At the same time, according to Geostat, the average real growth in January-February constituted 4.1%. In February 2019, as compared to the same …

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March Records 23% Upturn in Electricity Imports

According to the information by Electricity Market Operator (ESCO), in March 2019, electricity imports to Georgia rose by 23%, as compared to the same period of 2018 and the total imports constituted 208.869 million kw/h. According to ESCO report, the country imported 64.778 million kw/h of electricity from Russia and …

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Minister of Finance Meets with EBRD Vice President

Minister of Finance of Georgia Ivane Machavariani has met with Jürgen Rigterink, the first vice president of European Bank for Reconstruction and Development (EBRD) as part of the annual spring meetings of the IMF and WB Group in the USA. The Parties discussed the EBRD-funded ongoing projects in such directions …

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Price of Carrot and Potato Rise by 12% in Georgia

Potato and carrot prices have increased in many countries of the region, the market report by East Fruit reads. As to Georgia, the country is recording quite negative dynamics of prices. Experts assert that a lack of high-quality products and offseason period provoke a hike in prices. Tariffs rose by …

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