Georgia’s export of peaches and nectarines fell by 5.4 thousand tons in May-July, marking a 24% reduction that also equalled a $1.3-million decrease in the export value, the Agriculture Ministry announced on August 1. The ministry said the decline – representing a decrease of 6% in the export value compared to the same period of…
Fitch Ratings, a global financial ratings firm, has affirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating status at a BB level, with a “stable” outlook for the country’s financial developments. The international credit rating agency said Georgia’s rating was underpinned by “a credible and effective policy framework and stronger governance indicators” relative to peers with the…
The Georgian economy grew by 7.2% in June and by 10.5% in the first six months of 2022, the latest data from the National Statistics Office of Georgia showed. Last month the estimated real growth was observed in the following activities: transportation and storage; electricity, gas, steam and air conditioning supply; information and communication; hotels…
The automobile road leading to northeastern Georgia’s picturesque and remote Tusheti highland region is set to be rehabilitated and modernised to make travel easier and safer for both visitors and farmers. The Ministry of Infrastructure of Georgia announced on July 28 that the project would be completed gradually in 2025 and GEL 100 million ($34…
Lithuanian airline GetJet will resume flights in Georgia by offering multiple charter connections between the Baltic States and the country, Deputy Economy Minister Mariam Kvrivishvili has announced. Kvrivishvili said the Baltic States had been “one of the important” tourist markets for Georgia and noted the Government “actively worked” to increase the awareness of the country’s…
Rehabilitation of roads continues in western Georgia, where about 600 kilometres of roads are planned to be updated this year, the Infrastructure Minister Irakli Karseladze said on July 26. Karseladze said that rehabilitation of an 11-km section of Gomi-Sachkhere-Chiatura road would be completed in September. In addition, works are underway in 16 different parts of…
Commercial banks in Georgia loaned GEL 43.65 billion ($14.85 billion) and received deposits of GEL 38.27 billion ($13.02 billion) in June, the latest data from the National Bank of Georgia showed. The volume of loans increased by 1.24% in June compared to the previous month, while the number of deposits increased by 3%. Last month,…