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Economy

Another Large Hydroelectric Power Plant to be Built in Georgia

Georgia’s Ministry of Economy has completed negotiations on the construction of another giant hydroelectric power station Namakhvani HPP, Deputy Minister of Economy Natia Turnava says. According to the Deputy Minister, the text of the agreement is already being considered by the government, after which the document will be signed and …

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Exports to EU Declined by 10% in January-February, Rose by 45.7% with CIS

According to Geostat, the national statistics service of Georgia, in January-February 2019, Georgia’s exports to EU declined by 10.7% and totaled about 118 million USD. At the same time, the imports with EU also decreased by 4.5% and totaled 304.2 million USD. Unlike European Union, in January-February 2019, Georgia’s exports …

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Foreign Direct Investment See 5 Years’ Bottom

According to preliminary indicators, foreign direct investments (FDI) in 2018 was listed at 1,232.4 million USD, down 34.9% year on year. The contraction in FDI is related to completion regarding gas pipeline construction. Moreover, several companies were moved their ownership to Georgian residents, and loan liabilities were paid off to …

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Average Salary for Men is 1468 GEL, for Women – 906 GEL

According to Geostat, the national statistics service of Georgia, according to the fourth quarter of 2018, average salaries in Georgia made up 1202 GEL, up 61 GEL year on year. At the same time, average salaries for men makes up 1468 GEL and for women – 906 GEL, down 38% …

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Rehabilitation Project of Dry Bridge Area Begins

The rehabilitation works of Dry and Saarbrücken Bridges, March 9 and Deda Ena Park begins in Tbilisi. The rehabilitation works will be implemented within the framework of the project “New Tiflis” aimed at creating a large tourist route in the historic part of the city, connecting old and new rehabilitated zones, …

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Georgia and Tajikistan Signed Agreement on International Road Transport

“Tajikistan is interested in the development of the trade and economic relations with Georgia and the development of the transport links in different directions are of utmost importance in this regard,” – representatives of the Ministry of the Transport of the Republic of Tajikistan stated at the meeting with the …

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The Volume of Pension Fund Reached 100 Million GEL

The volume of pension fund reached 100 million Georgian Lari. First Channel was informed about the amount by the pension agency. Part of the funds are currently on deposits of commercial banks, while part of them on National Bank account. In the case of the National Bank, the annual interest …

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Georgia to Open Embassies in UAE and Vietnam

Georgian Prime Minister Mamuka Bakhtadze said Tbilisi plans to open its embassies in the United Arab Emirates and Vietnam in the course of 2019.  Announcing the move, PM Bakhtadze said the decision was taken with view to enhancing economic cooperation with “rapidly-growing economies of the Gulf and Asia.” “Georgia’s more …

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