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Tag Archives: growth

Medical Tourism Market in Georgia sees 30% Growth

19,500 foreigners arrived in Georgia for medical purposes in the first 9 months of 2018, which is 30% more than in the same period of 2017. According to the head of the Tourism Association Nata Kvachantiradze, people arrive in Georgia for postoperative recovery and not only. “Medical tourism is one …

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9.9% Growth of Electricity Consumption Expected in 2018

Electricity consumption growth rate was revised upwards by 3ppts for 2018. On August 27, 2018 Ministry of Economy and Sustainable Development updated the forecast of electricity (capacity) balance for 2018. Based on this document, forecast for electricity consumption in 2018 was revised upwards to 13.0TWh, which is 9.9% y/y increase …

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Geostat Publishes 2016 GDP Growth Final Indicators

Geostat Publishes 2016 GDP Growth Final Indicators

The 2016 GDP in current prices constituted 34.028bln GEL, up 7.2% year on year. According to the final report of Geostat, national statistics office of Georgia, the real growth made up 2.8% year on year, while the deflator’s percentage changed by 4.2%. In the sectoral structure of GDP the trading …

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ADB Upgrades Economic Growth Outlook for Georgia

Asian Development Bank (ADB) has upgraded economic growth outlook for Georgia. According to the new report, ADB forecasts 4.2% upturn in Georgian economy in 2017 and 4.5% upturn in 2018. The previous forecast was 3.8% and 4.5% respectively. Georgia is recorded in the Central Asia Group, where economy is expected …

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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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Economic Growth Pace Dropped 2.5 times in April

Georgia’s economic growth pace sharply declined in April, as compared to March indicators. However, the January t April indicators are positive, anyway. According to early report by Geostat, national statistics service of Georgia, in April real GDP growth pace made up 2.1%. Averaged real upturn in the first quarter of …

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Georgian Economy Shows Higher than Expected Growth Just in Two Months

Geostat, National Statistics Service of Georgia, has published an early report of February 2017 economic growth. According to the report, year on year growth in Gross Domestic Product (GDP) marked 4.4%, while January-February averaged real growth made up 4.8%. It should be noted that in January GDP upturn marked 5.2%. …

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Economic Growth in January Marked 5.2%

According to preliminary estimations, in January 2017 Georgia’s gross domestic product growth pace made up 5.2%. According to preliminary report by Geostat, national statistics service of Georgia, in the reporting period exports rose by 44.7% and imports increased by 15.4%. Foreign trade turnover increased by 22.1%. Turnover of VAT-payer enterprises …

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June Records Growth in Bank Sector’s Assets

June Records Growth in Bank Sector's Assets

The bank sector’s assets in June rose by 9% month on month and totaled 25.274 billion GEL in January-June 2016. The Georgian bank sector registers 19 commercial banks, including 17 ones with foreign capital co-participation and one – a branch of foreign commercial banks. Two leading commercial banks control 60% …

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