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Economy

TOP 5 EU Countries with Major FDI Contributions to Georgia in 2018

The United Kingdom, Netherlands, Czech Republic, Luxemburg and Germany – these five EU countries with major FDI contributions to Georgia in 2018. According to Geostat, the national statistics service of Georgia, the TOP 5 countries is led by the United Kingdom, from where Georgia attracted 203.7 million USD in 2018, …

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Production of Electric Cars to be Launched in Kutaisi

The electric vehicles factory will be built in Kutaisi, – Prime Minister Mamuka Bakhtadze said  at the presentation of the Aigroup business group. “I am glad to announce that for the first time in our region, electric vehicles production will be launched  in Georgia. Changan, the world’s largest automobile manufacturer, …

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Georgia Launches Electric Car Manufacturing Plant

Manufacturing of electric cars will be launched in Georgia. According to the Head of Government of Georgia, Changan Corporation being the largest electric car manufacturer in the world made a decision to construct its production factory in Georgia. As the Prime Minister of Georgia noted, strategic partners of Changan Corporation …

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Inflation 2018 – Price Growth Dynamics in Georgia and Neighboring Countries

Inflation and Incomes  – Price Growth Dynamics in Georgia and Neighboring Countries. Growing prices and declining purchase value: in this respect, all three South Caucasian republics have recorded almost the same indicators. According to Geostat, the national statistics service of Georgia, the 2018 annual inflation rate in Georgia was at …

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Agreement on Air Traffic between Georgia and Saudi Arabia Signed

Deputy Minister of Economy and Sustainable Development, Akaki Saghirashvili, within the frames of the visit to Saudi Arabia, signed an Agreement on Air Traffic between the Government of Georgia and the Government of  the Kingdom of Saudi Arabia. Akaki Saghirashvili, together with the delegation of the Ministry of Economy and …

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Skills Development Will Be Key to Attracting Investment to High-Value Sectors in Georgia — ADB

Skills development will be essential in leveraging Georgia’s enabling business environment and facilitative infrastructure for higher foreign investment and growth, according to a new Asian Development Bank (ADB) report. In its flagship economic publication, Asian Development Outlook (ADO) 2019, ADB projects Georgia’s gross domestic product (GDP) to grow by 5.0% in …

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Currency Exchange Offices in Georgia had Turnover of 9 Billion GEL in 2018

9,189,600,000 billion GEL entered in the exchange offices of Georgia in 2018. According to the data provided by National Statistics Office of Georgia (Geostat), during this period exchange offices have earned 12,700,000 GEL overall. Data also suggests that 6,700,000 individuals have used this service, which means that the average amount …

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GDP Growth in 2018 Exceeded Initial Forecast

According to preliminary indicators, real growth in GDP in 2018, as compared to 2017, made up 4.7%, while the deflator changed by 3.6%. 2018 GDP volume in current prices constituted 41,077.5 million GEL, up 8.5% year on year. As for specific fields in the total GDP structure, trading and industry …

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Air France Launched Its First Flight in Tbilisi

The first direct flight to Tbilisi by the French national airline, the AIR FRANCE was performed at the Shota Rustaveli Tbilisi International Airport. President Salome Zourabichvili was the First Passenger of the first direct flight, which also brought French tour operators, bloggers and journalists to Tbilisi. A reception ceremony was …

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First Quarter Recorded 100.5% Fulfillment of Budget Revenues

According to the State Treasury, in the first quarter of 2019 (January-March) tax revenues of Georgia’s consolidated budget (state and municipal budgets) constituted 2.6 billion GEL, up 0.5% as compared to the planned indicator of the same quarter. The budget revenues exceeded the plan by 14 million GEL. As compared …

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