Georgia takes on development of resorts and cities
The Georgian Government’s Economic Council, led by Prime Minister Irakli Garibashvili, discussed the one billion lari, five-year state …
Georgian economy
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Georgia to sign Middle Corridor agreement next year
Georgian Economy Minister Levan Davitashvili said Georgia was the only country having free trade agreements with both Europe and China, which created an opportunity for economic activity, “making the country attractive” in this …
Georgia's National Bank reduces refinancing rate
The Monetary Policy Committee of Georgia's National Bank decreased the refinancing rate by 0.5%, to 9.5%, following a “more pronounced” reduction in the domestic inflation rate than anticipated. The National Bank …
Georgia's National Bank to start selling gold bars
Georgia's National Bank (NGB) said it would start issuing gold certificates and selling gold bars starting on December 4 in order to diversify the investment market and assets. The Royal Mint, the United Kingdom's official maker …
Asian Development Bank to boost support for Georgia
Georgian Prime Minister Irakli Garibashvili discussed Georgia's current economic situation and its fiscal and budgetary parameters with President of the …
Garibashvili reveals how much to be spent on Georgia's infrastructure projects in 2024
Georgian Prime Minister Irakli Garibashvili said 6.7 million lari ($2.47mln) would be spent on infrastructure projects across the country next …
Georgian authorities decide on country's budget for 2024
Georgian Prime Minister Irakli Garibashvili said the fiscally “balanced” state budget for 2024 involved “quite interesting” programmes and would affect the “largest part of our population” next year. …
Georgia's trade turnover expected to hit new record levels
Georgian Deputy Economy Minister Vakhtang Tsintsadze said his office expected the volume of the country's export and trade turnover to hit “new record levels” in 2023, repeating the last year's results. According to …
Georgia's central bank lowers refinancing rate to 10%
The National Bank of Georgia decided to lower the refinancing rate to 10% from 10.25% on September 13, the bank said in a press …
Georgia decreases refinancing rate to 10.25%
Georgia's National Bank decreased the refinancing rate by 0.25 percentage points to 10.25% after monitoring developments in the domestic economy and financial markets. The bank said annual inflation had dropped to …
National Bank of Georgia reduces refinancing rate
The National Bank of Georgia announced a “gradual exit” from its tight monetary policy, as it decreased the …
National Bank of Georgia announces bidding for procurement of instant payment
Georgia's National Bank has announced an open international tender for the procurement of an Instant Payment System (IPS), to be implemented in compliance with the procurement procedures of the World Bank. All payment system …
Georgian economy grows by more than 10% in year
In 2022, Georgia's economy grew by 10,1% on average. This was reported in the National Statistics Office of Georgia "Sakstat". They noted that in December 2022, GDP growth was 11% higher than in the same period …
Georgian external trade on the rise
Georgian external trade turnover amounted to $17.02 billion in January-November 2022, posting a 32.2% increase year-on-year. The value of exports rose by 31.8% and equalled $5.03 billion in the reported period, while imports also grew …
Georgia enjoying economic boom
Georgia is on course to become one of the world’s fastest-growing economies this year following a dramatic influx of more than 100,000 Russians. "As much of the globe teeters towards recession, this country of 3.7 million …
Georgia's Central bank governor forecasts inflation to decline starting February
Governor of the national bank of Georgia Koba Gvenetadze said the financial institution expected domestic inflation to begin to decline from February and approach the target level in the second half of 2023. Gvenetadze warned …
Georgia expects 2022 to close with double-digit economic growth
Georgian prime minister Irakli Garibashvili on Monday said the domestic high economic growth rate was expected to be maintained with the year closing with “double-digit figures”. The government administration cited …
Georgia ranked 13th for investor interest among 100 states
Georgia has been ranked 13th among the United States, Great Britain, China and the world’s major economies in Bloomberg Media’s recent ranking for investor interest, Georgian economy minister Levan Davitashvili said. …
Georgia to present 2030 development strategy
The Georgian Government will officially unveil its 2030 development strategy for the country in the coming days after approving the document, Georgian Prime Minister Irakli Garibashvili said while announcing the document involved focus on …
Garibashvili reports unprecedented economic growth in Georgia
Georgian Prime Minister Irakli Garibashvili said Georgia’s average real Gross Domestic Product increase of 10.3% between January and July was an “unprecedented economic growth worldwide”. Speaking at the cabinet …
