Economic issues
The Dutch low-cost carrier starts flights from Tbilisi to Amsterdam in April
TBILISI, DFWatch–Dutch low-cost airline, Transavia, is starting to operate in the Georgian market. Tickets can currently be purchased on the company's website for flights from late April. During the summer navigation season of 2024, the airline will fly in the Amsterdam-Tbilisi-Amsterdam direction. However, the company has a connection service, through which it is possible to fly [...]
Remittances from Russia almost halved in August: NBG
TBILISI, DFWatch – The number of remittances from Russia to Georgia in August decreased by 45.5 percent compared to last year and amounted to $60 million, although this country is still the leader and accounts for about a fifth of the total volume, according to the release published by the National Bank of Georgia on Friday. In [...]
Georgian tourism industry booming, revenues reach record high
(gnta.ge) Revenues from international visitors are at a record high this year in Georgia. According to the information published by the National Bank of Georgia, the country received $476 million in income from international visitors in July, which is almost $270 million more than the same figure of July last year. In total, the country received [...]
A field of natural gas discovered near Tbilisi
A natural gas field with a volume of 16 billion cubic meters has been discovered near Tbilisi, said Giorgi Tatishvili, the head of the State Oil and Gas Agency, speaking to BMG. "To imagine, this is equal to the consumption of Georgia for 8 years," Tatishvili said. This gas reserve was discovered by the French oilfield [...]
Georgia’s economy minister expects a sevenfold increase in flights this month as Covid-19 restrictions on air travel are lifted
(Avianews.ge) TBILISI, DFWatch--Georgia expects air traffic to increase sharply as Covid-19 related restrictions on regular flights are lifted, to reach a level this month seven times what it was in August last year. By summer, the number of flights per week may reach 200, a 20-fold increase, the Minister of Economy Natia Turnava said Thursday at [...]
Georgia’s main electricity provider announces price hike in midst of pandemic
TBILISI, DFWatch--At the end of a difficult year with families struggling to get through a pandemic, Georgia’s largest electricity provider announced a price hike that risks causing major discontent. On Monday, the CEO of Energo-Pro Georgia, which in 2016 controlled 62% of the country’s energy distribution, said an increase in electricity tariffs was inevitable. "The existing [...]
Georgia’s parliament approves immediate halt in sale of farm land to foreigners
TBILISI, DFWatch–The Georgian parliament decided Friday to declare a temporary ban on the sale of agricultural lands to aliens until a constitutional ban comes into force. 87 MPs voted in favor of the amendment to the Law on Ownership of Agricultural Land, amid fierce pressure […]
Georgia’s auto park continued 8% growth trend in 2016
TBILISi, DFWatch–The number of cars in Georgia grew 8 percent in 2016, continuing a trend of steady expansion of the nation’s auto park of mostly older vehicles. The growth in 2016 was to 1,125, which is 8 percent, with German carmakers retaining their leading positions. […]
State Oil and Gas Company Spending Questioned
Georgia Oil and Gas Corporation building on Kakheti av. (Ifact.ge) Between 2012 and 2014, the Georgia Oil and Gas Corporation (GOGC) spent 3.8 million lari (about $US2.26 million) to finance patrols watching to make sure nobody was stealing gas from oil or gas pipelines. […]
Wizz Air launches low-cost flights between London and Kutaisi
TBILISI, DFWatch–Hungarian low-cost airline Wizz Air is launching cheap flights between London Luton and Kutaisi, a city in the western Imereti region of Georgia. United Airports Georgia announced the direct flights Kutaisi-London-Kutaisi two times per week, on Thursdays […]
Gazprom deal threatens Georgia’s fundamental interests, president warns
TBILISI, DFWatch–Georgian President Giorgi Margvelashvili views a controversial deal recently struck between the Georgian government and the Russian-owned energy giant Gazprom as less favorable than the previous agreement, and ‘harmful’ to the political and economic […]
Influx of visitors to Georgia jumped 8 % in 2016
TBILISI, DFWatch–Almost 6.3 million people visited Georgia from abroad in 2016. This is 7.9 percent more than last year, the head of Georgian National Tourism Administration announced on Tuesday. Out of the total number, over 2.7 million stayed in the country for 24 hours or longer […]
Two Georgians jailed accused of USD 25 million microfinance fraud
(Interpressnews.) TBILISI, DFWatch–Tbilisi City Court on Sunday ordered the pre-trial detention of two Georgians who are suspected of embezzlement of more than USD 25 million from thousands of microfinance customers. The court rejected a motion to release the accused […]
Government deal to soften impact of currency drop on mortgage lenders
(Interpressnews.) TBILISI, DFWatch–The Georgian government offers a temporary aid package to people who have their mortgage loans in US dollars, to ease the disastrous consequences of the lari’s continued race to record low depths. The decision was made at a […]
Plans revived for Trump Tower in Batumi, Georgia
Donald J. Trump. (Interpressnews.) TBILISI, DFWatch–Plans for a Trump Tower on Georgia’s Black Sea coast are being revived, after laying dormant for the last five years. Newly elected US President and businessman Donald Trump visited Batumi personally in 2012 and later praised Mikheil Saakashvili […]
Money transfers to Georgia up 14% in October year-on-year
(Interpressnews.) TBILISI, DFWatch–The flow of money into Georgia grew by 14 percent in October, according to the latest monthly report by the National Bank. The money flow into the country was USD 102.5 million, USD 12.6 million more than in October 2015. 91.9 percent of transfers […]
Georgian lari tanking, on course for second record low this year
(Interpressnews.) TBILISI, DFWatch–The Georgian lari is on course for a new historic low, after setting a record earlier this year at 2.4921 laris per US dollar. Today it is valued at 2.4899. Prime Minister Giorgi Kvirikashvili explained the new drop in the value of the lari is as a result of growing imports. […]
First road, now airport – PM promises to develop mountain region Tusheti
PM Giorgi Kvirikashvili visiting Tusheti in August. (Interpressnews.) TBILISI, DFWatch–Two months after promising to build a new road to Tusheti, Prime Minister Giorgi Kvirikashvili now suggests building an air strip in the inaccessible region in the northeast of the country. It’s an attractive tourist destination, but difficult to access. […]
Georgian Railways considering Tbilisi-Kutaisi airport train
Kutaisi airport. (Interpressnews.) TBILISI, DFWatch–Georgian Railways is considering creating a new train line connecting the airports in Tbilisi and Kutaisi, with regular departures. Spokesperson Dachi Tsaguria told Kutaisi Post that Georgian Railways is currently researching whether the new […]
Georgian developers plan Sheraton and Radisson in Gudauri
(Interpressnews.) TBILISI, DFWatch–Georgia’s winter resort Gudauri had 127% growth in visitors since last year. Now developers plan a Radisson and a Sheraton hotel there. Malkhaz Kunelauri from the real estate company RED-CO told journalists that the first phase of the planned new hotels […]
