Commercial banks in Georgia loaned GEL 44.87 billion ($17.9 billion) and received deposits of GEL 43.34 billion ($17.3 billion) in March, the latest data from the National Bank of Georgia showed. The volume of loans increased by 0.93% MoM, while the number of deposits decreased by 0.62%. Last month, the volume of term deposits increased…
Buying a flat or a house in the Georgian capital of Tbilisi became more expensive in the first quarter of the year, the latest Residential Property Price Index of the National Statistics Office of Georgia showed. Released on April 24, the Index pointed to a 9.3% increase in prices for flats and 11.6% for houses…
The International Monetary Fund’s updated forecast, projecting the “highest” economic growth for Georgia – 5% average – among the countries of the wider region and Europe, in the medium term between 2023 and 2028 was discussed on April 22 by the Georgian Government’s Economic Council, led by Prime Minister Irakli Garibashvili. The council highlighted Georgia’s…
Turkey ($673.7 million), Russia ($666.9 million) and China ($376 million) were the top trading partners of Georgia in its total external trade turnover between January and March, preliminary data from the National Statistics office of Georgia showed. Georgia’s top partners by exports were the USA ($216.9 million), Azerbaijan ($180.7 million) and Russia ($176.9 million), while…
Georgian Infrastructure Minister Irakli Karseladze on April 18 said the landslide risks observed last month on the kilometre 149 section of the Rikoti Pass, a major crossing between the western and eastern parts of the country, had not been caused by the construction works on a new highway through the pass. Karseladze was commenting on…
Economy Minister Levan Davitashvili on April 18 said implementation of the Maritime Single Window, a system for digital exchange of information used by ports for arrival, stay and departure of ships, would make Georgia “even more attractive” as a logistics hub. Speaking at the opening meeting of Digital Ports I, a programme, which included the…
Georgia’s three international airports serviced 1,050,864,506 passengers in January-March, up by 33% YoY and by 3% from Q1 2019, the Georgian Civil Aviation Agency reported. Between them, the three facilities serviced the following numbers of passengers: Tbilisi International Airport – 713,660 passengers, up by 41%, Kutaisi International Airport – 253,073 passengers, up by 108%, and…