Georgia has seen a solid economic growth over the last few years, made possible partly due to ongoing economic reforms, the EU Delegation in Georgia reports. According to the source, these reforms included overhauling tax collection procedures, fighting against corruption, opening up the country to foreign trade and investment, improving infrastructure and simplifying the business…
Georgia will be one of the first countries in the region to start negotiations on a free trade agreement with the United Arab Emirates (UAE), Georgian Economy Minister Natia Turnava has announced after the meeting in the Ministry of Economy of the UAE. “It is important that the talks will start without a feasibility study,…
Turkey ($1.28 billion), Russia ($1.01 billion) and China ($941.3 million) were Georgia’s top trading partners in total external trade turnover in January-August, preliminary data from the National Statistics Office of Georgia showed. In the reporting period Georgia’s top trading partners by exports were China ($421.8 million), Russia ($377.1 million) and Azerbaijan ($347 million), while top…
Bread price may increase by 10 tetri (3.22 cents) from October in Georgia, Malkhaz Dolidze, head of the Georgian Bread Bakers Association, has announced. He said unfavorable forecasts regarding the supply of wheat in the rural market and the reduction of stocks in Georgia might be reflected on the bread prices in a few months.…
Hungarian low-cost airline Wizz Air will resume regular flights from Kutaisi International Airport to Krakow from September 28. Wizz Air will operate flights between Krakow and Kutaisi twice a week. In total, Wizz Air will operate flights to 14 destinations in nine countries 24 times a week. “Since the resumption of regular flights, Wizz Air…
Average monthly nominal earnings in Georgia increased by 177.9 GEL (+15.5%) in the second quarter of 2021 compared to the same quarter of the previous year and amounted to 1,328 GEL (about $428.39 or EUR 362.20), the National Statistics Office of Georgia (Geostat) reported. The highest monthly earnings were observed in the following fields: financial…
Georgia has taken the 5th place among 165 countries in the world in the economic freedom annual report published by the Fraser Institute. Last year, Georgia took the 8th place among 162 countries in the same report. The report measures economic freedom based on regulation, freedom to trade internationally, size of government, property rights, government…