The Georgian Government’s economic team has prepared amendments to the Tax Code of the country with regards to fiscal and tax policy parts of the code that concern the financial sector, Finance Minister Lasha Khutsishvili has said. Khutsishvili said banking institutions, credit unions, microfinance organisations and lending entities would see the “classical model” of income…
Prime Minister Irakli Garibashvili on December 5 said this year’s fruit harvest was expected to hit about 45,000 tons of citrus, adding the Government would subsidise collection of non-standard tangerines. Last week, the regional Government of Adjara also announced state authorities would co-finance collection of a kilogram of industrial tangerines with GEL 0.15 ($0.055), with…
The Georgian Government has revealed plans for a new ropeway that will service 1,800 passengers per hour in the northern Gudauri ski resort, Prime Minister Irakli Garibashvili said on December 5. Speaking at the weekly Government meeting, the PM said the new cable car would reach the length of 2,800 metres on slopes of the…
The United States Agency for International Development and Georgian Renewable Power Company have teamed up to develop a solar power project at the Qartli wind farm to increase Georgia’s clean energy production capacity during periods of low wind speed in the central municipality of Gori. The project aims to bring additional five megawatts of solar…
Georgian deputy economy minister Mariam Kvrivishvili announced GEL 200 million ($73.81 million) would be allocated at the initiative of Prime Minister Irakli Garibashvili to improve tourism infrastructure and contribute to the creation of new jobs in the sector. Kvrivishvili also noted the government’s recently announced programme for developing new tourism locations while upgrading the existing…
The United States Agency for International Development has allocated a grant of $220,000 for supporting financial market development in Georgia, the national bank of Georgia reports. The two-year programme aims to provide necessary financial support for the implementation of activities planned by the Georgian Financial Markets Treasuries Association to promote development of the domestic financial…
The Georgian economy grew by 10% YoY in January-October with the real gross domestic product growth showing an 8.3% increase over the previous year, the latest data from the national statistics office showed. Areas including construction, transport and warehousing, financial and insurance activities and mining industry made a “significant contribution” to the growth, the body…