Commercial banks in Georgia loaned GEL 44.47 billion ($16.9 billion) and received deposits of GEL 43.64 billion ($16.5 billion) in January, the latest data from the National Bank of Georgia showed. The volume of loans decreased by 0.71% MoM, while the number of deposits increased by 2.84%. Last month, the volume of term deposits increased…
The Georgian Government’s Interagency Commission has been authorised to set wholesale prices for select pharmaceutical products by Prime Minister Irakli Garibashvili, in the latest move designed to effect a reduction of domestic costs of medication. Citing “high public or state interest” in the mandate, the Government Administration said the Commission had also been allowed to…
Irakli Karkashadze, the Director of the United Airports of Georgia, met with representatives of Air Serbia to discuss prospects of the airline launching operations at Tbilisi International Airport with direct flights connecting the two countries, the airports body said on February 23. In his meeting within the CONNECT Route Development Forum in Tangier, Morocco, Karkashadze…
Georgia’s progress in debt management, operating an office for large taxpayers and facilitating risk analysis and tax audit was discussed between the country’s Finance Minister Lasha Khutsishvili and Enrico Aavi, the head of the Technical Assistance project of the International Monetary Fund. Within the visit, which involved working meetings between February 8 and 21, it…
Otar Shamugia, the Georgian Agriculture Minister, on February 20 said the Government was allocating GEL 16 million ($6 million) for promotion of Georgian products in “strategic” foreign markets, including in the United States and Europe, this year. Speaking to the media following the weekly Government meeting, the official explained the move was aimed at diversifying…
The long-anticipated construction of the Anaklia deep sea port on Georgia’s Black Sea coast will start this year, Prime Minister Irakli Garibashvili announced on February 20. Making the announcement at the weekly Government meeting, Garibashvili said the Government would hold a 51% share in the major infrastructural project, while bidding for the remaining 49% would…
On February 13-19, the Customs Service collected over 688.1 million lei (about 34.4 million euros) to the state budget. According to the institution, private people brought goods with customs value exceeding the non-taxable limit, and payments amounting to over 19.1 million lei were collected, which represented 2.8% of the total amount. The money collected from…