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Tag Archives: economy

IMF: Georgia’s Economic Growth is Projected at 4.6 percent in 2019

An International Monetary Fund (IMF) team, led by Mercedes Vera-Martin, visited Tbilisi during February 20-26, 2019 to discuss recent economic and financial developments and progress with structural reforms. At the end of the visit, Ms. Vera-Martin issued the following statement: “Economic activity, which grew at 4.7 percent, proved resilient in …

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Prices and Georgia’s Karma

Over the past period, the current developments in the Georgian finance sector were being widely discussed in our society. The reasons are not positive – at this stage, everybody talks about tightened regulations that have brought serious negative effects, and the new norms are aim curb the accumulation of unreasonable …

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How Troublesome is the Size of the State Debt?

According to the latest indicators, Georgia’s state debts hit 17.539 billion GEL. This signifies obligation per capita in Georgia constitutes about 4700 GEL. If we exclude pensioners, socially vulnerable citizens and underage children, who do not pay taxes, then the liability per taxpayer will be about 9341 GEL, which is …

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The Nature of the Georgian Economy in 2018

The past year should be appraised as a positive period for Georgian economy, against the background of problems in previous years. First of all, we should mention an about 5% economic growth, however, more optimistic forecasts were released in the middle of 2018. Namely, International Monetary Fund (IMF) forecast 5,5% …

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Natia Turnava Appointed As Deputy Minister of Economy

Natia Turnava

Natia Turnava has been appointed as deputy Minister of Economy and Sustainable Development of Georgia. Since 2013 Natia Turunava has been working as Deputy Executive Director of “Partnership Fund”. Prior to that, she had been in office for 20 years in private and public sectors; Turnava was also the member of the …

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Georgia Reaches Historic Maximum in the Number of Inbound Tourists

“Historic maximum has been reached in the number of inbound tourists last month,” Mamuka Bakhtadze, Prime Minister of Georgia stated. As noted by the Head of the Government of Georgia, statistical data of the past month once again evidences that Government pursues the right and effective strategy indeed. “I wish …

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Georgian Currency Seeking Point of Balance

Experts Forecast GEL to Fall to 2.90 point against USD. According to National Bank of Georgia (NBG), today, the GEL exchange rate against USD is 2.56, while at commercial banks the exchange rate stands at 2.62-2.66 point. On August 13 in the Bloomberg trading systole the GEL exchange rate against …

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State Debt Declines by 67 million GEL

In July 2018 Georgia’s state debt declined by 67 million GEL. Georgia’s USD-denominated external state debt decreased by 17 million USD. In July, as result of GEL exchange rate appreciation, GEL-denominated external debt decreased by 64 million GEL, while in June the debts declined by 3 million GEL. As of …

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Georgian Economy Saw 7.5% Growth in May

According to preliminary estimations by Geostat, national statistics service of Georgia, in May 2018 Georgian economy grew by 7.5% and this is one of the highest figures under the ruling of Georgian Dream. According to Geostat, in January-May the economic growth constituted 6.1%, up 1.6% compared to the government’s forecast …

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