ECONOMICS
January-March 2022 foreign trade surpasses 2019 data
In January-March 2022, the foreign trade turnover of goods increased compared to previous years, the National Statistics Office of Georgia (Geostat) has stated. The turnover of the first quarter of the current year is ahead not only of the data f...
Economy minister claims fuel prices to go down thanks to new contracts
Georgian Minister of Economy and Sustainable Development Levan Davitashvili stated today that the price of fuel is expected to go down soon in the country thanks to newly signed contracts. The minister has not specified with whom the contacts had b...
US, EU to unveil new sanctions against Russia today
The US and the EU are expected to unveil a new package of sanctions against Russia today, following a massacre in the Ukrainian town of Bucha which has been recently freed from Russian troops. The US sanctions will target Russian banks and offici...
Annual inflation hits 11.8% in Georgia
The annual inflation rate has hit 11.8 percent in Georgia, while the Consumer Price Index increased by 2.5 percent in March 2022 compared to the same period of the last year, the National Statistics Office of Georgia said today. The monthly inflati...
Dutch entrepreneurial development bank FMO places GEL 30 million bonds through TBC Capital
FMO, the Dutch entrepreneurial development bank, has placed GEL 30 million bonds with TBC Capital acting as a sole Lead Manager. MKD Law was engaged as a legal counsel on the transaction. The placement was fully purchased by Terabank. The Bank wil...
Viber enters Georgian market, opens office in Tbilisi
The company RakutenViber has plans to enter the Georgian market and open an operating office in Tbilisi which will be focused on mobile application development, the Ministry of Economy and Sustainable Development of Georgia has stated. Minister ...
US expected to allocate $88mln for Georgia next year
The United States has plans to allocate 88 million USD for Georgia in 2023, the draft document of the US Department of State 2023 budget reads. The document says that the funds will support Georgia’s democratic development, economic development, ...
Georgia’s economic envoy to Russia : gov’t officials not present at meeting of experts in Moscow
Georgian Prime Minister’s Special Representative in Relations with Russia, Zurab Abashidze says that none of Georgian officials attended a meeting of Georgian and Russian experts in Moscow yesterday, stating that it was a private initiative. Abas...
Georgia’s top three trading partners in Jan-Feb: China, Bulgaria, Russia
The top three trading partners of Georgia by domestic exports in January-February 2022 were China (USD 90.0 million), Bulgaria (USD 83.7 million) and Russia (USD 80.2 million), the National Statistics Office of Georgia said in its preliminary results...
Georgian farmers set to sell 200 tons of lettuce leaves to McDonalds in Russia, look for new markets
Lettuce leaves producer company GDB in the Lagodekhi region of eastern Georgia is looking for new markets as it was scheduled to sell 200 tons of lettuce leaves to McDonalds in Russia in the spring. McDonalds has closed more than 800 restaurant...
