ECONOMICS
TBC Bank joins Marco Polo Network
TBC BANK, the largest financial institution in Georgia and Commerzbank, one of the leading trade banks globally, have – for the first time in the region – successfully executed the necessary data transfers to complete two commercial transactions via ...
Georgian businessman losses $1.7bln due to unrest in Kazakhstan
Mikheil Lomtadze, a Georgian businessman in Kazakhstan, has lost $ 1.7 billion amid ongoing unrest in Kazakhstan. His property was reduced by about 32%, Forbes reports. At the moment, the Georgian businessman’s fortune is $ 3.5 billion and he is 95...
Annual inflation hits 13.9% in Georgia
In December 2021 the Consumer Price Index increased by 0.3 percent compared to the previous month, while the annual inflation rate amounted to 13.9 percent, the National Statistics Office of Georgia (Geostat) says. Geostat states that with regard t...
Parliament approves 2022 state budget
The Georgian parliament has approved the 2022 state budget earlier today with 78 votes for and one against in the 150-member state legislature. The macroeconomic parameters of the budget are as follows: GDP growth is expected at 6% and stands at ...
EU, EIB invest 34mln euros in fast internet connection for rural Georgia
The European Investment Bank, the Bank of the European Union, will invest up to EUR 34 million in expanding a high-speed internet network bringing fast and reliable internet services to some 500,000 Georgians living in 1000 rural and remote settlemen...
Finance minister says Georgia will need at least 4 years to decrease external debt to 40% of GDP
Georgian Finance Minister Lasha Khutsishvili says that the country will need four-five years to decrease the country’s external debt to 40 percent of the Gross Domestic Product. PM Irakli Garibashvili stated earlier this month that the Georgian gov...
EU confirms 12,75 mln euros in support for Georgia’s defence
The European Union has confirmed 12.75 million euros in financial support over a period of 36 months for Georgia to strengthen the capacities of its defence forces, including their ability to provide services to civilians in crises or emergency situ...
PM Garibashvili: budget for social rehabilitation, childcare to reach 52mln GEL in 2022
Georgian Prime Minister Irakli Garibashvikli says that the budget for social rehabilitation and childcare is growing every year, to make up 37.4 million GEL last year and 40 million GEL this year, and expected to reach 52 million GEL next year. “Th...
Annual inflation rate increases to 12.5% in November in Georgia
The Georgian National Statistics Office says that in November 2021 the Consumer Price Index increased by 0.6 percent compared to the previous month, while the annual inflation rate amounted to 12.5 percent. With regard to the annual core inflation, t...
Georgian cities of Kutaisi, Poti, Zugdidi to receive € 30,000 in grants from EU to prepare cultural development strategies
The Georgian cities of Kutaisi, Poti and Zugdidi will receive grants of up to 30 000 euros to prepare city cultural development strategies thanks to the EU-funded project – EU4Culture. At an event earlier this week,Catalin Gherman, Deputy Head of C...
