IN 2022, GEORGIA’S REAL GDP GROWTH MADE UP 10.1%

Sakstat released estimation, according to which Georgia’s GDP in current prices in 2022 amounted to 71.75 billion lari, increasing year-on-year by 19.6%. Real GDP growth made up 10.1%. More...

GEORGIAN PREMIER AND EU AMBASSADORS CONSIDERED GEORGIA’S IMPLEMENTATION OF 12 RECOMMENDATIONS

Today, Georgia’s Prime Minister Irakli Garibashvili met with the EU ambassador to Georgia Pavel Herczynski and ambassadors of the EU member countries. As administration of Georgian government noted, the working lunch, to which the Premier was invited, was held on the initiative of the ambassadors. More...

EGYPT AND GEORGIA AGREED TO COOPERATE IN DEVELOPMENT OF INVESTMENT AND ECONOMIC RELATIONS

Egypt’s General Authority for Investment and Free Zones (GAFI) and Georgian State Agency Produce in Georgia have agreed to cooperate in the development of investment and economic relations.

GAFI and the Agency signed a memorandum of understanding within the framework of the Georgian-Egyptian business forum in Cairo, reported Georgian Ministry of Economy and Sustainable Development. More...

AGREEMENTS WITH EBRD AND EIB ARE SUBMITTED TO GEORGIAN PARLIAMENT FOR RATIFICATION

Georgian Parliament considers a loan agreement with EBRD and a financial agreement with the European Investment Bank (EIB), which the government submitted for ratification.

Agreement with EBRD envisages allocation of 50.6 million EUR for the project of Tbilisi subway modernization (rehabilitation of 12 stations). More...

GEORGIAN PARLIAMENT INCREASED MONETARY LIMIT OF SIMPLIFIED PUBLIC PROCUREMENT IS BEING

At the plenary session today, the Georgian Parliament adopted in first hearing the draft amendments to the law “On Public Procurement”, which concerns simplified mechanism of procurement.

According to the current regulation, use of a simplified mechanism is allowed, if total cost of procurement does not exceed 5,000 lari within one year. More...

“BASISBANK” PLACED SUBORDINATED CORPORATE BONDS

Basisbank declared about accomplishment of private placement of subordinated corporate bonds. Maturity of the bonds expires in 7 years. More...

NBG REVOKED REGISTRATION OF “MAX EXPRESS” PAYMENT SERVICE PROVIDER

National Bank of Georgia (NBG) declared about cancellation of registration of the payment service provider LLC Max Express. The company has been put into liquidation mode. More...

DUE TO MATURITY EXPIRATION, BONDS OF “TBC LEASING” WERE WITHDRAWN FROM TRADE ON GEORGIAN STOCK EXCHANGE

Due to expiration of the maturity period, bonds of TBC Leasing were withdrawn from trading, the Georgian Stock Exchange declared. Simultaneously, this security was delisted too. More...

Netgazeti.Ge: “PROPERTY ABROAD OF DEPUTIES-SUPPORTERS OF THE RUSSIAN LAW”

Netgazeti.Ge has found out what property is owned abroad by members of the Georgian Parliament, who supported the draft law “On Transparency of Foreign Influence” (which caused mass protests and is called “Russian law” in Georgian society). The article reports about property of 7 MPs (in total, 76 MPs supported the draft law). More...

Rezonansi: “CHANGES IN PARLIAMENT AND GOVERNMENT – WHAT PROCESSES ARE TAKING PLACE WITHIN THE RULING TEAM”

Members of the ruling Georgian Dream faction – Vladimir Chachibaia, David Sergeenko and Irakli Kovzanadze chairman of the Fiscal Committee), are leaving the Georgian Parliament. Mikheil Chkhenkeli, Georgian Minister of Education and Science, also left the post. More...

Rezonansi: “IRAKLI LEKVINADZE: TODAY, BASIC CONSUMPTION PRODUCTS’ PRICE DISCREPANCY IN RETAIL CHAINS IS QUITE NOTICEABLE”

Irakli Lekvinadze, head of Georgian National Competition Agency, said that 10 essential food products with a significant share in the consumer basket were selected in February.

In relation to these products, an analysis of price markups was carried out, from prime cost of imports to the time of delivery to retail chains and then in relation to prices on the shelves in the retail sector, Lekvinadze stated, adding that as a result, quite high markups were identified. More...

Forbes Georgia: “RENEWABLE ENERGY AND GEORGIA”

“Construction of regulatory hydroelectric power plants really has not the pace today that I personally would like”, points author of the article (David Narmania, chairman of Georgian National Energy and Water Supply Regulating Commission). “However, the facilitating mechanisms, enacted by the Georgian government, give me grounds for optimism”, he adds. More...

GEORGIAN ECONOMIC CLIMATE (Q1, 2023)

“Georgian Economic Climate” is a product of PMC Research Center (PMC RC).

In this bulletin, which is based on the ifo Institute’s methodology, we discuss Georgia’s economic climate according to assessments made by various Georgian economists. More...