S&P upgrades Georgia to 'BB'
Standard & Poor's (S&P) Global Ratings has raised its long-term foreign and local currency sovereign credit ratings on the Government of Georgia to 'BB' from ‘BB-’. It also affirmed the short-term ratings at …
Georgian economy
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Georgian economy to grows 5% in 2020 - government
The Georgian government set a forecast for economic growth of 5% according to the draft state budget for 2020, the website of the Georgian government reported. Next year, according to the forecasts of the Georgian government, the …
Foreign investments in Georgia decline by 6.3%
Georgia attracted $281.1 million in foreign direct investments in the first quarter of 2019, which is a 6.3% decrease compared to the same period of 2018, according to the latest preliminary data of the National Statistics Office of …
Georgia exports 12 mln bottles of wine in two months
Georgia exported about 12.2 million bottles of wine to 32 countries in January-February 2019, which is a 13% increase compared to the same period of 2018, according to the Georgian National Wine Agency. Last month Georgia generated …
Georgia’s economy grows 3.5% in 2019
Georgia’s economy is growing steadily, according to the latest data from the National Statistics Office of Georgia (Geostat). The estimated real gross domestic product (GDP) growth rate in January 2019 equaled 3.5% …
IMF forecasts 4.6% economic growth in Georgia
The International Monetary Fund said that Georgia's economic growth is projected to reach 4.6% in 2019. An IMF team led by Mercedes Vera-Martin visited Tbilisi on February 20-26 to discuss recent economic and …
International companies opening regional offices in Georgia to enjoy tax benefits
Georgia is striving to become a regional financial centre, inviting large transnational companies to open regional representations in Georgia and receive unique tax benefits, Georgian Prime Minister Mamuka Bakhtadze said. …
Georgian citizens' debts to be annulled
The bank debt of over 600,000 Georgian citizens, including those on a so-called ‘black list’ will be written-off, Georgian Prime Minister Mamuka Bakhtadze said. "Almost 95% of debts of the …
Georgian exports increase by 24.5%
Georgia's external merchandise trade (excluding non-declared trade) amounted to $10 305.9 million in January-October 2018, 20.5% higher year-on-year, according to Sakstat. The value of export increased by 24.5% reaching $2 751 …
Georgia's economy grows 4%
Georgia's economy grew 4% year-on-year in the third quarter of 2018 and 4.9% in the 9 months of 2018, the National Statistics Office of Georgia (Geostat) reported. The estimated real gross domestic product (GDP) growth rate in …
IMF completes third review in Georgia
The International Monetary Fund has completed the third review on the Extended Fund Facility approved last year under which Georgia is receiving $285.3 million over a period of 3 years. Georgia's Prime …
Asian Development Bank improves economic growth outlook for Georgia
The Asian Development Bank (ADB) has revised its economic growth outlook for Georgia to 4.9% instead of 4.5%. The inflation forecast on Georgia has been reduced to 3% for 2018-2019, according to the report of the Asian …
Lagarde: Georgian economy demonstrates signs of recovery
The managing director of the International Monetary Fund (IMF), Christine Lagarde, praised the progress in the economic growth of Georgia after she met with Georgian Prime Minister Mamuka Bakhtadze in Washington …
Georgia to receive €45 million assistance package from EU
The European Commission has signed a memorandum of understanding with Georgia for macro-financial assistance (MFA) of up to €45 million to help Georgia cover part of its external financing needs and support economic reforms, the European …
IMF praises economic activities of Georgia
An International Monetary Fund (IMF) team, led by Mercedes Vera-Martin, has concluded its visit to Georgia, which was held during August 21-27 to discuss recent economic and financial developments and progress with structural …
Fitch Ratings affirms Georgia at 'BB-', outlook positive
Fitch Ratings has assessed Georgia’s Issuer Default Ratings (IDR) at 'BB-'. The outlook is positive, Fitch added. “Georgia's ratings are supported by governance and business environment indicators that are above …
What will Georgia face under PM Bakhtadze?
Candidate for Georgia's Prime Minister Mamuka Bakhtadze has presented the governmental program ‘Freedom, fast development, prosperity.’ In his speech Bakhtadze talked about how his new government sees …
Georgia's new tax initiatives to support local and foreign businesses
Georgia's government is introducing three new tax initiatives that aim to support businesses in Georgia, improve the business environment and increase the share of small and medium sized business in the country’s economy. …
Georgia's external trade increases by 16% this year
Georgia's external merchandise trade amounted to $1 683.5 million in January-February 2018, excluding non-declared trade (16.3% higher year-on-year), according to GeoStat. The exports equaled $446.4 million (25.5% higher), …
Fitch revises outlook on Georgia to positive
Global rating agency Fitch Ratings revised its outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the rating at BB-, citing favorable growth prospects. The …