Caucasus rail-link to help Iranian companies establish foothold in Europe
TBILISI, DFWatch–Georgian Railway is in talks about increasing rail freight between Iran and Bulgaria through Georgia. The target group of the plan is Iranian investors looking to establish a foothold in the European market. Through using the railway connection […]
Georgia secures free trade deal with China
TBILISI, DFWatch–Georgia has secured a free trade agreement with China which is expected to boost Georgia’s export of wine. The agreement, which still needs to be confirmed formally, will exempt goods and services that were previously charged more than 40 percent […]
Azerbaijan committed to the Southern Gas Corridor: Baku official
TBILISI, DFWatch–Despite the falling oil price, Azerbaijan has confirmed its commitment to the implementation of large-scale projects like the Southern Gas Corridor, Azerbaijan’s Deputy Energy Minister Namig Abbasov said at a conference […]
Grape harvest begins in Georgia’s wine region Kakheti
TBILISI, DFWatch–This year’s grape harvest has begun in Georgia’s eastern Kakheti region. More than 1,850 tons of rkatsiteli grape and more than 1,110 tons of saperavi has been processed in Dedoplistskaro. Wine producing companies pay 80 tetris for saperavi, […]
200 tons of produce enters Akhalgori every day
Mosabruni, or Razdæxæn, checkpoint. (RES.) TBILISI, DFWatch–Every day, about 200 tons of agricultural products is brought from Georgia into the Akhalgori district of South Ossetia, Sputnik Ossetia reports. Akhalgori is a part of the breakaway region which was under Georgian control until the war in 2008. Many people cross […]
Foundations being laid for second terminal at Tbilisi airport
Prime Minister Giorgi Kvirikashvili (right) at the launch of construction work. (Interpressnews.) TBILISI, DFWatch–The construction of the second terminal building at Tbilisi International Airport is proceeding as planned. Currently, the foundation is being laid, a spokesperson for the airport told DFWatch. The need for a second terminal is evident in the steady […]
Direct foreign investments in Georgia down 11% in 2015
(Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia was 11 percent less in 2015 than in 2014, according to precise data published Monday by Georgia’s National Statistics Department, GeoStat. According to the report, the amount of investments […]
Russian lawmakers demand punishment of Georgia for joining EU sanctions
Ian Zelinsky represents the far-right LDP party, which is led by Vladimir Zhirinovsky. (zelinski.info) TBILISI, DFWatch–A group of lawmakers in the Russian Duma are preparing to demand that the Kremlin take punitive measures against Georgia for joining the European Union’s economic sanctions against Russia. The Duma’s foreign relations committee is working […]
Georgia notes 18% rise in number of tourists in first half of 2016
(Interpressnews.) TBILISI, DFWatch–The number of foreign visitors to Georgia went up 12.9% and the number of tourists 18.1% in the last six months, the National Tourism Administration said on Monday. The latest figures confirm that Georgia continues to attract more visitors. […]
UAE signs USD 32 million contract with Georgia’s Delta
Former President Mikheil Saakashvili inspecting a Lazika infantry combat vehicle in 2012. TBILISI, DFWatch–The United Arab Emirates has signed a contract to buy military equipment worth USD 32 million from the Georgian state-owned company Delta. Delta’s former director Ucha Dzodzuashvili said the first batch of equipment […]
Georgian businessman to open McDonald’s in Armenia
Temur Chkonia (right) discussing the opening of a new McDonald’s in Rustavi earlier in 2016. (Interpressnews.) TBILISI, DFWatch–A Georgian businessman may open the first ever McDonald’s restaurant in rival Armenia, Sputnik Armenia reports. The news agency reports that the opening of the first of the chain’s restaurants in Armenia was decided at a meeting […]
Foreign investments in Georgia in Jan-Mar: up 103% from 2015
(Interpressnews.) TBILISI, DFWatch–Georgia’s direct foreign investments in the first quarter of 2016 was 103 percent more than in the same period last year, Georgia’s National Statistics Office writes in a preliminary report. Investments in the first quarter amounted to USD 376 million. […]
Georgian Manganese loses lawsuit over GEL 200 million tax penalty
(DF Watch.) TBILISI, DFWatch–The company Georgian Manganese, which owns manganese mines in Chiatura and a ferro-alloy plant in Zestaponi, lost a court case against the government on Tuesday and must pay a 200 million laris (USD over 88.2 million) tax penalty […]
Car dealers demonstrate against ban on right-hand drive vehicles
Rustavi car market. (Interpressnews.) TBILISI, DFWatch–Car dealers demonstrated in Rustavi on Friday against the government’s initiative to ban the registration of cars with right-hand drive from 2017. The protest took place at Georgia’s largest car market, located in Rustavi, […]
Gori wind farm expected to start producing electricity in December
TBILISI, DFWatch–Construction of wind a farm in Gori, 80km west of the capital, will be completed by the end of 2016, according to the Energy Ministry. Deputy Energy Minister Irakli Khmaladze said the power station […]
Georgia’s foreign trade Jan-Feb down 2%
Rustavi used car market. (Rustavi.ge.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first two months of 2016 was 2 percent less than last year, totaling USD 1,413 million. According to a new monthly report by the National Statistics Department (GeoStat), export was down 13 percent to USD 281 million, […]
Koba Gvenetadze appointed new head of Georgia’s National Bank
Koba Gvenetadze. (Interpressnews.) TBILISI, DFWatch–Georgia’s president has appointed a new head of the National Bank (NBG). The appointment was signed by President Giorgi Margvelashvili on Thursday. Outgoing NBG head Giorgi Kadagidze will be replaced Koba Gvenetadze, a former politician […]
Direct foreign investments in Georgia down 23% in 2015
(Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia went 23 down percent in 2015 compared to the previous year, according to preliminary figures from Georgia’s National Statistics Department, GeoStat. According to the report, the amount […]
Air Arabia, Scat, El Al, ARKIA and Dniproavia eye Batumi airport
(Interpressnews.) TBILISI, DFWatch–Air Arabia, Scat, El Al Israel Airlines, ARKIA and Dniproavia are considering flights to Batumi airport on Georgia’s Black Sea coast. Guram Jalaghonia, head of the Civil Aviation Agency, told Business and Political Insight (BPI) on Monday […]
Azot chemical plant in Rustavi shuts down for a month
(Azot.ge.) TBILISI, DFWatch–The Azot chemical plant in Rustavi with more than 2,000 employees has shut down for a month due to economic factors. The plant, which lies in Rustavi, a town 20km south of the capital, expected Azerbaijan’s state oil company Socar to reduce […]
Georgia’s foreign trade dropped 24% in January
The Ferro factory in Zestaponi. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January was USD 528 million, a 24 percent drop compared to the same month last year. According to the new monthly report by the National Statistics Department, GeoStat, export was USD 122 million; […]
