Georgian economy

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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GDP of Georgia rises by 2.7%

The GDP of Georgia in 2016 amounted to $14.3 billion, exceeding the previous year’s figure by 2.7%, according to the information of the National Statistics Office of Georgia 'Geostat'. The GDP deflator was 4%. 9.9% of GDP …

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Georgia 2016: win for Georgian Dream, defeat for lari

This year in Georgia ends with the win of Georgian Dream in the fight with United National Movement and the biggest devaluation of the national currency, so the country enters 2017 in the not so holiday mood, Georgian experts said in an interview …

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Shahin Mustafayev visits Georgia

Delegation led by the Minister of Economic Development of Azerbaijan Shahin Mustafayev is on official visit to Georgia on October 27-28 to discuss prospects for economic cooperation expansion between Azerbaijan and …

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Is Georgia's economy on the rise?

The National Bank of Georgia increased its forecast for GDP growth in the country in 2016 from 3% to 3.5%, the President of the National Bank, Koba Gvenetadze, said at today's briefing. "The difficulties in …

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 World Bank raises Georgia in global income ranking

Georgian Prime Minister Giorgi Kvirikashvili said the fact that the World Bank has raised Georgia’s position in a global income ranking to reflect the increase in the average income of Georgian citizens is an important …

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Deadlock of the Georgian Military Road: view from Georgia

The issue of the Georgian Military Road, which is constantly closed due to the impact of elements, is quite acute for the Georgian government today, but the improving of the road infrastructure, as well as searching of detours is too expensive …

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Georgia bids farewell to national navy

Georgian Defense Minister Tina Khidasheli announced Georgia's inability to restore the navy of the country in the foreseeable future due to the lack of money for the purpose.  According to Khidasheli, …

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Azerbaijan becomes leader for investments in Georgia

According to the results of 2015, Azerbaijan ranked first in terms of volume of direct investments in Georgia. In total, $1.351 billion were invested in Georgia's economy in 2015 and Azerbaijan has invested $542 million, abc.az …

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