About 70,000 tons of grapes of various varieties have been processed as part of the ongoing harvest in Georgia’s eastern winemaking region of Kakheti. The harvest has been processed by 150 wine companies and cellars, with about 7,000 growers handing in their grapes to private wine enterprises this year. As of September 16, over 300…
Average monthly nominal earnings in Georgia increased by GEL 213.3 (about $75) in the second quarter of 2022 compared to the same period of the previous year, marking a 16.1% increase, to GEL 1.541 (about $544), the national statistics office of Georgia said on September 15. The highest monthly earnings were observed in the following…
Georgian Prime Minister Irakli Garibashvili and Ahmed Ali Al Sayegh, the State Minister of the United Arab Emirates for Economy and Trade, on September 13 announced talks on a free trade agreement between the two countries following their meeting in Tbilisi. The talks are starting this month in a bid to improve the current trade…
Georgian Prime Minister Irakli Garibashvili on September 12 announced amendments to the country’s budget bill to reduce its foreign debt to 40% of the gross domestic product, and budget deficit to 3.2% of the GDP, crediting the “unprecedented, double-digit” economic growth for enabling the moves. Speaking during the cabinet meeting, the Government head said the…
Passenger flow at Tbilisi International Airport recovered by 92% compared to the pre-pandemic 2019 figure in August, TAV Georgia, the company operating two major airports in the country, said on September 12. In further details, TAV Georgia said the airport serviced 363,830 passengers in August, up by 48% YoY. Figures for Batumi International Airport in…
Foreign direct investments in Georgia totaled $351.8 million in the second quarter of 2022, up by 9.1% YoY, the National Statistics Office of Georgia reported in its latest figures on September 8. Geostat said an increase in equity, reinvestment of earnings and debt instruments had been the main reason for the growth in FDI, with…
The head of the National Bank of Georgia Koba Gvenetadze has been nominated among the best central bankers of 2022 for the fifth year in a row by Global Finance, a leading monthly financial magazine. Gvenetadze, who became the chairman of the bank in 2016, earned one of the three highest grades – “A-” in…