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Tag Archives: Economic Growth

The IMF Increased Economic Growth Forecast to Georgia

The IMF Increased Economic Growth Forecast to Georgia

The International Monetary Fund (IMF) sees a positive dynamic in Georgian economy. The Fund increased economic growth forecast of Georgia from 3.5% to 4.5%. Growth is in the predictions of 2018, from 4% to 4.2%, – Mercedes Vera-Martin, head of the International Monetary Fund (IMF) mission declared at the briefing held …

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Georgia’s Economic Growth Totaled 4.9% in 1H17

In the first half of 2017 Georgia’s economic growth marked 4.9% (real GDP). Highest upturn was recorded in development sector (+18.8%) and hotels and restaurants sector (+10.9%). Communications sector ranks third with 8.2%. The lowest growth was registered in electricity, gas and water supply-distribution sector (+0.2%). Agriculture emerged an  only …

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BTK Railway to Contribute to Participating Countries’ Economic Growth

Implementation of the Baku-Tbilisi-Kars (BTK) railway will contribute to the economic growth of the countries participating in the project, Director General of the InfraNews agency Alexei Bezborodov told Trend May 15. The expert noted that the BTK project’s implementation will increase the cross-border trade and local transit. The BTK railway …

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Economic Growth to Record About 4% in 2017

According to the forecast by National Bank of Georgia (NBG), this year economic growth will be about 4%, the NBG monetary policy report for May reads. “Net exports is expected to make an unimportant, but positive contribution to the 2017 GDP growth. After neutralization of external difficulties, net exports is …

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Georgian Economic Growth Accelerates to 5 pct y/y in Q1

Georgia’s economic growth accelerated to 5 percent year-on-year in the first quarter of 2017 from 2.3 percent in the same period a year ago, the National Statistics Service said on Friday, helped by a rise in exports and by remittances from Georgians living abroad. In March alone, growth was 5.3 …

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Giorgi Gakharia: Everything Done To Accelerate Economic Growth

Minister of Economy declares that the government is doing everything to accelerate economic growth and they should shape a watchful approach to any legislative amendment. “We can say, we had a good start this year and moreover, we should be more careful when it comes to the legislative amendments, which …

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Georgia Ranked 64th Place on Global Innovation Index

Georgia Ranked 64th Place on Global Innovation Index

Georgia recently got promoted to a better position in “Global Innovation Index” and is ranked 64th out of 128 countries. Compared to the last year (2015), Georgia meaningfully improved its position from No. 73 to No. 64 in the list. Rating compiled by the World Intellectual Property Organization (WIPO)evaluates countries according to various criteria. …

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The Devaluation Revealed the Strongest Economy of Georgia

The Devaluation Revealed the Strongest Economy of Georgia

The Bank of Georgia (BOG) is forecasting high economic growth in Georgia, achieving 4% in current year, while in 2017-2018, it is predicted to be 8% growth in Georgia’s economy. As the Chairman of the Supervisory Board Irakli Gilauri stated at the business meeting held with Bidzina Ivanishvili, there are two main factors that will contribute to the economic …

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Dimitry Kumsishvili: Economic Growth Can be 3.5%

Dimitry Kumsishvili: Economic Growth Can be 3.5%

Minister of Economy and Sustainable Development of Georgia Dimitry Kumsishvili made a statement that in this year economic growth might be more than 3% and it can reach 3.5%. As Kumsishvili noted to “business contact“, economic growth is supported by increased business activity and business expectations. “Today we see that …

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Business Association: We should Protect Our Business Environment

The Business Association of Georgia (BAG) has released a special statement. Over the past months, the business association of Georgia has been scrupulously supervising the processes that are directed against specific businessmen, specific business fields or specific business and investment projects. Sometimes, these tendencies are of campaign character. “In these …

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Georgian Economic Growth Marked 2.3% in First Quarter

Tbilisi market economic growth

According to the early report of Geostat, the national statistics service of Georgia, the state economy increased by 2.3% in in the first quarter of 2016. As to the month of March, the economic growth rate geared up by 3.4% year on year. In January the economy grew by 0.8%, …

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