The Parliament of Georgia has approved an updated state budget of Georgia, which is now planned with a 7.7% economic growth forecast instead of 3.4%. In addition, the deficit has been lowered from 7.6% to 6.9% and the government’s debt has been lowered to 54.6%. “The government raises taxes by 1.11 billion GEL and boosts…
The Georgian e-commerce market is growing, as Covid-19 lockdowns have encouraged many to purchase online for the first time or increase the frequency of online purchases, while Georgian companies have been forced to expand their online offerings, says Galt & Taggart in its latest report “E-Commerce In Georgia”. “The size of the local e-commerce market…
The consumer price index increased by 0.7% MoM in June, the National Statistics Office of Georgia (Geostat) reported. The monthly inflation rate was mainly influenced by price changes for the following groups: housing, water, electricity, gas, and other fuels (+2.7%), recreation and culture (+1.6%), restaurants and hotels (+1%), transport (+0.4%) and food and non-alcoholic beverages…
Prime Minister Irakli Garibashvili called the new daily rate of coronavirus infections alarming and stated that Georgia would not endure another lockdown. “Our country can no longer endure another lockdown. If we have to close the country again later, people will lose their jobs and an unbearable situation will be created. I want to make…
The International Monetary Fund (IMF) projects the Georgian economy to grow by 7.7% in 2021, “a significant upgrade from just a few months ago, which implies that output will exceed its 2019 level this year”, reads a concluding statement of the IMF staff at the end of an official visit in Georgia. The IMF statement…
Georgia’s external trade turnover amounted to $6.2 billion in January-June, up by 20.7% YoY. The value of exports increased by 25.2% and totaled $1.88 billion, while imports increased by 18.9%, to $4.32 billion. The trade deficit of Georgia in January-June amounted to $2.44 million, or 39.3% of total trade turnover. In the reporting period Georgia’s…
Construction of 28 buildings of the Army City, launched in October of 2020, has been completed on the Mount Makhata. Prime Minister Irakli Garibashvili, who visited the Army City, said the government was “doing everything to provide our servicemen with decent conditions” and to ensure the “security guarantees for them”. The Army City project, with…