People fleeing the conflict in Ukraine have been able to find work, this is often at a fraction of the wage offered to local hires. Wages for refugees as low as one quarter of that offered to a local worker have been reported, while the influx of Ukrainian people seeking work has caused confusion among…
The refinancing rate in Georgia is predicted to increase in March, the Managing Director of Galt & Taggart investment bank Otar Sharikadze has said. According to Sharikadze, the National Bank of Georgia (NBG) will increase the refinancing rate by 1-1.5% at the next meeting of the Monetary Policy Committee of the NBG scheduled for the…
In 2021, 5.3% of the population was exposed to severe material and social deprivation, down by 1.7% YoY. Persons with low income were the most vulnerable to material and social deprivation. Among the lowest income group (first quintile group) the share of the population exposed to severe material and social deprivation reached 16.2% in 2021,…
The National Bank has approved a list of additional measures to maintain the stability of the banking system by minimizing the negative impact of Russian aggression. The regulator has temporarily expanded the list of streamlined regulations governing banking operations. The easing relates to the Regulation on Determining the Amount of credit risk on active banking…
A total of 50 Ukrainian enterprises have already been relocated to western Ukraine as part of the business relocation program, as they have lost an opportunity to operate in certain regions due to the war. The relevant statement was made by the Servant of the People Party Leader, Servant of the People Faction Deputy Head…
Georgia’s wine export growth rate reached more than 40% in January-February, the Georgian Agriculture Minister Otar Shamugia said on March 21, adding the figure reflected the “purposeful policy” of the Georgian Government. Shamugia noted exports of agricultural products were increasing as well, pointing out the state’s support for market diversification, and saying the list of…
The geopolitical instability that came about after Russia’s invasion of Ukraine may reduce the volume of private investments in Latvia, says governor of the Bank of Latvia Martins Kazaks. “The geopolitical background in certain cases may reduce the plans of the private sector to invest, because insecurity and uncertainty can, in some cases, have a…