Inflation in the Georgian economy will remain close to the target in the middle of 2023 “if there are no shocks”, Archil Mestvirishvili, the Vice President of the National Bank of Georgia, said on June 6 at a meeting of the Sector Economy and Economic Policy Committee in Parliament. Mestvirishvili noted inflation would be close…
The turnover received by the Georgian business sector increased by 33.2% YoY and amounted to GEL 38.6 billion (about $12.95 billion or EUR 12.05 billion) in the first quarter of 2022, the latest data published by the National Statistic Office of Georgia showed. The trade sector (including repair of motor vehicles and motorcycles) had the…
Uncertainty over macroeconomic trends is high amid the Russia-Ukraine war, but Georgia’s financial system is ready to withstand stress, the National Bank of Georgia has said. “The banking sector remains resilient even in the face of severe and extreme risk scenarios. Despite the possible losses, the existing capital buffers allow for their absorption,” the NBG…
A total of 12 types of Georgian wine have been exported to Qatar since May 27, marking the first batches of Georgian wine export to the country, the Georgian National Wine Agency reports. As a result of the cooperation between the Embassy of Georgia in Qatar and the country’s Distribution Company, Georgian wine will soon…
Georgia has “great potential” for strengthening global energy security with the prospect of acting as a bridge between the energy markets of Europe and Central Asia, David Songhulashvili, the Chairman of the Parliamentary Committee on Sectoral Economics and Economic Policy, has said. During a committee meeting in the western city of Zugdidi, Songhulashvii highlighted the…
The Georgian Government will spend GEL 32 billion (about $11 billion or EUR 10 billion) over the next 10 years in developing infrastructure and raising living standards of citizens, Irakli Karseladze, the Minister of Regional Development and Infrastructure, has said. Speaking in the Minister’s Hour format at the Georgian Parliament, Karseladze said the construction of…
Georgian Prime Minister Irakli Garibashvili and Yasushi Kinoshita, the Chairman of the Development Bank of Japan, met on May 24 as part of the World Economic Forum in Davos to discuss the recently signed business agreement between the two states, the Government Administration said. At the meeting, Garibashvili and Kinoshita reviewed the agreement on liberalisation,…