Georgian economy

Bread prices to rise in Georgia

Bread prices to rise in Georgia

Malkhaz Dolidze, chairperson of the Union of Bread Producers of Georgia, said that the price of bread would rise in the republic. It is predicted that the growth will be 0.2 lari from May this year. It is specified that the …

 Georgia names biggest risk for country's banking system

Georgia names biggest risk for country's banking system

The biggest risk to the Georgian banking system at present is dollarization, the head of the National Bank of Georgia Koba Gvenetadze said. According to him, this opinion is shared not only by him, but by independent agencies and …

World Bank improves Georgia's GDP growth forecast

World Bank improves Georgia's GDP growth forecast

The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023, says the June edition of the World Bank’s report Global Economic Prospects 2021. According to the latest GDP data of April …

Coronavirus will sent Georgia's economy back by several years

Coronavirus will sent Georgia's economy back by several years

The Covid-19 pandemic and its devastating economic impact painfully hit the entire South Caucasus region. Particularly difficult are the crisis in Armenia and Georgia, which, unlike Azerbaijan, whose economies do not have a financial airbag and …

IMF approves decision to allocate funds to Georgia

IMF approves decision to allocate funds to Georgia

Georgia will be allocated $41.4 million to complete the Fifth Review of Georgia’s economic reform program. The decision was supported by the Executive Board of the International Monetary Fund (IMF). "Georgia’s economy …

Georgia's exports increases by 12.4%

Georgia's exports increases by 12.4%

Georgia's exports increased by 12.4% to $2,1 million in January-July 2019, according to data from the National Statistics Office of Georgia (Geostat). At the same time. Georgia's imports stood at $4,9 million (4.7% lower …

National Bank of Georgia explains why it purchased $10 mln

National Bank of Georgia explains why it purchased $10 mln

The National Bank of Georgia (NBG) announced several weeks ago that they had purchased $1 million on the Foreign Exchange Auction, noting that the weighted average exchange rate was 2.7220 per dollar. This was the ninth foreign currency …

Georgia’s economy grows almost 5% in Jan-Feb 2018

Georgia’s economy grows almost 5% in Jan-Feb 2018

Georgia’s economy grew 4.9 percent in the first two months of 2018, show the latest data from the National Statistics Office of Georgia (Geostat), Agenda.ge reports. Last month the estimated real Gross Domestic …

Results of 2017: Azerbaijan - leader of South Caucasus

Results of 2017: Azerbaijan - leader of South Caucasus

In 2017, Azerbaijan reaffirmed its leadership in the South Caucasus region by once again gettion ahead of its Caucasian neighbors both by economic indicators, by scale of international projects and by prospects for further development. …

World Bank and Georgia celebrate 25 years of partnership

World Bank and Georgia celebrate 25 years of partnership

Georgia and the World Bank are celebrating 25 years of partnership today. To mark this occasion Georgia’s Finance Minister Dimitry Kumsishvili hosted the Vice President of the World Bank’s Europe and Central Asia …

Tbilisi to host first forum on prospects of Georgian economy

Tbilisi to host first forum on prospects of Georgian economy

The first annual forum entitled ‘Economy of Georgia: Prospects and Challenges’ will be held in Tbilisi on March 20. The corresponding message is posted on the website of the Azerbaijan Export and Investment Promotion Foundation …

Georgia's inflation rises 2.9 pct month-on-month in January

Georgia's inflation rises 2.9 pct month-on-month in January

Consumer prices in Georgia were up 2.9 percent in January in month-on-month terms after rising by 1.0 percent in December, Reuters reported. This information was published by the Georgian State Statistics Service in its report. …

Georgia and India deepen trade, culture, tourism ties

Georgia and India deepen trade, culture, tourism ties

Georgia and India are deepening bilateral ties in a range of field, including tourism and aviation, by signing a Memorandum of Cooperation (MoC) to facilitate easier travel between India and Georgia. Today Georgia’s Economy …

Georgia's economic growth slows down to 1.5%

Georgia's economic growth slows down to 1.5%

Latest data by the National Statistics Office of Georgia showed in September 2016, Georgia’s estimated real Gross Domestic Product (GDP) growth rate reached 1.5% year-on-year. Meanwhile, the estimated real GDP growth reached 2.2% …

Economic Freedom Report: Georgia ranks 5th in world

Economic Freedom Report: Georgia ranks 5th in world

Georgia is now one of the top five most economically free countries in the world, according to a new report by the Fraser Institute. The annual Economic Freedom of the World report, released earlier this week by the public policy …

Georgia's central bank delivers another 50bp rate cut

Georgia's central bank delivers another 50bp rate cut

Georgia's central bank continued to ease monetary policy by cutting the key refinancing rate by 50 basis points (bp) to 7%, the National Bank of Georgia (NBG) said on June 15, IntelliNews reports. The regulator began …