Tag Archives: Mamuka Bakhtadze

Minister of Finance Mamuka Bakhtadze said that a limited access to capital is one of the primary problems of Georgia. Diversification of the economy is of crucial importance for the promotion of the business sector and economic development. The Minister assured that amid these challenges more entrepreneurs will have the …

Georgia may increase its gross domestic product (GDP) growth forecast for this year, currently at 4.5 percent, as rising exports and inflows of foreign investment help support the economy, the country’s finance minister told Reuters. Georgia is recovering from a decline in exports and steep devaluations in the currencies of …

A total of 180 entrepreneurs have got back surplus VAT under the simplified system, Minister of Finance Mamuka Bakhtadze noted in his live address on Facebook. This is fourfold more amount than in 20167, he said. “To implement the mentioned reform in 2017, we created important buffers. We want that …

New tax preferences for small business sector will come into force on July 1. The government’s initiative calls for cutting the turnover tax for small business  5 times. As a result, companies with 500 000 GEL turnover will move to the category of small business. This initiative announced by Prime …

Minister of Finance of Georgia Mamuka Bakhtadze met with the Chief Economist of World Bank in Europe and Central Asia region Hans Timmer. At the meeting, the development of innovative technologies in the public sector was discussed. According to the Press office of the Ministry of Finance, the reason for …

Finance Minister names a new initiative for promoting automobile market. “The excise paid on the re-export of cars will be completely returned to the business”, – Mamuka Bakhtadze said after the government session. According to him, if re-export of vehicles will be made within 90 days after the import, 100% …

Minster of Finance Mamuka Bakhtadze has met with EBRD President Suma Chakrabarti as part of his visit to Great Britain. The parties positively appraised EBRD’s performance in Georgia and discussed the ongoing and planned projects. The parties made emphasis on such priorities as: development of municipal infrastructure, the banking sector, …

On January 5 Government of Georgia and European Bank for Reconstruction and Development (EBRD) have signed an agreement for financing Enguri HPP Rehabilitation Project – Sustainable Development for Climate Conditions. The document was signed by Minster of Finance Mamuka Bakhtadze and EBRD regional director in the Caucasus, Moldova and Belarus …

Bureaucratic expenditures will be cut by 25% for the next 3 years, Minister of Finance Mamuka Bakhtadze noted. As a result, Government’s savings will be enlarged to 6.5% in GDP by 2012, up from 2.6% of 2016. “If we discuss government positions, we should analyze the current achievements in this …

Minister of Finance Mamuka Bakhtadze emphesized the revenue received from tourism during his presentation of the 2018 state budget. In recent years, tourism has become one of the most important driving force in the Georgian economy and has become the key component of the current account expenditure, the revenues from …

Under the decree of the Government of Georgia signed by Prime Minister Giorgi Kvirikashvili, Mamuka Bakhtadze was appointed as the Special Representative of Georgia for the “New Silk Road” initiative. The relevant amendments were made to the Government of Georgia on 7 March 2016, where the above mentioned authority was …

‘Georgia has established its place in the conception named modern Silk Road’ says the Minister of Finance of Georgia, Mamuka Bakhtadze. ‘More than 2000 delegates are involved in today’s forum. This is unique. Every serious company of East-West hub takes part in the forum. I think it will allow us …