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Economy

Georgia’s Gross External Debt Exceeds 7.4 Billion USD

The gross external debt of Georgia amounted to 17.8 billion USD (47.5 billion GEL) as of 31th of December 2018. It accounted for 109.6 percent of the last four quarters’ GDP. During the fourth quarter of 2018, the gross external debt of Georgia increased by 533.3 million USD. Out of …

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60 New Kindergartens to Be Built in Georgia

This year alone, the Municipal Development Fund will start building 60 new kindergartens, and we will invest up to 60 million GEL to this end, Georgian Prime Minister Mamuka Bakhtadze stated during the briefing before today’s Government meeting. According to the Head of Government, smaller kindergartens with 50 or fewer …

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Markets and Fairs – A 30-year Problem

Several days ago, the management of Eliava Market,  one of Georgia’s major trading zones, proposed a rehabilitation project which calls for arranging a new infrastructure project, building modern structures and, in general, establishing order in the  territory. At the same time, Tbilisi City Hall noted that, in the near future, …

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First Passenger Train Arrives in Georgia by Baku-Tbilisi-Kars Railway

First passenger train launched by the Baku-Tbilisi-Kars (BTK) railway arrived in Georgia, Trend reports citing Georgian media. The passenger train of the Swiss company Stadler launched by BTK in test mode. The train belongs to “Azerbaijan Railways”. A few days ago the train arrived in Istanbul from Switzerland. From Turkey, the train …

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Batumi Bypass Road Construction Works Underway

The Road Department of Ministry of Regional Development and Infrastructure has been constructing a 14-km section of Batumi bypass road. At this stage, land works, underground crosswalks, bridges and tunnel construction works are being performed. Two-lane reinforcement concrete road will be constructed as part of the project, as well as …

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NATO Secretary General and Prime Minister Discuss Georgia’s Progress Toward Euro-Atlantic Integration

The process of Georgia’s NATO membership and the country’s progress toward Euro-Atlantic integration were discussed by Georgian Prime Minister Mamuka Bakhtadze and NATO Secretary General Jens Stoltenberg at the meeting held today at the Administration of the Government. The conversation emphasized Georgia’s successful implementation of its obligations and effective use …

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Negative Trade Balance Sees a 5 Year Low

CIS Countries Expand Exports Ratio in Georgia’s Foreign Trade Turnover amid Slowdown with EU Countries. In January-February 2019, Georgia’s foreign trade turnover made up 1,739.8 million USD, up 3.6% year on year, including exports, which constituted 505 million USD, up 13.2%, and imports were marked at 1,234.8 million USD, up …

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Finance Expert: We Should not Expect FDI to Grow with Current Management Model

Financier Giga Bedineishvili believes that having the current management model, Georgia should not expect an increase in foreign investment. Bedineishvili speaks about unfavorable investment climate and pouring money in the Georgian economy has become risky for both foreign and Georgian investors. “We should not expect FDI to increase with the management model …

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Giorgi Kobulia: Belarus is Ready To Strengthen Imports of Georgian Production

“Trade and economic relations between Georgia and the Republic of Belarus have been consistently developing over the last few years. From Georgia to Belarus we export such important products as mineral waters, spirits, wine, nuts, non-alcoholic beverages, medicines, etc. Today’s event is another significant measure targeted at facilitating the business …

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