Georgian economy

Georgian citizens' debts to be annulled

The bank debt of over 600,000 Georgian citizens, including those on a so-called ‘black list’ will be written-off, Georgian Prime Minister Mamuka Bakhtadze said. "Almost 95% of debts of the …

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Georgian exports increase by 24.5%

Georgia's external merchandise trade (excluding non-declared trade) amounted to $10 305.9 million in January-October 2018, 20.5% higher year-on-year, according to Sakstat. The value of export increased by 24.5% reaching $2 751 …

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Georgia's economy grows 4%

Georgia's economy grew 4% year-on-year in the third quarter of 2018 and 4.9% in the 9 months of 2018, the National Statistics Office of Georgia (Geostat) reported. The estimated real gross domestic product (GDP) growth rate in …

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IMF completes third review in Georgia

The International Monetary Fund has completed the third review on the Extended Fund Facility approved last year under which Georgia is receiving $285.3 million over a period of 3 years.  Georgia's Prime …

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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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