Casino plans called off in Tbilisi’s new ‘Millenium’ tower
(DF Watch.) TBILISI, DFWatch–Plans to open a high-end luxury casino in downtown Tbilisi have been aborted because the Hong Kong based operator, Melco International Development, was unable to reach an agreement with UAE Dhabi Group about leasing of space. The casino […]
Georgia’s wine export up 13% in January
(DF Watch.) TBILISI, DFWatch–Georgia exported 13 percent more wine in January, compared to the same period last year. According to the National Wine Agency, Georgia exported wine to 19 countries around the world. 1,521,802 bottles were exported, worth USD 2.62 million. […]
Georgian lari reaches historic low of 2.49 against USD
(Interpressnews.) TBILISI, DFWatch–The Georgian national currency on Monday reached a new historic low of 2.4923 lari for one US dollar. The price of dollars in exchange booths and banks was more than 2.53 laris. On January 23, one US dollar was 2.4694. Since the lari was introduced […]
Georgia’s foreign trade went down 13% in 2015
The Ferro plant in Zestaponi. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in 2015 was 13 percent less than in 2014, excluding the unofficial economy. The trade with other countries amounted to USD 9.928 million, according to preliminary figures from the Georgian National Statistics Office (GeoStat). […]
EU approves 217 million euros for energy infrastructure, including TANAP
The South Caucasus Pipeline Expansion is one of the projects that will receive support. (Interpressnews.) TBILISI, DFWatch–EU countries Tuesday approved 217 million euros in support for energy infrastructure in the south and southeast of the European continent, including a study of a gas pipeline to Europe from Turkmenistan, via Georgia. The 15 projects were selected […]
Georgian airports served 12% more passengers in 2015
Kutaisi airport. (Interpressnews.) TBILISI, DFWatch–Georgian airports served 12 percent more passengers in 2015 than the previous year, according to figures published on Tuesday by the Aviation Agency of the Ministry of Economy. Airports in Georgia served a record 2,261,006 passengers in 2015, […]
Georgian Manganese halts mining work due to failing market demand
(DF Watch.) TBILISI, DFWatch–Georgian Manganese is temporarily shutting down its mines western Georgia for four months due to a low demand for manganese. GM owns the mines in Chiatura, a mountain town in the western Imereti province. According to a statement issued […]
Georgia’s export of wine down 39% in 2015
TBILISI, DFWatch–The export of Georgian wine went down by 39 percent in 2015 compared to the previous year. Georgia exported more than 36 million bottles (0.75l) of wine to 46 countries, worth more than USD 98.1 million, according to a report published […]
7% increase in visitors to Georgia in 2015
Bakuriani skiing resort. (Interpressnews.) TBILISI, DFWatch–The steady increase in visitors continued in December, with seven percent more people arriving last month, compared to the same period in 2014. In the year as a whole, there was also a seven percent increase, according to a new monthly report […]
First train on new China-Turkey route welcomed in Tbilisi
(Interpressnews.) TBILISI, DFWatch–The first train along a new route from China to Turkey, bypassing Russia, arrived in Tbilisi Sunday morning. The arrival of the 21 wagon train, whose final destination is Istanbul, marks the official opening of the Silk Road, the Georgian […]
Georgia: Direct foreign investments slump 33% in third quarter
A new mineral water factory under construction in the Guria region with EBRD financing. (Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia was 33 percent lower in the third quarter of 2015 than in the same period last year, according to preliminary data from the National Statistics Department. Direct foreign investments amounted to USD 489 million […]
Georgia’s foreign trade turnover continues to fall
Poti port. (Interpressnews.) TBILISI, DFWatch–In first nine months of 2015, Georgia’s foreign trade turnover was 14 percent less than in the same period last year. According to a preliminary monthly report published by the National Statistics Department, the foreign trade turnover in January-October […]
Georgian 20, 50 and 100 lari banknotes get facelift
TBILISI, DFWatch–Georgia’s National Bank has presented the design of the new lari banknotes, which will go into circulation in 2016. The denominations that will get a facelift are 20, 50 and 100 lari. They will go into circulation alongside the old banknotes. National Bank […]
Georgia ranks 24th in Doing Business country list
Tbilisi, DFWatch – Georgia ranked 24th among 189 countries, and still the first among post-Soviet countries, except Baltic States, in Doing Business 2016, a World Bank annual report that measures the costs to firms of business regulations, published on Wednesday, a way below of its 15th position last year. […]
Remittances in September down 33%
(Interpressnews.) TBILISI, DFWatch–Remittances to Georgia in September went down 32.9 percent compared to last year, according to the latest monthly report by the National Bank. Remittances, or money that individuals send home to relatives from particularly Russia and Europe, […]
Chinese investors planning new toll road through Rikoti
Rikoti tunnel. (Interpressnews.) TBILISI, DFWatch–Chinese investors are considering building a new toll road through Rikoti Pass, connecting the eastern and western parts of Georgia. The regional development minister said Thursday during the Silk Road Forum that passing a road through Rikoti may […]
Constitutional Court suspends new bank supervision agency
The National Bank will still supervise private banks, for the time being. (National Bank.) TBILISI, DFWatch–Georgia’s Constitutional Court has suspended the work of a newly created agency that was to take over the supervision of private banks; previously the responsibility of the National Bank. The ruling was made during a lawsuit against the parliament […]
23 million bottles of wine exported so far in 2015
(DF Watch.) TBILISI, DFWatch–By September 28, Georgia had exported 23.3 million bottles of wine so far in 2015. 3.5 million bottles were exported in September, according to the Agriculture Ministry; the highest monthly rate in 2015. The export of wine has tripled, compared […]
Georgia’s National Bank intervenes for sixth time since start of lari crisis
Giorgi Kadagidze, head of Georgia’s National Bank. (Interpressnews.) TBILISI, DFWatch–Georgia’s National Bank intervened to bolster the flagging currency lari on Tuesday, causing its value to rise four tetris against the US dollar. The Bank put USD 40 million up for auction, out of which USD 27 million has been sold so far. The lari currently […]
TeliaSonera leaves Georgia and five other Eurasian countries
TeliaSonera owns 58.55% of shares in the holding company that controls Geocell. (Interpressnews.) TBILISI, DFWatch–The Swedish telecommunications giant TeliaSonera is pulling out of several countries, including Georgia. All subsidiaries will be put up for sale in Georgia, Uzbekistan, Moldova, Kazakhstan, Azerbaijan and Tajikistan it was announced Thursday. […]
Grape farmer continue to protest in Georgia’s wine region Kakheti
