The Georgian economy grew by 11% in December 2022 and 10.1% over the past year, the latest data from the National Statistics Office of Georgia showed. The estimated real growth was observed in sectors including construction, manufacturing, transportation and storage. It was also observed in financial and insurance activities, trade, hotels and restaurants, while decline…
An annual report by the European Bank for Reconstruction and Development on Monday said the institution offered a total of EUR 218 million to Georgia in 2022, with investments ranging from healthcare to energy efficiency and from financing for small and medium-sized enterprises to credit lines to local banks and trade. Catarina Bjorlin Hansen, the…
A total of 10,822 permits were issued in Georgia in 2022 for construction projects spanning an area of 7.4 million square metres, the National Statistics Office of Georgia said in its latest release on January 30. The office said the number of permissions had increased by 72% YoY, while the area of construction works had…
The Georgian economy is forecast to grow by 5.2% in 2023 and by 4.6% in 2024, the World Economic Situation and Prospects report by the United Nations said. In the report, the UN noted the 10.8% growth shown by the country in the past year, prompting a raise in the UN’s initially forecast 4.4%. The…
Terms of operation of airline companies between Georgia and the United Kingdom, from tariffs to flight frequency and safety regulations, were agreed in a deal signed between authorities of the two countries on January 27. Georgia’s Economy Ministry said the agreement would enable airlines to independently determine their tariffs, capacity and frequency of flights, and…
Prime Minister Irakli Garibashvili on January 26 laid the symbolic foundation for the GEL 40-million ($15 million) project of building a military lyceum in the Krtsanisi district of capital Tbilisi to serve the eastern section of the country’s defence structure, the Government press office said. The ceremony in the location also involved Defence Minister Juansher…
Galt & Taggart, a Georgia-based company for investment banking and management services, has forecast the country’s tourism revenues to increase by 15% YoY and reach $4 billion in 2023 in its Tourism Market Watch update released on January 25. The release said Georgia’s tourism revenues stood at $363.3 million in December 2022, up 2.9-fold YoY…