IN Q2, GEORGIA’S DOMESTIC DEBT INCREASED BY 8% Y-O-Y

Georgian Finance Ministry reported that as of June 30, Georgia’s domestic debt totaled to 6.25 billion lari (excluding the so-called “historical debt”). The volume has increased by 0.2% quarter-on-quarter and by 8% year-on-year. More...

IN 6 MONTHS, ELECTRICITY CONSUMPTION IN GEORGIA INCREASED BY 9.8% Y-O-Y

Referring to data of electricity market operator (ESCO), Galt&Taggart reported that in 6 months of this year, electricity consumption in Georgia reached 7.3 TWh, increasing by 9.8% year-on-year. The company noted that the growth was caused mainly by consumption of legal entities. More...

IN 6 MONTHS, VOLUME OF ELECTRICITY SUPPLIED BY GEORGIAN HPPS INCREASED BY 21.1% Y-O-Y

Referring to data of electricity market operator (ESCO), Galt&Taggart reported that in 6 months of this year, volume of electricity supplied by Georgian hydroelectric power stations (HPPs) amounted to 5.5 TWh, making up 67.2% of total supplied volume.

The company indicated that hydropower generation in the country increased by 21.1% year-on-year, due to favorable hydrological conditions and low showings of largest EngurHES station in 2021 (caused in its turn by repair works). More...

“GALT&TAGGART”: IN THE FIRST HALF OF THE YEAR, GEORGIA’S ELECTRICITY TRADE BALANCE WAS POSITIVE FOR THE FIRST TIME OVER LAST 10 YEARS

In January-June, for the first time in the last 10 years, the country’s balance of electricity trade was positive, Galt&Taggart said in its report.

The company indicated that Georgia earned $55.8 million from electricity export, while spent $34.7 million for electricity import, resulting in net export of $21.1 million. More...

IN 6 MONTHS, RUSSIA ACCOUNTED FOR 77% OF GEORGIA’S TOTAL ELECTRICITY IMPORT, MOST PART OF WHICH WAS CONSUMED IN ABKHAZIA

Referring to data of electricity market operator (ESCO), Galt&Taggart reported that in 6 months of this year, Russia accounted for 77% of Georgia’s total electricity import volume, Armenia – for 12%, while Azerbaijan – for 11%.

At that, Abkhazia consumed 55% of total electricity imported to Georgia, the company noted. More...

“TAV GEORGIA” TO FINISH WORK ON TBILISI AIRPORT DEVELOPMENT PLAN BY END OF THE YEAR

TAV Georgia (operator of Tbilisi and Batumi airports) will complete work on plan of Tbilisi airport’s development by the end of this year, declared Georgian Ministry of Economy and Sustainable Development.

The Ministry noted that in developing the plan, TAV Georgia cooperates with ADP Ingenierie, French airport engineering and consulting company (member of ADP Group, which includes also owner of TAV Georgia, Turkish TAV Airports). More...

GEORGIAN GOVERNMENT: TURKISH “DEMIROREN” TO MAKE A MAJOR INVESTMENT IN CONSTRUCTION OF A HOTEL IN TSKALTUBO

The Georgian government declared that the Turkish Demiroren Holding will make a large investment (the amount is not specified) in construction of a new 5-star Old Iveria hotel in Tskaltubo (a balneological resort in Imereti region).

On August 11, Georgia’s Prime Minister Irakli Garibashvili met with the head of the holding Yildirim Demiroren in Tbilisi. More...

TBILISI CITY HALL: PARK INFRASTRUCTURE TO BE DEVELOPED IN CHUGURETI DISTRICT

Tbilisi City Hall reported about construction of a park infrastructure, being underway on 5,000 square m in the settlement of Ivertubani of Chugureti district. Construction works cost 1.2 million lari, the City Hall said. More...

Netgazeti.Ge: “GOVERNMENT EXPECTS FUEL TO DROP IN PRICE AT THE END OF AUGUST”

Levan Davitashvili, Georgia’s Minister of Economy and Sustainable Development, declared that issues of competition on the fuel market, as well as the search for cheap sources of fuel supply are being considered together with the private sector.

“The government expects that by the end of this month fuel prices at filling stations will significantly decrease”, the Minister pointed. More...

Rezonansi: “DESPITE THE POSITIVE TRENDS, BUILDERS DO NOT PLAN TO REDUCE REAL ESTATE PRICES”

In the last period, real estate prices have been constantly rising, which is partly attributed to the exchange rate, while partly – to the rise of materials in price, the newspaper says.

Now, the process of reduction of cost of building materials has begun, but representative of the sector Irakli Rostomashvili considers that apartments will still rise in price. More...

Bankebi da Finansebi: “A NEW, UNIQUE PRODUCT “CARAVAN” HAS APPEARED ON THE GEORGIAN TOURIST MARKET”

Musical Caravan is a tourist movement that will hold monthly tourist events in Georgian regions together with musicians from September, the newspaper reports.

To this end, a memorandum of understanding was signed between the Caravan and Georgian travel company Go Tour on August 11. More...

Forbes Georgia: “TORNIKE KORDZAIA IS APPOINTED DIRECTOR OF RETAIL BANKING AT “LIBERTY BANK””

Tornike Kordzaia has been appointed director of retail banking at Liberty Bank, the magazine reports. He has 11-year experience of working in financial organizations. More...

MONTHLY TOURISM UPDATE (NOVEMBER 2021)

- The number of international travelers¹ increased by 288.8% in November 2021, compared to the same period of 2020, and declined by 73.0% compared to the same period in 2019. Meanwhile, the number of international visitors² increased by 267.2% (2021/2020) and declined by 69.3% (2021/2019), and the number of international tourists³ increased by 283.2% (2021/2020) and declined by 55.3% (2021/2019). More...