GEORGIAN SIDE HOPES TO START SOON ACTIVE NEGOTIATIONS ON NEW IMF PROGRAM

Within the framework of the annual autumn meeting of the IMF and the World Bank, Georgia’s Finance Minister Lasha Khutsishvili met with the IMF deputy managing director Bo Li, who replaced Tao Zhang on this post. The meeting in a virtual format took place on October 13, reported Georgian Finance Ministry. More...

GEORGIA DEVELOPED 10-YEAR ECOTOURISM DEVELOPMENT STRATEGY

Georgian Ministry of Economy and Sustainable Development declared about development of a 10-year strategy for development of ecotourism in the country. The document was signed on October 14 by Natia Turnava, Minister of Economy and Sustainable Development, and Levan Davitashvili, Minister of Environment and Agriculture. More...

“SAKSTAT” STARTED CALCULATION OF FOREIGN TRADE UNIT VALUE INDICES

Sakstat declared about start of calculation of the Foreign Trade (Import-Export) Unit Value Indices.

Georgian statistics service noted that calculation of the indices is envisaged in the action plan for 2021-2023 under the Free Trade Agreement with the EU. More...

IN 2020, REVENUES OF FINANCIAL SERVICES COMPANIES INCREASED BY 6.4%

Sakstat reported that declared incomes of Georgian companies, engaged in financial services, totaled in 2020 to 5.8 billion lari. If compared with 2019, the volume has increased by 6.4%. More...

ASSETS OF NON-FINANCIAL CORPORATIONS INCREASED BY 17.8% IN 2020

Referring to conducted research, Sakstat said that assets of Georgian non-financial corporations totaled at the end of 2020 to 94.5 billion lari. If compared with 2019, the volume has increased by 17.8%. More...

“COCA-COLA BOTTLERS GEORGIA GROUP” FINISHED 2020 WITH LOSS

JSC Coca-Cola Bottlers Georgia Group reported loss of 9.9 million lari for 2020. In 2019, the company had profit of 10.9 million lari. More...

IN 2020, PROFIT OF “TEGETA MOTORS” INCREASED 2.3 TIMES

LLC Tegeta Motors (car dealer) reported net profit of 16 million lari for 2020. If compared with 2019, the volume has increased 2.3 times. More...

“TBILISI CENTRAL” FINISHED 2020 WITH LOSS

JSC Tbilisi Central (shopping mall on the territory of Tbilisi railway station) reported loss of 4.1 million lari for 2020. If compared with the results of 2019, a net profit of 2.08 million lari was recorded. More...

Bankebi da Finansebi: “ARCHIL MESTVIRISHVILI: WE WOULD TIGHTEN MONETARY POLICY EVEN MORE”

Archil Mestvirishvili, vice-president of National Bank of Georgia (NBG), said that “the biggest challenge for our country in terms of monetary policy and in general, is high inflation”, which is “mainly caused by external factors”.

“If aggregated demand in previous periods was aimed at reduction of inflation, already in 2021, as we have increased economic activity, the aggregate demand no longer reduces the existing inflation”, Mestvirishvili pointed. More...

Batumelebi: “89 HA IN THE SEA FOR 1 LARI – CONTRACT DETAILS”

Georgian government handed over 89 ha of sea area in Batumi to LLC Batumi Ambassador Island with the 65-year right of development at a symbolic price of 1 lari, the newspaper reports.

The project envisages creation of two artificial peninsulas and one artificial island with the relevant infrastructure. More...

Forbes Georgia: “WITH THE SUPPORT OF “SAKARTVELOS BANKI”, “GMC” COMPANY EXPANDS ACTIVITY”

In partnership with Sakartvelos Banki (Bank of Georgia), company GMC starts production of building structures. Total cost of the project makes up 5.8 million lari, including 4.06 million lari, allocated by the bank, the magazine reports. More...

Forbes Georgia: “IN THE GLOBAL PASSPORT INDEX, GEORGIA RANKS 34^TH AMONG 199 COUNTRIES”

Georgia ranks 34^th among 199 countries in The Henley Passport Index, the magazine reports. As the article notes, Georgia has the “strongest” passport in the South Caucasus region. More...

POULTRY SECTOR IN GEORGIA

The poultry sector in Georgia enjoyed stable growth between 2007 and 2020 (i.e. since the global outbreak of bird flu had abated in 2006). The sector is the only agricultural sector to contribute VAT payments to the Georgian economy. More...