ECONOMICS
Samtskhe-Javakheti DMO, Borjomi Palace Health and Spa Center forge membership agreement
Expanding its membership base, Samtskhe-Javakheti DMO welcomed Borjomi Palace Health and Spa Center into its fold on March 22, as the latter signed the membership agreement. Nestled in the picturesque resort town of Borjomi, Borjomi Palace stands as...
Russia, Turkey, China – Georgia’s key export partners this year
In January-February 2024, Georgia’s primary export partners were Russia ($79.9 million USD), Turkey ($53.7 million USD), and China ($43.6 million USD), the National Statistics Office of Georgia said on Tuesday. The volume of goods exported from G...
Elite Technology visited by Swiss GEVEKO Markings delegation
Elite Technology has been visited by representatives of GEVEKO Markings from Switzerland. During the visit, Giorgi Mamadashvili, the founder of Elite Technology, engaged with the delegation. Discussions revolved around future collaboration plans, w...
Georgia faces $400 mln loss as Azerbaijani land border closure deters tourists
Georgian Deputy Minister of Economy Mariam Kvrivishvili stated this week since the border closure by Azerbaijan in spring 2020 due to the Coronavirus pandemic, Georgia had suffered a loss of over 1.5 million tourists, equivalent to approximately $400...
Scope Ratings downgrades JSC Lisi Lake Development’s issuer rating, revises outlook to negative
Scope Ratings, the European credit rating agency, downgraded the issuer rating of the Georgian development company JSC Lisi Lake Development to B- from B+ and revised the outlook to negative from stable. The rating agency also downgraded the seni...
Money transfers to Georgia decline in January due to reductions from Russia
In January 2024, the total amount of money transferred to Georgia experienced a decline, marking a 40.8 percent decrease compared to the same period last year, according to the latest data released by the National Bank of Georgia. The decrease in re...
Georgia comes second in wine exports to Russia in 2023
Georgia took the second spot in wine exports to Russia in 2023, as reported by Yevgeny Shcherbakov, head of the wine department at Luding Group, to the Russian government media outlet Tass. Shcherbakov revealed that Italy secured the top position i...
Harmful organisms detected in Russian potatoes imported to Georgia
Georgia’s Revenue Service on Tuesday confirmed the presence of harmful organisms in 20.91 tons of potatoes that were intended for imports to Georgia. A vehicle carrying potatoes from Russia was intercepted at the customs checkpoint Kazbegi, in the ...
Tbilisi-based Georgian Airways introduces Batumi-Moscow flights
The Tbilisi-based Georgian Airways has announced the commencement of flights from Batumi, western, coastal Georgia, to Moscow, starting April 2. Tickets for these flights are now available for purchase through the airline’s official website. Previou...
Banks in Georgia lend ₾1.46bln in December
Banks operating in Georgia lent ₾1.46 billion in December alone, official data by the National Bank of Georgia said this week. As of December 2022, the banks had lent ₾44.79 billion. The recent eviction of a family in Tbilisi due to a bank ...