(Interpressnews.) TBILISI, DFWatch–Farmers continued their protest in the Georgian wine region Kakheti on Monday and clashed with police as they blocked the main highway. Several people were detained by police as they cleared the road. One member of parliament was attacked. […]
Georgia’s foreign trade turnover down 14% Jan-Aug ’15
Georgia’s foreign trade turnover in the first eight months of 2015 was 14 percent less than the year before, according to figures published Monday by the National Statistics Department, Geostat. […]
Farmers in eastern Georgia block road in protest against low grape prices
From a farmer’s protest in Sighnaghi in 2011. (Interpressnews.) TBILISI, DFWatch–In the eastern Georgian region of Kakheti, farmers have been protesting for several days because of low price of grapes, which is their only source of income. Four people were detained during a protest Thursday in Gurjaani, as farmers blocked the […]
New Chinese thermal power station and train factory planned in Georgia
Prime Minister Irakli Garibashvili signed the agreements during a visit to Chine. (Interpressnews.) TBILISI, DFWatch–The Chinese company Dongfang Electric plans to construct a 150 MW thermal power station in Tkibuli, a mining town in western Georgia. The announcement came during a China visit by Prime Minister Irakli Garibashvili and is further […]
Foreign investment up 81% in Q2 of 2015
A section of the E60 motorway under construction at Agara. (Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia went up 81 percent in the second quarter, compared to the same period in 2014. The jump in foreign investment became known Wednesday as Georgia’s National Statistics Department presented […]
PM urges calm as Georgian lari reaches lowest level since 1999
Prime Minister Irakli Garibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s currency lari has reached its lowest level since 1999, but the government is optimistic and blames media and analysts of being incompetent and engaging in speculating. The lari is now at 2.416 against the US dollar, near the all-time low […]
Foreign investments in Georgia increased 87% in 2014
A new road under construction in Kobuleti. (Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia increased 87 percent in 2014, compared to the year before, according to precise data published by the National Statistics Department. The report, which was published on Monday, says investments […]
Georgia’s National Bank adjusts refinancing rate up to 6%
(National Bank.) TBILISI, DFWatch–The National Bank of Georgia further increased the refinancing rate to 6.0 percent on Wednesday. The Bank’s president, Giorgi Kadagidze, said at a briefing that increasing the refinancing rate by half a percent is a response to an increased […]
Foreign trade down 14%, exports 24%
(DF Watch) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first half of 2015 was 14 percent less than last year, according to preliminary figures from Georgia’s National Statistics Department, GeoStat. According to the short monthly report, Georgia’s foreign […]
Russia weighing new ban on import of Georgian wine
(DF Watch.) TBILISI, DFWatch–Georgian wine producers may be hit by another Russian embargo as the Kremlin draws up plans to retaliate against the extension of European sanctions. The Russian consumer safety bureau Rospotrebnadzor apparently is preparing […]
Drop in Georgian wine export explained by problems in Russia and Ukraine
TBILISI, DFWatch–Georgia’s wine export in the first seven months fell by 46 percent, compared to last year, according to the National Wine Agency. The agency explains the drop as a result of ‘unstable political economic situation’ in two of the most important […]
Remittances to Georgia plummet by a fifth
Remittances dropped by more than 20 percent in June (NBG) TBILISI, DFWatch–Money transfers from abroad to Georgia in June dropped by 20.8% compared to the same period last year, according to the latest monthly report by the National Bank. The total amount of money transfer flow in June was $100.4 million […]
Georgia’s foreign trade down 13% in first half of 2015
Rustavi used car market. (rustavi.ge) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first half of 2015 was 13 percent less than last year, according to preliminary figures from Georgia’s National Statistics Department, GeoStat. According to the short monthly report, Georgia’s foreign trade […]
Next Abashidze-Karasin meeting to be held July 15 in Prague
(Interpressnews.) TBILISI, DFWatch–A Russian and a Georgian diplomat will meet on July 15 in Prague. The Abashidze-Karasin talks are an informal channel for discussing trade and other cooperation between the two countries, which don’t have diplomatic relations. […]
National Bank recommends reducing expenses
National Bank recommends to reduce expenses (IPN) TBILISI, DFWatch–The National Bank of Georgia advises the government to cut expenses and revise its tax policy in order to avoid currency fluctuation. The NBG sent parliament its recommendations letter over the adjusted state draft budget 2015, concluding […]
Economy minister sees no threat to flow of remittances from Greece
Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s Economy Minister Giorgi Kvirikashvili said Sunday that a week of halted money transfers will not hamper the flow of money sent home by Georgian migrants in Greece. Banks in Greece shut down last week after the Tsipras government’s […]
Rustavi smelter plant fires hundreds of employees due to lawsuit
(Interpressnews.) TBILISI, DFWatch–Rustavi Poladi, a smelter plant in a town 20km away from the capital, has fired hundreds of employees because of a lawsuit. Nugzar Kachukhashvili, Director of Rustavi Poladi Ltd, said at a press conference on Monday that the […]
Foreign investments in Q1 down 34% in 2015
Sakdrisi gold mine. Much of the foreign investments go into mining. (Interpressnews.) TBILISI, DFWatch–There was 34 percent less direct foreign investment in Georgia in the first quarter of 2015 than in the same period last year. According to preliminary figures from the Georgian National Statistics Department, GeoStat, the amount of foreign investments in the first quarter was […]
Georgia govt backtracks on budget cuts
TBILISI, DFWatch–After a period of depreciation, Georgia’s national currency, lari, has started to stablize. The government has cancelled plans to drastically cut the budget. According to data from the National Bank, one USD is today worth 2.3234 laris. Due to the […]
IMF downgrades Georgia’s economic growth forecast to 2%
TBILISI, DFWatch–The International Monetary Fund (IMF) has further reduced its economic growth outlook for Georgia. According to the new IMF forecast for 2015 and 2016, Georgia will have 2 percent economic growth in 2015 and 3 percent in 2016, while […]
Georgian government preparing almost USD 300 million budget cuts
Economy Minister Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–The government in Georgia is preparing to drastically cut the state budget to deal with a 30 percent reduction in value of the national currency. Presenting the plans Monday, members of the ruling coalition said the budget will be cut by 500 […]
Money transfers in April, 2015 24% lower than previous year
Georgia’s National Bank. (Interpressnews.) TBILISI, DFWatch–Money transfers to and from Georgia fell by 24.4 percent in April 2015, compared to same month in the year before. According to the National Bank, the amount of money transfers last month was USD 91.1 million, which was USD 29.4 million less than […]
