The Consumer Price Index in Georgia increased by 0.9% MoM in February, while the annual inflation rate totaled 13.7%, the latest inflation data of the National Statistics Office of Georgia (Geostat) showed. “With regard to annual core inflation (excluding food and non-alcoholic beverages, energy, regulated tariffs, transport), prices increased by 5.1%, while annual core inflation…
The estimated real Gross Domestic Product (GDP) of Georgia increased by 18% YoY in January, the latest data from the National Statistics Office of Georgia (Geostat) showed. The agency also released a breakdown of the highest real GDP growth by sectors, with the most increase observed in: manufacturing, transportation and storage, electricity, gas, steam and…
Georgian lari exchange rate fluctuations have already been observed, and, more likely, will continue, Papuna Lezhava, the Vice President of the National Bank of Georgia (NBG), has said. According to Lezhava, the NBG has sufficient, adequate reserves to ensure the efficient functioning of the foreign exchange market. “Despite the use of up to $1 billion…
Georgia will allocate 1 million GEL ($315,457 or EUR 279,842) from the government’s reserve fund to assist the Ukrainian people affected by Russia’s ongoing military invasion. The relevant decree has been signed by Prime Minister Irakli Garibashvili, the government’s administration reports. The allocated money will be given to the Ministry of Internally Displaced Persons, Labour,…
Georgian experts forecast the inflation rate in Georgia to begin to “decline significantly” from March to April, Prime Minister said on February 23, adding a reduction in inflation was already observed in the final months of 2021. Garibashvili elaborated on causes of the high inflation rate in the country, naming the global pandemic as the…
Pegasus Airlines, a Turkey-based low-cost airline, is set to launch flights between Izmir and Tbilisi starting this May, the Georgian Civil Aviation Agency reports. Starting with the current summer season, the airline will carry passengers on a regular Izmir-Tbilisi-Izmir direction. The twice-a-week flights will be offered on Wednesdays and Sundays, between May 4 – October…
The Georgian National Food Agency has fined 12 veterinary facilities in the western regions of Guria and Adjara for violations in the rules of labeling, storage and sale of expired drugs and for the absence of registration documents for economic activities. A total of 49 veterinary pharmacies, clinics and pet shops were inspected by the…