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Tag Archives: Nodar Khaduri

Government to Present Power Subsidies Plan in the Nearest Future

The government will present the power subsidies plan in the nearest future. According to the governmental administration, the Prime Minister and his economic team discussed the subsidy plan at a meeting yesterday evening.  The meeting was attended by Energy Minister and Vice-Prime Minister Kakha Kaladze, Minister of Economy and Sustainable …

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Delay of Soft Drinks Labeling Encourages Business

The founder of the company Coca-Cola Bottlers Georgia Temur Chkonia hails  the Prime Minister’s decision about the postponement of the introduction of labeling  for alcoholic beverages. According to him, the Prime Minister took time out, and if he looks into the matter in more detail, it is likely this decision …

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Georgian Prime Minister Instructed Finance Minister to Postpone Mandatory Labeling of Non-alcoholic Beverages

Prime Minister of Georgia Irakli Garibashvili instructs Finance Minister Nodar Khaduri to postpone compulsory labeling   of non- alcoholic beverages. “Manufacturers of alcoholic beverages have asked the Prime Minister of Georgia Irakli Garibashvili to defer the mandatory labeling of the products. Ministry of Finance prepared a draft, according to which the …

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Government’s New Regulation for Business

Amid belt-tightening,  the Georgian government is increasing  spending not for  social projects   but for the  introduction of  a new regulation for  business, namely  electronic marking system for  non-alcoholic beverages. The authorities want this obligation, the business has been struggling  with for almost 5 years, to come into effect  in the …

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Georgian government proposes USD 60 million budget cuts

Finance MInister nodar_khaduri

The government in Georgia plans 140 million of budget cuts, about USD 60 million with today’s currency rate. The finance minister on Monday presented an adjusted budget to the cabinet of ministers. He said that the state budget, which is eight billion laris (about USD 3,5 billion) will be reduced …

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Georgia Reduces State Budget Expenditures by 140m GEL

Georgia’s state budget will be reduced by about 140 million GEL to overcome the ongoing currency crisis and to cover the cost of the June 13 deadly flood damage, which is believed to exceed 100 million GEL. Georgia’s Finance Minister presented an amended draft budget noting these changes at today’s …

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Government not to Submit a Draft Budget to Parliament

GEL 100 000 000 will not be enough to  eliminate the consequences of the flood in Tbilisi , – the Minister of Finance says. According to him, the government should allocate tens of millions of the lari for the Tbilisi  zoo. “As of  yesterday evening data, about GEL 17 million are …

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2015 Adjusted Budget Designed for a 2% Growth

2015 adjusted budget submitted by the Ministry of Finance is designed for a 2% annual economic growth and  3% inflation. According to Finance Minister Nodar Khaduri, the budget cuts will not affect social obligations, and will be carried out mainly at the expense of administrative costs. In addition,  the Minister of …

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Georgia’s Unemployment Rate Drops to 11-Year Low

Georgia’s Unemployment Rate Drops to 11-Year Low

The number of people employed in Georgia is increasing. Official statistics from the country’s national statistics office, Geostat, revealed at the end of 2014 the unemployment rate in Georgia was 12.4 percent – the lowest it has been in 11 years. The 2014 unemployment rate was a decline of 2.2 percent …

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Georgian Lari strengthens against US dollar and Euro

Georgian Lari strengthens against US dollar and Euro

The national currency of Georgia, the Lari (GEL), is continuing to strengthen against the US dollar and the Euro after falling dramatically about seven months ago. For several days the Lari has steadily regained some of its value; it’s first appreciation since plummeting about 30 percent in value since November …

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NBG President Does Not Expect Further Depreciation of GEL

NBG President not Expects a Further Depreciation of GEL

President of the National Bank of Georgia Giorgi Kadagidze, does not expect the GEL to depreciate further in the mid-term period. Giorgi Kadagidze made this comment after holding a meeting with the head of the Budget and Finance Committee Tamaz Mechiauri, together with Finance Minister Nodar Khaduri, Regional Development Minister Nodar …

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