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Tag Archives: economy

Economic Growth Pace Declines – GDP Growth Shrank by 3.8% in July

According to preliminary estimations, in July 2017, as compared to the same period of 2016, real GDP growth pace made up 3.8%, while in January-July 2017 the averaged real growth constituted 4.4%. It should be noted that this year the Government expects economic growth to mark 4%. «Starting January 2012 …

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Georgia’s Economy Gathers Pace, Grows 4.4 pct in Jan-July

Georgia’s economy expanded 4.4 percent year on year in the first seven months of 2017, data showed on Wednesday, up from 2.7 percent in the same period of 2016 as exports and remittances from abroad rose. Georgia, through which pipelines carry Caspian oil and gas to Europe, is recovering from …

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Georgian Economy Recorded 3.8% Upturn in July

According to preliminary estimations by Geostat, national statistics service of Georgia, in July 2017, as compared to July 2016, Georgian economy grew by 3.8%, while the growth made up 2.9% in July 2016. In January-July 2017 economic growth constituted 4.4%. Government of Georgia forecasts 4% economic upturn in 2017.

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Georgian Products Renaissance Exports Nuts Products to More than 25 Countries

Georgian Products Renaissance has started exports of nuts products to international markets, Ministry of Economy reports. “Backed by Produce in Georgia agency, Georgian Products Renaissance company has started sales of nuts on international markets. The nuts processing company produces a wide range of products and consequently, exports several varieties of …

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Galt & Taggart announces Georgia’s Economic Growth by 4.6%

Real GDP grew 4.6% y/y in June 2017 Georgia’s economy expanded 4.6% y/y in June 2017, after growing 5.3% y/y in previous month, according to GeoStat’s rapid estimates. Overall, in 1H17 GDP growth was 4.5% y/y. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics. Tourist arrivals …

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Georgia’s Economy Gathers Pace, Grows 4.5 pct in Jan-May

Georgia’s economy expanded 4.5 percent in the first five months of this year, official data showed on Tuesday, up from 2.9 percent in the same period in 2016, after a rise in exports and remittances from abroad. In May alone, growth was 5.3 percent, up from 2.1 percent in May …

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Liberty Act Restricting Freedom

Discussions of the constitutional bill is sharpening. Special regard is paid to the issue of sales of land to foreign citizens and article 94 (Liberty Act) that calls for conducting a referendum for introducing a new tax (excluding excise tax) or raising the existing rate, excluding the cases under the …

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Role of the Tourism for Developing Social and Economic Conditions

Tourists in Tbilisi

For any country, one of the most important goals is to increase economy which means to produce more and more high-quality products and services. To say in other words it means higher level of living. Naturally, economic increase is achieved by effective use of the existing resources. Georgia is a …

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Whereabouts of Benefits from Georgia’s Economic Growth

Finance Sector Records Highest Pace of Growth, Agriculture is the Last. According to a preliminary report by Geostat, national statistics service of Georgia, in April 2017 real GDP growth pace made up 2.1%, while averaged real growth in the first quarter of 2017 totaled 5%. Averaged real growth in January …

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Revenues from Tourism Sector Marked 435 million USD in 1Q17

Georgia tourism

In the first quarter if 2017 revenues from tourism sector rose by 23% and totaled 435 million USD, the report by Ministry of Finance reads. In March revenues from the sector went up by 28% and totaled 180 million USD (+39 million USD). We remind you that in March-January, a …

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