Commercial banks in Georgia loaned 43.25 billion GEL ($13 billion or EUR 12 billion) and received deposits of 37.63 billion GEL ($11 billion or EUR 10 billion) in February, the National Bank of Georgia (NBG) reported. The volume of loans has increased by 1.09 billion GEL (2.58%) MoM. The number of deposits increased by 856.15…
The Construction Cost Index in Georgia increased by 13.6% in the fourth quarter of 2021 compared to the same period of the previous year, the National Statistics Office of Georgia (Geostat) announced on March 24. The increase in construction cost was mainly influenced by price changes for the following groups: construction materials – 9.64%, wages…
The Hungarian budget airline WizzAir will carry passengers on regular flights from the western Georgia’s Kutaisi International Airport to Italy’s capital Rome starting from March 28, United Airports of Georgia said on March 23. WizzAir will launch once-a-week flights between the cities. Starting from March 28, tourists traveling from Georgia to Italy must present an…
Industrial production of wind power plants in Georgia is set to begin following the signing of a memorandum between the country Economy Ministry, the State Military Scientific Centre Delta and Georgian Wind Energy Association on March 23. Production of wind energy power plants, creation of new jobs, integration of wind power into the energy infrastructure…
The refinancing rate in Georgia is predicted to increase in March, the Managing Director of Galt & Taggart investment bank Otar Sharikadze has said. According to Sharikadze, the National Bank of Georgia (NBG) will increase the refinancing rate by 1-1.5% at the next meeting of the Monetary Policy Committee of the NBG scheduled for the…
Georgia’s wine export growth rate reached more than 40% in January-February, the Georgian Agriculture Minister Otar Shamugia said on March 21, adding the figure reflected the “purposeful policy” of the Georgian Government. Shamugia noted exports of agricultural products were increasing as well, pointing out the state’s support for market diversification, and saying the list of…
The foreign direct investments (FDIs) in Georgia in 2021 amounted to $1.1 billion, up 2-fold YoY, the National Statistics Office (Geostat) reported. In particular, the FDIs in Georgia in the fourth quarter of 2021 amounted to $411.3 million, up by 35.3% QoQ. Meanwhile, the re-investments in total FDIs in Georgia in 2021 amounted to $760.5…