Georgia sold state property for $49 mln

Maria Novoselova/ Vestnik Kavkaza

In six months, Georgian officials privatized movable and immovable state property for almost $50 mln and exceeded the plan for selling objects by a third.

The National Agency for State Property of Georgia reported on the progress of privatization of state real estate in the H1 of the year. According to the agency, various buildings owned by the state were sold for $47 mln in six months.

Agency officials noted that they managed to exceed the six-month plan for selling state objects by 36%, the government set a target of $34 mln.

During this time, factories, warehouses, farms, hospitals, gyms and hotels were privatized.

The agency admitted that it is not always possible to immediately sell a particular state building: 463 auctions were organized to privatize 261 objects.

Officials added that another $2 mln was earned in the first half of the year from sales of movable state property. This primarily concerns automobile transport.