Georgia’s real GDP expanded by 2% in November 2016, after a 1.3% growth in October, according to the preliminary data released by the State Statistics Office. Economy grew by 2.4% in the first eleven months of 2016, according to Geostat’s preliminary data. The 2016 economic growth forecast was reduced from 3% to 2.7% as a…
Pobeda Airlines, Russia, left the Georgian civil aviation market with dumping prices, says Givi Davitashvili, Director General, Georgian Airways. According to him, Georgian Airways has repeatedly made statements about operating with Russian and Turkish air companies at dumping prices, but the authorities do not take any retaliatory steps. “The same thing is with Turkey, there…
Foreign direct investment in Georgia increased by 5% YoY in the first nine months of 2016 to $1.29 billion, according to preliminary data released by the State Statistics Office. FDI in the third quarter stood at $463 million, down by 4% YoY and up by 3.8% QoQ. After increasing by about 33% YoY in the…
The European Investment Bank (EIB) will allocate EUR 450 million to Georgia through three loan agreements, the EIB and Georgian Prime Minister’s Office said. EUR 250 million will be allocated to finance new construction and upgrading of priority roads, EUR 100 million for the rehabilitation and upgrading of municipal infrastructure and a EUR 100 million…
Turkmen President Gurbanguly Berdimuhamedov discussed the further cooperation prospects at the meeting with his Georgian counterpart Giorgi Margvelashvili. Stressing that Georgia played an important role in the integration of the Black Sea and the Caspian Sea, President Margvelashvili confirmed the readiness to act as a reliable partner in the implementation of joint transport projects, the…
The government of Georgia signed an agreement that grants the Anaklia Development Consortium (ADC) the exclusive right to construct, develop and operate the $2.5 billion Anaklia deep seaport, which would help establish a new maritime corridor from China to Europe. As part of the agreement, the government will invest $100 million in the construction and…
Ukraine and Georgia have signed an agreement at the governmental level on arranging direct international railroad services through the two countries’ seaports, the Ukrainian Infrastructure Ministry press service reported. The agreement was signed at the International Maritime Forum in Batumi on September 13. “We signed a very important document today, which links Ukraine, Georgia, Kazakhstan…