In order to ensure the consistent and continuous development of the Georgian army, a higher defense budget has been outlined for the coming year. The parliamentary committee on defense and security discussed the 2022 state budget. The 2022 budget to be distributed among defense agencies is as follows: Ministry of Defense – 918 million GEL…
Georgia’s external trade turnover amounted to $10 billion in January-September, up by 22.3% YoY, preliminary data from the National Statistics Office of Georgia (Geostat) showed. The value of exports increased by 24% and totaled $2.98 billion, while imports increased by 21.6%, amounting to $7.02 billion. The trade deficit of Georgia in January-September amounted to $4.04…
Georgia exported 65 million bottles of wine to 59 countries in January-September, up by 12% YoY, the Georgian National Wine Agency reported. By selling wine abroad Georgia generated $168 million. Revenues increased by 11%. The top five countries that imported Georgian wine in January-September were: Russia – 43,350,901 bottles (+7%), Ukraine – 8,609,575 bottles (+8%),…
The 30% growth of Ukraine-Georgia trade turnover over January-June testifies to friendly relations. “The trade turnover between Ukraine and Georgia grew by almost 30% over the first half of 2021, clearly testifying to friendly relations between our countries,” Prime Minister of Ukraine Denys Shmyhal posted on Twitter. He also expressed gratitude to Georgian Parliament Speaker…
Georgia is leading the South Caucasus region with a projected rebound of 8% this year, says the latest edition of the World Bank’s Economic Update for the region. “Georgia’s recovery is expected to edge down to 5.5% in 2022 and 5% in 2023, as macroeconomic support continues to be removed”, reads the report. The World…
The Georgian government has allocated 14 million GEL in subsidies to assist in the harvesting of grapes damaged by heavy hail in the wine region of Kakheti on August 27 and September 2. The government is also subsidizing the 2021 grape harvest to financially support farmers during the pandemic. In August, heavy hail and strong…
In September, the consumer price index increased by 0.2% MoM, while the annual inflation rate amounted to 12.3%, the National Statistics Office of Georgia (Geostat) reported. “With regard to the annual core inflation, the prices increased by 6.3%,” Geostat says. The monthly inflation rate was mainly influenced by price changes for the following groups: education…