“TBC RESEARCH” DECREASED FORECAST OF GEORGIA’S ECONOMIC GROWTH

TBC Research updated its forecast, decreasing estimated rate of Georgia’s economic growth in 2019 to 4.3%. Previous forecast made up 5%. More...

“TBC RESEARCH” EXPECTS STRENGTHENING OF LARI IN THE NEXT MONTHS

In the next few months, lari exchange rate will strengthen to 2.8 GEL/USD or even more, TBC Research declared.

Analysts of the company explained that further global strengthening of the US dollar is less probable, while environment on international markets in respect of attraction of credit resources is quite favorable. More...

PRIME MINISTER: THE GOVERNMENT PLANS TO SUPPORT TOURISM SECTOR

“We prepared two programs in order to assist small and medium businessmen, who are engaged in the sector of tourism”, Georgia’s Prime Minister Mamuka Bakhtadze declared.

The Premier specified that the first program envisages support to construction of hotels, being underway, in which regard there is a risk that it will be suspended. More...

NATIONAL COMMITTEE ON ASSISTANCE TO INTERNATIONAL TRADE HELD THE FIRST MEETING

National Committee on Assistance to International Trade held in Georgian Finance Ministry its first meeting today.

As the Ministry reported, participants of the meeting discussed obligations, envisaged by agreement on assistance to trade, course of their fulfillment, new customs legislation and issues, related to introduction of institute of authorized economic operator. More...

HEAD OF WINE AGENCY: CERTAIN DIFFICULTIES ARE EXPECTED DURING RTVELI THIS YEAR

Levan Mekhuzla, head of Georgian National Wine Agency, declared that certain difficulties are expected during rtveli (vintage) this year. During recent period, multiple negative expectations arose on the market, which could negatively affect the private sector’s activity, he explained. More...

PRIME MINISTER: WE CAN SURELY SAY THAT SETTLEMENT OF PROBLEM OF MARMORATED STINK BUG IS NEAR THE END

“This year, we can already surely say that settlement of problem of marmorated stink bug [Halyomorpha halys, the pest] approaches the end”, Georgia’s Prime Minister Mamuka Bakhtadze declared at the meeting with hazelnut producers in Zugdidi (Samegrelo region). “This year is critical”, he pointed. More...

ECONOMY MINISTRY: OVER 5,000 FAMILIES IN IMERETI REGION WILL HAVE GAS SUPPLY

Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared that 3-year program of gas installation is continued, within which natural gas will be installed in 226 settlements of the country.

According to the Minister, that number includes 29 settlements in Imereti region, where 5,150 families reside. More...

IN LLC “GEO-NUTS”, CREATED WITHIN THE UNIFIED AGROPROJECT, 2.78M LARI IS INVESTED

Georgian Ministry of Environmental Protection and Agriculture reported that within the unified agroproject, hazelnut-processing enterprise Geo-Nuts was created in Zugdidi municipality (Samegrelo region).

According to the Ministry, investments in the enterprise amounted to 2.78 million lari, including grant of 600,000 lari and preferential agrocredit of 1.21 million lari. More...

Forbes Georgia: “KVESHETI-KOBI ROAD WILL BE BUILT BY CHINESE COMPANY, WHICH ACTIVITY THE WB HAS LIMITED”

Contract on construction of Kvesheti-Kobi road of 13 km is signed with Chinese China Railway 23rd Bureau Group Co.

As the magazine reports, the World Bank (WB) has limited last year activity of China’s CRCC and its subsidiary China Railway 23^rd Bureau Group Co for 9 months. More...

Forbes Georgia: “RUSSIA, IRAN, ISRAEL – FROM WHICH COUNTRIES REAL ESTATE IN TBILISI IS PURCHASED”

Referring to research of TBC Capital, the magazine reports that foreigners’ interest in acquisition of the real estate in Tbilisi had increased from 2015 to 2018.

In particular, if foreigners accounted for 3% in total realized real estate in 2015, their share in 2018 made up already 13%. More...

Tabula: ““KULA”, “MARNEULI”, “SUPREMO” – PRODUCTS, IN WHICH “MOMXMAREBELI.GE” REVEALED NONFOOD COLORING AGENT”

Georgian Center of Strategic Research and Development conducts monitoring of production, represented on Georgian market.

As a result of monitoring of 42 samples of tkemali (plum sauce), tomato sauce, adjika and red pepper, nonfood coloring agent was revealed in 6 ones, Tabula reports. More...

Tabula: “FOR NATIONAL BANK, NEW HEAD OFFICE WORTH 50M LARI WILL BE BUILT”

In near future, construction of new head office of National Bank of Georgia (NBG) is planned, Tabula reports. As the article notes, cost of the project of class A office makes up 50 million lari. More...

MONTHLY TOURISM UPDATE (JUNE 2019)

- In June 2019, compared to June 2018, hotel prices in Georgia decreased by 2.9%, this was mainly due to the prices of 3-, 4-, 5-star hotels. The prices of 3-, 4-, 5-star hotels decreased by 7.3%, while the prices of guesthouses increased by 9.9%. More...