Georgia’s foreign trade Jan-Apr was 13% lower than last year
Used cars (12%) and copper ore (12%) are two of the categories of goods Georgia exports most of. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first four months of 2014 was 13 percent less than in the same period last year, according to preliminary figures published by the National Statistics Department, GeoStat. The turnover totaled USD 3,015 […]
China and Georgia launch new cooperation in agriculture
China’s Minister of Agriculture Han Changfu. (Facebook.) TBILISI, DFWatch–China has gifted 245 units of tractors and other machinery to Georgia. The hardware, which also includes bulldozers, excavators, trucks and off-road vehicles, is worth about USD 10 million. Accepting this gift from one of Georgia’s top trading […]
Georgia’s wine export falls sharply
TBILISI, DFWatch–Georgia’s wine export was reduced by 58 percent in the first four months of 2015, compared to the same period last year. The reason is less sales to Russia (-76 percent) and Ukraine (-57 percent). From January through April, Georgia exported wine […]
ERBD to support female entrepreneurs in Georgia
(DF Watch.) TBILISI, DFWatch–The European Bank for Reconstruction and Development (ERBD) has announced a new 45 million euros program to support women entrepreneurs in eastern European countries including Georgia. The program is called ‘Women in Business’ and will involve ERBD […]
Low-cost airlines queuing up to enter Georgian market
TBILISI, DFWatch–Several low cost airlines are looking to enter the Georgian market, according to the Ministry of Economy. Prospective new carriers include Ryanair, EasyJet, Air Berlin, and the Greek company Ellinair. According to the ministry, Ellinair applied to the […]
Georgia’s foreign trade fell 10% Jan-Mar compared to ’14
12 % of Georgia’s export in the first quarter of 2015 was used cars. (Rustavi.ge) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first three months of 2015 was 10 percent less than in the same period last year. The foreign trade turnover in January-March, 2015 was USD 2,279 million, according to the new report of Georgia’s National […]
Money transfers to Georgia down 24% in March compared to ’14
(Interpressnews.) TBILISI, DFWatch–The amount of money transfers to Georgia in March fell by 23.5 percent compared to the same period last year, according to a report by the National Bank of Georgia (NBG). The amount of money transfers in March was USD 92.2 million, which is USD […]
New Georgian plant may produce parts for Boeing, Airbus and Bombardier
Irakli Kovzanadze, director of the Georgian government’s Partnership Fund. (Interpressnews.) TBILISI, DFWatch–An Israeli company plans to build a new factory in Georgia with the goal of producing parts for Boeing, Airbus and Bombardier passenger planes. The construction of the ‘high tech and modern’ aviation plant will begin in three months, Economy […]
Wizz Air ending flights between Georgia and Ukraine
(Interpressnews.) TBILISI, DFWatch–Wizz Air is ending flights between Georgia and Ukraine from April 20 because the company Wizz Air Ukraine is being dissolved. “This decision was made, with regret, due to the ongoing instability in Eastern Ukraine, the devaluation and volatility […]
Georgia wants to be a springboard for Chinese trade with Europe
Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–Georgia wants to use its free trade access to the EU to become a springboard for Chinese trade with Europe. Last year, Georgia signed an association agreement with the EU. Included was what’s called a deep and comprehensive free […]
Money transfers to Georgia fell 22% in February
The National Bank of Georgia. (Interpressnews.) TBILISI, DFWatch–The amount of money transfers to Georgia in February fell by 21.7 percent compared to same period last year, according to a new report by the National Bank. The total amount of incoming transfers in February was USD 82.0 million laris; […]
Georgia’s foreign trade in Jan-Feb fell 9%
Trailers at Sarpi customs. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first two months of 2015 fell by 9 percent compared to the same period last year. This is indicated by new preliminary data published by the National Statistics Department (Geostat). The total foreign trade […]
Foreign investments up 39% in 2014
The new Tbilisi-Rustavi road is a Chinese investment. (Interpressnews.) TBILISI, DFWatch–Direct foreign investments in Georgia in 2014 was 39 percent more in 2014 than it was in 2013, according to a new preliminary report of the National Statistics Department (Geostat). The amount of the investments in 2014 was USD […]
Georgian lari stabilizes at record low level
(DF Watch.) TBILISI, DFWatch–The lari, Georgia’s embattled national currency, showed signs of recovery on Thursday after both the National Bank and the government announced that they are taking measures to stop it from further depreciation. In recent days, the national […]
Georgian government’s economy experts gather as lari continues to fall
Economy Minister Giorgi Kvirikashvili believes the situation will improve in the near future. (Interpressnews.) TBILISI, DFWatch–As the Georgian lari reached a new record low, the Georgian government’s “economy team” gathered to come up with a plan to save the country’s economy. The US dollar is valued at 2.1771 laris in the most recent figures from the National Bank […]
Georgia’s trade in January 30% lower than last year
(Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January 2015 was 9 percent lower than last year, according to preliminary data published by the National Statistics Department, GeoStat, on Friday. The total turnover was USD 694 million, out of which export […]
Georgia downgrades its economic growth outlook
Finance Minister Nodar Khaduri. (Interpressnews.) TBILISI, DFWatch–The Georgian government has downgraded its economic growth outlook for 2015 from five to four percent. Finance Minister Nodar Khaduri said on Thursday that stagnation is expected in all neighboring countries, and this is reflected in the new […]
Three percent drop in visitors to Georgia in January
(Interpressnews.) TBILISI, DFWatch–Three percent less people visited Georgia in January 2015, compared to the same period last year, according to new figures from the Ministry of internal Affairs. The figures were presented on Tuesday by the ministry’s Department of Analysis, […]
China’s ambassador briefed about investment prospects in agriculture
China’s Ambassador to Georgia Yue Bin met with Georgia’s Minister for Agriculture Otar Danelia on Wednesday. (Interpressnews.) TBILISI, DFWatch–Georgia’s agriculture minister on Wednesday met with the Chinese ambassador to discuss bilateral relations and the mostly positive dynamic in trade relations. Ambassador Yue Bin said that the year 2014 was the most successful, fruitful and positive […]
Georgia’s foreign trade grew 5% in 2014
TBILISI, DFWatch–Georgia’s foreign trade turnover in 2014 was five percent more than the previous year according to preliminary data from the National Statistics Department, GeoStat. The turnover totalled USD 11,459 million. According to the preliminary […]
Sharp drop in money transfers into Georgia
