The International Monetary Fund has approved a three-year $280-million Stand-By Arrangement for Georgia aimed at financial resilience and growth. The programme focuses on rebuilding fiscal buffers, strengthening fiscal frameworks, reducing external vulnerabilities and inflation, maintaining financial sector resilience and fostering stronger and more inclusive growth for the country. The Executive Board of the IMF decided…
A 240-metre glass bridge with a suspended cafe has been unveiled for visitors of southern Georgia’s Dashbashi Canyon, with the brand-new infrastructure set to receive tourists starting tomorrow. Launched in a GEL 120-million ($40.8 million or EUR 39 million) investment from Israeli company Kass Land, the bridge spans across the canyon with a “diamond-shaped” cafe…
Georgia exported a record $504 million of goods in May, up by 48% YoY, preliminary data from the National Statistics Office of Georgia showed. Georgian exports this year have been distributed as follows: January – $331 million, February – $429 million, March – $411 million, April – $416 million and May – $504 million. The…
A Georgian-Polish enterprise Delta WB will begin producing Georgia-made unmanned aerial vehicles until the end of the year, Defence Minister Juansher Burchuladze has said. During his address to MPs at the Parliament, the official said the enterprise, which had already been established, would also produce “suicide” and reconnaissance drones in the country. He further noted…
Georgian spicy sauce ajika and sour plum sauce tkemali will acquire geographical indications – a domestic status confirming their origin and uniqueness, the National Intellectual Property Centre of Georgia has announced. The agency said the two sauces would gain the status in three months following the publication of application materials submitted for registration by the…
Introduction of a Port Community System in Georgian ports will improve the management and automation of their facilities and logistics processes, facilitate inter-agency coordination, and significantly reduce administrative requirements and bureaucracy, a feasibility study conducted by an Estonian-German-Georgian consortium has said. The consortium has analysed the benefits Georgia would receive after implementing the PCS, which…
Georgia’s cooperation with the International Finance Corporation, the ongoing and future financial projects and their impact on the country’s economic development were discussed in a meeting between Levan Davitashvili, the Georgian Economy Minister, and Ivana Fernandes Duarte, the Regional Director of IFC. The meeting focused on the financial support of the IFC for the development…