Growth forecasts for Caucasus and Central Asia states revised up
The Asian Development Bank (ADB) has revised up the growth projection for the Caucasus and Central Asia to 4.9% from 4.7% for 2024 and to …
Georgian economy
Foreign investments in Georgia declining
Foreign direct investments in Georgia reached $197.7 million in the third quarter of 2024, a decrease of 55.2% compared to the adjusted figures from the same period in 2023, Georgia's National Statistics Office ( …
Annual inflation surges in Georgia
Annual inflation in Georgia accelerated to 1.3% in November from 0.3% in October, the national statistics agency Sakstat reported. Consumer prices …
Georgia's First Deputy PM comments on Green Corridor project progress
Georgian Economy Minister Levan Davitashvili highlighted the importance of the Green Energy Corridor project for energy independence. In his comments at the COP29 in Baku, Davitashvili said the Green Energy Corridor project also …
Georgian Dream ready to bring country to higher level
The ruling Georgian Dream party intends to take the country to a significantly new level of development in the next four years of its rule …
Georgia predicted to have serious economic growth
The International Monetary Fund has upgraded its economic growth forecast for Georgia to a 7.6% for 2024, surpassing the rates of European countries and the country's regional neighbours, the Georgian Economy Ministry said. In its …
Georgia’s domestic exports consistently increase
Georgian Deputy Economy Minister Vakhtang Tsintsadze said domestic exports had “consistently increased“ since June, with an overall 4.1% increase between January and September contributing to a “record” total volume of …
First ships to be admitted in Anaklia port in 2029
Georgian Prime Minister Irakli Kobakhidze emphasised the role of the Anaklia deep sea port project in boosting the country's connectivity …
Georgia's inflation rate declines in September
The monthly inflation rate in Georgia amounted to 0.3% in September, while the annual figure stood at 0.6%, the National Statistics Office said. Prices for services in education increased by 4.4% month-on-month, contributing 0.22% …
Irakli Kobakhidze underlines Georgia's successes
Georgian Prime Minister Irakli Kobakhidze said the country’s "very significant progress” in “democracy, economy and social …
Kobakhidze: Georgia to eradicate poverty by 2030
Georgian Prime Minister Irakli Kobakhidze emphasised the “very high” economic growth of 9.3% of the first five months of the …
Georgian foreign trade declines - statistics
Georgia's foreign trade turnover in the first half of 2024 dropped by 1.8% compared to the same period in 2023, totaling $10.3 billion, the Georgian National Statistics Service reported. From January to June 2024, the country …
Blueberries to double Georgian farmers' income in 2024
Georgian Minister of Agriculture and Environmental Protection Otar Shamugia said that blueberry production and export was expected to double this year. "This year we expect a doubling of blueberry production …
Georgian National Bank maintains refinancing rate
The Georgian National Bank decided to keep the refinancing rate unchanged at 8% as inflation in the country remained below the target …
World Bank projects Georgia's economy to grow
The Georgian economy has been projected to grow 5.2% in 2024 in the June edition of the World Bank’s Global Economic …
Georgian economy shows stable growth
Georgia's GDP grew 11.8% year-on-year in April 2024, the Georgian National Statistics Service reported. The average growth rate for the first four months of 2024 was determined at 9%. Manufacturing, construction, …
Economy Minister pledges to maintain macroeconomic stability in Georgia
Georgian Economy Minister Levan Davitashvili said the government would “maintain macroeconomic stability because of its highly responsible economic policy”. The minister expected investors to “make objective …
Poverty reaches historic lows in Georgia
Georgia's Deputy Minister of Economy Vakhtang Tsintsadze said poverty levels had reached “historic lows” in the country. "In just one year, [the figures] decreased by 3.8%, lifting approximately …
Georgia's Anaklia port to be built by Chinese consortium
Georgian Economy Minister Levan Davitashvili said China Communications Construction Company Limited would be announced as the Georgian Government’s private partner for the Anaklia port project “in the coming days”. …
Deputy PM: Georgia’s economy to be fastest growing in Europe
Georgian Deputy Prime Minister, Economy Minister Levan Davitashvili said the country’s economic growth forecast was “positive” in the medium term and the domestic economy was set to become “one of the …