(DF Watch.) TBILISI, DFWatch–Money transfers to Georgia in December 2014 were 24.9 percent lower than in the same period in 2013, according to new figures from the National Bank. The amount of money transfers in December was USD 116.1 milllion, which was USD 38.5 million […]
Georgia had 2% growth in tourism in 2014
Tourists at Jvari Church in Mtskheta. (Interpressnews.) TBILISI, DFWatch–Georgia had a two percent growth in tourism in 2014. More than 5.4 million people visited the country last year, which is a 1.9 percent increase compared to 2013. The Interior Ministry published its monthly statistics of visitors to Georgia, […]
Georgian parliamentarian visiting China to attract new investors
Davit Saganelidze visiting the president of CNEC in Beijing in April 2014. (Interpressnews.) TBILISI, DFWatch–Head of the parliamentary majority in Georgia is on a visit to China to attract more investments to his country. China is one Georgia’s top five trade partners. The trade between Georgia and China was USD 564 million in all of 2013, while […]
Georgia’s growth in export grinds to a halt
(Interpressnews.) TBILISI, DFWatch–Georgia looked set to continue growing its export this year, but a 35% drop in November has brought the export down to same level as 2013, according to new preliminary data from the National Statistics Department. Georgia’s export in the month […]
Georgia to regulate quality of traditional yogurt
A study earlier in 2014 found that many milk products contain vegetable fat. Now the contents of matsoni will be regulated by law. (for.ge) TBILISI, DFWatch–A new law will regulate the quality of the Georgian milk product matsoni, a kind of a fermented milk similar to yogurt. The purpose is to protect matsoni as cultural heritage and ensure the best quality of the traditional product. In a new draft […]
New figures confirm upward trend of Georgia’s foreign trade
Trucks at the border with Turkey at Sarpi. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first ten months of 2014 was USD 9.4 billion; 10 percent more than the same period in 2013. According to the latest monthly report by Georgia’s National Statistics Department, published on Monday, export […]
Georgia’s wine production grew 13% in 2013
71% of the wine was produced by households in 2013. (Interpressnews.) TBILISI, DFWatch–Georgia produced 12.6 percent more wine in 2013 than in 2012, according to the government’s international monitoring center. 71.2 percent of the 183,381 tons of wine produced in 2013 came from households, and 28.8 percent from companies. In 2012, […]
Georgia’s foreign trade turnover up 10% Jan-Sept ’14
(Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first nine months of 2014 was ten percent more than the year before, according to figures published Friday by the National Statistics Department, Geostat. The total turnover was USD 8,376 million, out […]
Slight increase in money transfers to Georgia
(Graphic published by the National Bank of Georgia.) TBILISI, DFWatch–Georgia’s National Bank noted a one percent increase in money transfers into the country in August 2014, compared to the same period last year. The amount of money transferred from abroad in August was 225.1 million lari (130.1 million USD); 0.9 percent […]
Georgia’s foreign trade turnover Jan-Aug up 12%
(DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first eight months of 2014 was 12 percent more than in the same period last year. Preliminary data from Georgia’s National Statistics Department, GeoStat, published on Tuesday show that the total amount […]
Georgia sees sharp drop in foreign investments
(Interpressnews.) TBILISI, DFWatch–The amount of direct foreign investments in Georgia in the second quarter of 2014 was USD 151 million; significantly lower than in the same period last year. This is down 27% compared to in the second quarter of 2013, when there was USD 208 million […]
Georgian wine export up 69% Jan-Aug ’14
Export of Georgian wine continues to increase. TBILISI, DFWatch–Georgia increased its wine export by 69 percent in the first eight months of 2014, compared to last year. According to the the National Wine Agency, the country exported 36,585,769 bottles (0.75 liters) of wine in the period. The agency on Wednesday […]
Georgia’s growth up 7.2% in July
(DF Watch.) TBILISI, DFWatch–Georgia’s estimated real GDP growth in July 2014 was 7.2 percent more than in the same period last year, according to preliminary results from Georgia’s Statistics Department, GeoStat. Estimated GDP growth in the second quarter of 2014 was 5.1 […]
Georgia’s foreign trade turnover Jan-Jul ’14 up 14 %
(DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January-July 2014 was USD 6,480 million. This is 14 percent more than in same period last year. Preliminary data published by the Statistics Department on Monday show that import in the first seven months […]
Georgia downplays impact of losing free trade with Russia
Georgian PM Irakli Gharibashvili. (Interpressnews.) TBILISI, DFWatch–Government officials in Georgia claim it will not bring serious financial harm to the country if Russia suspends its free trade agreement with Georgia. On Wednesday, the Russian Duma was reported to be preparing a draft bill about suspending […]
GeoStat publishes foreign trade data for Jan-Jun ’14
Foreign trade turnover in the first half of 2014 was up 16% compared to last year. (Interpressnews.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first half of 2014 was 16 percent more than last year, according to preliminary data from the National Statistics Department, GeoStat. According to the new report published on Wednesday, the amount of foreign […]
Flight route to connect Mestia with Tbilisi by air
King Tamar Airport in Mestia. (Photo published by United Airports of Georgia.) TBILISI, DFWatch–There will be regular flights between Mestia, in the northwest of Georgia, with Mtskheta, just north of Tbilisi. The route, which opens on July 18, will cut travel time to the tourist resort from seven hours by land to 45 minutes. Flights will depart from the airport […]
Georgia unveils new symbol for its currency, the lari
The new lari sign as it may look in handwriting. (Interpressnews.) TBILISI, DFWatch–Georgia’s National Bank has unveiled a new symbol for its currency, the lari. The sign is a modified old Georgian letter ‘L’ with two bars, slightly resembling the euro sign. The winner of the National Bank’s competition is a cross between the Georgian letter […]
Georgia hopes to keep its free trade with Russia
“We will do our best to continue free trade with Russia,” says Giorgi Kvirikashvili, Georgia’s Economy Minister. TBILISI, DFWatch–Georgian Economy Minister Giorgi Kvirikashvili said Sunday that his country will try to have free trade with both Russia and the European Union. An expert meeting between Georgian and Russian bureaucrats is planned for Monday in Prague […]
Two thirds of Georgia’s growing wine export goes to Russia
From a wine festival in Sighnaghi in 2013. (Click on image to read about the festival.) (Interpressnews.) TBILISI, DFWatch–Georgia exported 26,872,145 bottles of wine in the first half of 2014. Out of the 34 different countries receiving the wine, two thirds of it went to Russia. In sheer volume, the almost 27 million bottles, each 0.75 liters, if put together […]
Georgia and Russia meet to sort out EU vs CIS free trade
