A latest report by the national bank of Georgia has said the country’s financial sector is maintaining stability and is lending to the economy “without interruption”. The bank said on September 28 its inquiry had shown a majority of banks had already restored the buffers released during the shock of the Covid-19 pandemic, and were…
The European Bank for Reconstruction and Development has raised its economic growth forecast for Georgia, announcing it is expecting the Georgian economy to grow by 8% this year, “significantly higher” than the previously predicted 3% growth. For next year, the bank’s report Regional Economic Prospect expects this trend to moderate further to 5%, in line…
A series of European Union-funded labour market studies have identified low qualification of job seekers as one of the main barriers for both employers and those looking for work in Georgia, the EU Delegation to Georgia has said. The research also pointed to insufficient work experience, improper assessment of job seekers’ knowledge and skills, and…
Commercial banks in Georgia loaned GEL 43.21 billion ($15.3 billion) and received deposits of GEL 41.76 billion ($14.78 billion) in August, the latest data from the National Bank of Georgia showed. The volume of loans increased by 2.68% in August compared to the previous month, while the number of deposits increased by 7.74%. Last month,…
The tendency of dropping prices and inflation should continue in the coming months with the inflation rate coming closer to the target 3% in the second quarter of 2023, finance minister Lasha Khutsishvili said on September 26. In comments on the latest trends, Khutsishvili noted the downward trajectory of inflation over the past two months…
Factories have processed 175,500 tons of grapes from the ongoing harvest in Georgia’s eastern winemaking region of Kakheti, with about 16,000 growers generating GEL 174 million (about $61,514,530) in income so far, the national wine agency has announced. Growers have processed the following grape varieties: Rkatsiteli – 102.7 tons, Saperavi – 75.5 tons and Kakhuri…
Kutaisi international airport in Georgia’s west is expected to service more than a million passengers in 2023, Tamar Archuadze, the head of United Airports of Georgia, has said. Archuadze made the comment at the presentation of a research Tourism – Challenges and Prospects by Galt & Taggart, a Georgian-based investment bank and brokerage service company.…