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Economic Press Monitor


February 12, 2024

IN THIS ISSUE:

1. RUSSIAN FUEL WAS SOLD ON THE MARKET WITH A HIGHER MARKUP THAN EUROPEAN – COMPETITION AGENCY
2. IN 2023, GEORGIA PURCHASED UP TO 10 CIGARETTES – TOP-5 COUNTRIES OF IMPORT
3. MINISTRY DECLARES THAT AGREEMENT HAS BEEN ALREADY REACHED WITH 250 EMPLOYEES OF REPUBLICAN HOSPITAL

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1. RUSSIAN FUEL WAS SOLD ON THE MARKET WITH A HIGHER MARKUP THAN EUROPEAN – COMPETITION AGENCY
Energy, Oil & Gas

In 2023, Georgia imported 1.54 million l of petrol and diesel fuel, 62.5% of which was delivered from Russia.

Georgian Competition and Consumer Protection Agency estimates that Georgian market’s import was moderately concentrated on the Russian market.

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2. IN 2023, GEORGIA PURCHASED UP TO 10 CIGARETTES – TOP-5 COUNTRIES OF IMPORT
International Cooperation

In 2023, Georgia imported 9.8 billion cigarettes, which number has increased by 22% compared to 2022 (data of Sakstat). The cost of imports totaled to $157.5 million, increasing by 21%.

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3. MINISTRY DECLARES THAT AGREEMENT HAS BEEN ALREADY REACHED WITH 250 EMPLOYEES OF REPUBLICAN HOSPITAL
Conflict and Court

Up to 250 employees of the Republican Hospital (medical facility in Tbilisi, which building the government decided to dismantle) have already opted for a compensation package, Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection reports. In total, the hospital employs over 650 employees.

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Exchange Rates (NBG)
  02/23/24 + / -
  USD   2.6530   0.0025
  EUR   2.8708   0.0066
  RUR   2.7962   0.0457
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