Georgian Foreign Minister Maia Panjikidze. (Interpressnews.) TBILISI, DFWatch–Georgian and Russian trade experts will meet in Prague on July 7 to find out how compatible Georgia’s new free trade with the European Union is with its already existing free trade framework with countries of the former Soviet Union. The […]
Georgia improves on global retail index
TBILISI, DFWatch–Georgia has improved its position on the Global Retail Development Index, a list of the most prospective countries for investing in retail trade. Georgia has climbed one place and is now number seven among 30 developing countries. […]
Russian experts in Georgia to inspect produce
Georgian agricultural products are being scrutinized by Russian phytosanitary experts. (Photo published by the Ministry of Agriculture.) TBILISI, DFWatch–A group of four experts from Russia’s Federal Service for Veterinary and Phytosanitary Surveillance, Rosselkhoznadzor, Monday arrived in Georgia to examine the quality of fruit and other products that are exported to the Russian market. The […]
Georgia’s foreign trade up 16% Jan-May ’14
Georgia’s foreign trade continues to grow. (DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first five months of 2014 was USD 4,498 million. This is 16 percent more than in the same period last year, according to preliminary figures published on Monday by the Georgian National Statistics Office, Geostat. […]
Foreign investments Georgia was USD 260 million in Q1
Poti port. (Interpressnews.) TBILISI, DFWatch–Direct foreign investment in Georgia in the first quarter of 2014 was USD 260 million, according to preliminary data from National Statistics Office, Geostat. The preliminary data published on Tuesday show that the amount of investments in the […]
Georgia’s wine export is booming
Wine export grew 147 percent in the first five months of 2014, compared to the year before. TBILISI, DFWatch–Georgia increased its export of wine by 147 percent in the first five months of 2014, compared to last year. 22,779,153 bottles of wine was exported to 32 countries worldwide, which amounted to USD 73,795,849. Revenues from wine export in January […]
Foreign trade growth confirmed Jan-Apr ’14
(DF Watch photo.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first four months of 2014 was USD 3,441 million, which is 14 percent more than in the same period last year. According to precise figures published by the National Statistics Department on Friday, export was […]
Foreign trade turnover Jan-Apr up 14%
Georgia’s foreign trade in the first four months of 2014 was 14% higher than the same period last year. (DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January-April of 2014 was 14 percent more than the same period last year, according to preliminary data from Georgian National Statistics Department. According to the short preliminary report published on Friday, […]
Georgia’s foreign trade up 18% in Q1 – precise data
More than a fifth of Georgia’s export is used cars. (Rustavi.ge.) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first three months of 2014 was USD 2,523 million, according to precise data from the National Statistics Department, GeoStat, published on Thursday. This is 18 percent more than it was in same period last […]
Georgian foreign trade in Q1 up 18%
Used cars is Georgia’s most important export item. Here Rustavi car market near Tbilisi. (rustavi.ge) TBILISI, DFWatch–Georgia’s foreign trade turnover in the first three months of 2014 was USD 2,523 million. This is 18 percent more than in the same period last year. Preliminary data published by Georgia’s National Statistics Department, GeoStat, show that export […]
Georgia had 8 percent increase in visitors in March
10% more tourists visited Georgia in January-March 2014, compared to the year before. (Interpressnews.) TBILISI, DFWatch–Georgia had an 8 percent increase in number of visitors in March, 2014, compared to the same period last year. There came 392,725 visitors in the third month of 2014, according to new monthly figures published by the Ministry of Internal Affairs. […]
Georgian PM visits site of new air, sea and land transit hub
Prime Minister Irakli Gharibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia on Wednesday confirmed plans for a new airport in conjunction with a port in Anaklia, a small settlement on the Black Sea coast, on the border with Abkhazia. Prime Minister Irakli Gharibashvili, who visited Anaklia with Infrastructure […]
Are interruptions in Georgia’s wine export economic warfare?
Levan Davitashvili, head of Georgia’s National Wine Agency. (Interpressnews.) TBILISI, DFWatch–There are interruptions in the export of wine from Georgia to Belarus, although formally the export is not stopped. The sale of wine to Ukraine and Russia is continuing without any restrictions, according to Levan Davitashvili, head […]
17% increase in Georgia’s foreign trade Jan-Feb confirmed
Georgia’s foreign trade was 17% higher in the two first months of 2014, compared to 2013, but most of the trade is import. (DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover January-February, 2014, was USD 1 567 million. This is a 17 percent increase, compared to the same period last year. Precise figures from Georgian National Statistics Department, GeoStat, show that export accounted […]
Georgia creates service center to assist exporters
Grape harvest 2013. Wine if one of Georgia’s export products. (Interpressnews.) TBILISI, DFWatch–Ministry of Economy Giorgi Kvirikashvili is creating a new service center to protect the interests of exporters. Kvirikashvili said on Thursday said that the new body will start working from Friday. “Along with positive trends in Georgia’s foreign trade turnover, […]
Georgia’s foreign trade up 17% Jan-Feb
(DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover was USD 1 567 million in January-February 2014, according to preliminary figures from Georgian National Statistics Department, GeoStat. The figures show that foreign trade turnover in the first two months of the year […]
Foreign investments in Georgia virtually unchanged in 2013
The top investment sector in 2013 was energy. Here Enguri dam. (Interpressnews.) TBILISI, DFWatch–Georgia received USD 914 million in direct foreign investments in in 2013. This is 0.3 percent more than in 2012, according to preliminary figures from Georgian National Statistics Department, GeoStat. According to the figures, direct foreign […]
Georgian PM woos foreign investors
Prime Minister of Georgia, Irakli Gharibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia offers investors a favorable environment and a market of potentially 900 million people, Prime Minister Irakli Gharibashvili said during the Georgia-Israel Business Forum. Gharibashvili mentioned that a common system of allowances with 8 countries, […]
Georgia may revise taxation on some imported goods
Gogi Topadze, one of the parliamentarians who authored the bill. (Interpressnews.) TBILISI, DFWatch–Georgia may change the rules for VAT taxation and abolish advantages for importers of certain categories of goods. Parliament has started reviewing the draft, but the National Movement criticizes it and says they believe members of the ruling […]
47 % price hike on vegetables in Georgia
