Production of perennial crops in Georgia has increased by 33% in recent years and amounted to 600,000 tons, Otar Shamugia, the Agriculture Minister of the country, has said. Shamugia further noted in 2021 a new perennial garden had been planted on more than 3,600 hectares under the Government program Plant the Future, adding the resulting…
A EUR 1.3-million twinning project on road safety has come into effect in Georgia under the European Union (EU) assistance, the Economy Ministry reports. The project supporting the Establishment of Comprehensive Road Safety Database and Further Improvement of Road Safety Management in Georgia aims to contribute to the establishment of European practices in the field.…
Air Arabia, an Emirati low-cost airline, will resume flights to Georgia on July 16, Tbilisi and Batumi International Airports (TAV Georgia) report. The airline will operate flights on Abu Dhabi – Tbilisi – Abu Dhabi route three times a week. Air Arabia launched its first flight to Tbilisi International Airport in July 2021. (Trend/Business World…
The estimated real Gross Domestic Product (GDP) of Georgia increased by 14.6% YoY in February, while the average real GDP grew by 16.3% in January-February, the latest data from the National Statistics Office of Georgia (Geostat) showed. The largest share of GDP growth was posted in the following sectors: manufacturing, transportation and storage, electricity, gas,…
Georgia’s gross external debt reached $21.8 billion as of December 31, 2021, accounting for 116.8% of its 2021 annual gross domestic product (GDP), the National bank of Georgia (NBG) announced. In the fourth quarter of 2021, the gross external debt of Georgia increased by $775.7 million. In the public sector, the external debt was $10.7…
The Georgian Parliament approved a bill on Consumer Protection in a third reading with a total of 79 votes on March 29. The newly adopted bill establishes rules for consumer protection and prohibits “unfair commercial practices” that violate the values of “trust and good faith”. Nino Iobashvili, the Deputy Chair of the Parliament’s Committee on…
Construction companies in Georgia will be offered a state package for long-term financing plans to boost the sector, Georgian Prime Minister Irakli Garibashvili announced on March 28. Announcing the initiative that would offer the developer companies new financing plans within the upcoming week, the PM said it was aimed at boosting economic growth. Additionally, a…