Georgian economy

IMF praises economic activities of Georgia

An International Monetary Fund (IMF) team, led by Mercedes Vera-Martin, has concluded its visit to Georgia, which was held during August 21-27 to discuss recent economic and financial developments and progress with structural …

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What will Georgia face under PM Bakhtadze?

Candidate for Georgia's Prime Minister Mamuka Bakhtadze has presented the governmental program ‘Freedom, fast development, prosperity.’ In his speech Bakhtadze talked about how his new government sees …

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Georgia's external trade increases by 16% this year

Georgia's external merchandise trade amounted to $1 683.5 million in January-February 2018, excluding non-declared trade (16.3% higher year-on-year), according to GeoStat. The exports equaled $446.4 million (25.5% higher), …

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Fitch revises outlook on Georgia to positive

Global rating agency Fitch Ratings revised its outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the rating at BB-, citing favorable growth prospects.  The …

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Georgia’s economic growth slows down to 4.4%

Georgia’s economy slowed down to 4.4% growth in the first month of 2018 from 5.2% in January 2017, according to the latest data from the National Statistics Office of Georgia (Geostat). In January 2018 the estimated real Gross …

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Turkey widens free trade agreement with Georgia

Georgia and Turkey have agreed to widen an existing free trade agreement, so Georgian producers will soon be able to increase export volume to Turkey by 20%. The final round of negotiations was held Ankara, where delegations of …

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IMF mission sums up results of its visit to Georgia

Georgia’s economic activity performed better than expected, with the economic growth of 4.8% in 2017, according to the International Monetary Fund mission, which visited Georgia last week to discuss recent economic and financial …

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Georgia's state budget 2018 approved

Georgia’s state budget for 2018 will be 12 billion GEL, which is 943.8 million GEL more compared to 2017. Georgia's Parliament approved the financial document with 111 votes yesterday. While presenting next …

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Refinancing rate increased in Georgia

The National Bank of Georgia (NBG) has decided to increase its refinancing rate in response to expectations of increased inflation. The Monetary Policy Committee (MPC) of the bank increased the refinancing rate by 25 basis points to …

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 IMF gives Georgia budget 2018 recommendations

The International Monetary Fund recommended the Georgian government to reduce capital spending, including in wages of officials. According to the First Review of the Extended Arrangement under the Extended Fund Facility for …

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GUAM countries to create free trade zone

The foreign ministers of the member countries of the Organization for Democracy and Economic Development (GUAM), comprising Georgia, Ukraine, Azerbaijan and Moldova, participated in a ministerial meeting in Georgian capital of Tbilisi today …

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Georgia's GDP increases by almost 5%

Georgia's economic growth increased by 4.9% in six months of 2017, the National Statistics Office of Georgia 'Geostat' said. In the first quarter of this year the GDP increased by 5.1%, in the second quarter - …

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World Bank to help Georgia to carry out reforms

The World Bank will provide Georgia with a loan of 47.2 million euros for economic development. Money will be allocated in the framework of Second Inclusive Growth Programmatic Development Policy Operation for Georgia – DPO-2. …

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Georgia's economy increasing

Georgia's economy grew by 5% in the first quarter of 2017 in comparison with the same period last year, the National Statistics Service of Georgia said. Economic growth in March 2015 was 5.3% in comparison with the same period last …

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IMF allocates $285.3 million to Georgia for reforms

Georgia will get $285.3 million in the next three years from the International Monetary Fund (IMF) to carry out a package of economic reforms in the country. "The IMF Executive Board approved a three-year extended arrangement under …

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