The grape harvest started early in the Georgian wine region of Kakheti after heavy hail and wind destroyed 4,600 ha of vineyards in about 30 villages last week. Farmers are picking hail-damaged grapes in the towns of Kvareli, Gurjaani, Lagodekhi and Telavi in Kakheti. So far about 1,200 tons of grape has already been processed.…
Commercial banks in Georgia lent 39.60 billion GEL and received deposits of 35.12 billion GEL in July, the latest data by the National Bank of Georgia (NBG) showed. The amount of deposits increased by 1.72% MoM, while loans by 0.98%. Last month, the sum of term deposits (deposits made for a predetermined period of time)…
Construction of a new road that will connect Mestia, a highland town of the Georgian region of Svaneti, to Lentekhi, a central town of Lentekhi district in Racha-Lechkhumi, and the Kvemo Svaneti region will be completed in 2023, Prime Minister Irakli Garibashvili has announced while meeting with locals in Svaneti. He said that 100 million…
European Council President Charles Michel has tweeted that the deadline for disbursement of macro financial assistance is looming and “it is time for the Georgian government to demonstrate its commitment to the agreements and notably the reform agenda”. Michel’s tweet comes after a meeting with Georgian PM Irakli Garibashvili during the Crimea Platform forum in…
Trade turnover between Georgia and Azerbaijan from January through July amounted to $586.89 million, up by 9.17% or by $49.34 million YoY, the National Statistical Office of Georgia reported. During this period, Georgia’s imports from Azerbaijan amounted to $291.55 million, down by 1.8%. The share of Azerbaijan in the total Georgian import amounted to 5.6%.…
The leading investment bank in Georgia Galt and Taggart revised 2021 growth upwards to 8.6% in Georgia. “The recovery has gained impressive traction since April,” says the recent report pointing at figures. The real GDP growth came in at 29.8% YoY in Q2 after shrinking by 4.5% in Q1. As a result, the economy expanded…
Georgia’s external trade turnover amounted to $7.48 billion in January-July, up by 21.7% YoY, preliminary data from the National Statistics Office of Georgia (Geostat) showed. The value of exports increased by 27.8% and totaled $2.27 billion, while imports increased by 19.3%, amounting to $5.20 billion. The trade deficit of Georgia in January-July amounted to $2.93…