Commercial banks in Georgia loaned GEL 42.94 billion ($15.62 billion) and received deposits of GEL 42.04 billion ($15.29 billion) in September, the latest data from the National Bank of Georgia showed. The volume of loans decreased by 0.64% in September compared to the previous month, while the number of deposits increased by 0.68% MoM. Last…
The Economy Ministry has plans to develop a green growth strategy for the country, deputy minister Romeo Mikautadze announced at a “high-level dialogue” on sustainable public procurement and eco-labelling in Georgia on October 25. The ministry cited Mikautadze as saying sustainable public procurement and eco-labelling were “essential components of a green economy”. “In sustainable public…
Georgian economy minister Levan Davitashvili and Tamar Archuadze, the general director of the United Airports of Georgia, met with Jozsef Varadi, the general director of Hungarian budget airline Wizz Air, in Tbilisi to discuss future cooperation, the Ministry of Economy announced. Varadi flew to Georgia from Bulgaria as part of his business trip that was…
Georgia’s agricultural products have been showcased at the Saudi Agriculture International Trade Exhibition for the first time, the Agriculture Ministry reports. The state body said visitors had the opportunity to learn about 10 Georgian companies producing agricultural products, including honey, mineral water, natural fruit juice, spices, olive oil and sour plum sauce. “Saudi Arabia is…
Georgia’s income from international tourist visits reached $375,615,194 in September, up by 132.1% YoY, the Georgian national tourism administration said on October 20. Revenues from international tourism in September exceeded the figure of 2019 for the third time since the beginning of the pandemic, the GNTA said. The amount received in September was 17.9% higher…
Georgia exported locally produced goods worth $4.09 billion between January-September, up by 37.4% YoY, preliminary data from the national statistics office of Georgia showed. Geostat said local exports in the country had accounted for 68.7% of total exports, amounting to $2.81 billion, up by 29.9%. Georgia’s top trading partners were: China – $541.9 million, Russia…
With the involvement of experts from the World Bank, the National Bank of Georgia (NBG) has developed new transparency requirements for financial organisations operating in the country in a bid to ensure transparency of prices of financial products sold in combination and encourage competition in the market. The requirements apply to commercial banks and branches…