Vegetable prices had a projected annual growth of 46.6 percent in February, according to GeoStat. (DF Watch.) TBILISI, DFWatch–Vegetable prices are on course to a 46.6 % projected annual increase in Georgia, new figures from the National Statistics Department, GeoStat, show. Georgia’s monthly inflation rate was 0.2 percent in February, according to the new report. In February […]
Georgia: 15% rise in January’s foreign trade confirmed
Used cars for sale at Rustavi car market near Tbilisi. (rustavi.ge.) TBILISI, DFWatch–Georgia’s foreign trade turnover was USD 761 million in January 2014 according to precise data published by Georgia’s National Statistics Department, GeoStat. This is 15 percent more than in 2013. Export was USD 224 million, which is 14 percent […]
Georgia’s foreign trade up 15% in Jan compared to last year
Tbilisi Mall. (DF Watch.) TBILISI, DFWatch–Georgia’s foreign trade turnover increased 15 percent in January, 2014, compared to the same period last year. The total turnover was USD 761 million. This is according to preliminary data published by Georgia’s National Statistics Department, […]
Georgia adds guitar to consumer basket
Georgia’s National Statistics Department has updated the list of items used to measure consumer prices. (DF Watch.) TBILISI, DFWatch–11 new products including a guitar have been added to Georgia’s consumer basket, and four products were removed from the list. The consumer basket is a theoretical collection of items used to define the consumer price index or inflation rate […]
GeoStat: Georgia’s GDP 8% higher in Dec ’13 than Dec ’12
The unofficial economy is not part of GeoStat’s rapid monthly estimates. (DF Watch.) TBILISI, DFWatch–Georgia’s estimated real GDP growth rate was 8.4 percent in December 2013, compared to the same month in 2012, according to preliminary data published by the National Statistics Department, GeoStat. According to the estimate, real GDP growth […]
Georgian lari continues to fall
Georgian lari continues to drop in value. (DF Watch.) TBILISI, DFWatch–The Georgian lari continues to fall in value and hit 1.7817 against the US dollar on January 23. The fall started in early November and continued gradually from a level of around 1.67 lari against the dollar the month before. The lari rate has also […]
Farmers in Georgia dump mandarin harvest due to delay
Farmers in Kobuleti have thrown away mandarins that rotted while they were waiting to bring it to the factory. (Interpressnews.) TBILISI, DFWatch–Farmers in Kobuleti, a small town on the Black Sea coast, have thrown away part of their mandarin harvest because it rotted before they managed to sell it to the factory. The farmers say frost destroyed their mandarin and they just have to throw it […]
World Bank expects 6.3 % growth in Georgia in 2014
The World Bank expects Georgia to have over 6 percent growth in 2014. (DF Watch.) TBILISI, DFWatch–The World Bank expects Georgia to have 6.3 percent economic growth in 2014. The estimate was published in the Bank’s Global Economic Prospects 2014, which reads that the prognosis for economic growth in Georgia in 2014 is 6.3. […]
Georgia listed in 22nd place on Index of Economic Freedom
Marneuli Food Factory expanded its range of products with canned peaches in August 2013. (Interpressnews.) TBILISI, DFWatch–Georgia is listed in 22nd place on the Index of Economic Freedom, a ranking which includes 178 countries worldwide. The list was published Tuesday by the Heritage Foundation and shows Georgia in 22nd place with 72.6 points. According to the report, […]
Georgia’s National Bank changes policy after drop in lari’s value
TBILISI, DFWatch–The National Bank of Georgia plans to tighten its monetary policy in case the fall in the exchange rate of lari sets off an inflation. After falling in value for several months, the Georgian lari (GEL) is now rated at 1.7421 against the US dollar. […]
Georgian lari falls further against dollar, euro
Georgian National Bank. TBILISI, DFWatch–The exchange rate of Georgian lari (GEL) continues to fall and is now valued at 1.7466 against the US dollar. According to the National Bank of Georgia, the lari this year fell by 5.1 percent. The last time it was as low as 1.74 against the dollar was […]
Georgia’s foreign trade Jan-Nov grew 4%
Used cars remained Georgia’s number one export product. (gancxadebebi.ge.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January-November 2013 was USD 9 681 million. This is four percent more than in the same period last year. USD 2 618 of this was export – 20 percent more than in 2012. Import amounted to USD 7 064 million […]
Georgia to invest in Shah Deniz
Prime Minister of Georgia Irakli Gharibashvili (left) and President of Azerbaijan Iljam Aliyev. (Official photo.) TBILISI, DFWatch–Georgia plans to invest USD 400-700 million in the Shah Deniz project in Azerbaijan, according to Energy Minister Kakhi Kaladze. Kaladze was in Azerbaijan December 16-17 along with a delegation from the Georgian government who signed a resolution […]
British, German and Hungarian pharma to enter Georgia
Companies based in the UK, Germany and Hungary will try to enter the pharmaceutical sector in Georgia. (Interpressnews.) TBILISI, DFWatch–Foreign pharmaceutical companies are preparing to enter the Georgian market, according to the Health Ministry. Health Minister Davit Sergeenko said on Friday that foreign pharmaceutical companies plan to start operating in Georgia and negotiations […]
Investments in Georgia up 20% in Q3 year-on-year
Hydro power is one of the things international financial institutions are funding in Georgia. TBILISI, DFWatch–The amount of direct foreign investments in the third quarter of 2013 was USD 239 million, up three percent from the second quarter. Investments in third quarter of 2013 was 20 percent more than the same period last year. Foreign investments […]
Precise data show 1 % growth in Georgia’s foreign trade
A used Mercedes for sale at Rustavi car market. (gancxadebebi.ge.) TBILISI, DFWatch–Georgia’s foreign trade turnover in January-October 2013 was USD 8 591 million, according to precise data from Georgian National Statistics Department (Geostat). This is one percent more than in the same period last year. The export was USD 2 306 […]
Georgian citrus fruits are being exported to Russia
TBILISI, DFWatch–A ship Wednesday arrived in Batumi to take aboard 300 000 boxes, or 120 tons, of Georgian citrus fruits and bring the goods to Novorossiysk. The citrus fruit originated in the two municipalities Khelvachauri and Kobuleti. According to Zaur Putkaradze, […]
IMF in Georgia to discuss economic policy with new gov’t
TBILISI, DFWatch–The acting Georgian finance minister on Wednesday met with representatives of the International Monetary Fund (IMF) to discuss priorities in next year’s budget and the country’s macroeconomic indicators. Mark Griffiths, head of the IMF mission, […]
Georgia’s foreign trade turnover Jan-Oct
TBILISI, DFWatch–Georgia’s foreign trade turnover in January-October 2013 was one percent more than in the same period the year before. According to preliminary data from the National Statistics Department, the total amount of foreign trade turnover in the first ten […]
EBRD downgrades Georgia’s growth prognosis
TBILISI, DFWatch–The European Bank for Reconstruction and Development (EBRD) has downgraded its prognosis for Georgia’s economic growth in 2013 from 3 to 2 percent. EBRD said a few days ago that the GDP growth will also be reduced from 5 to 4 percent and the level of […]
The Georgian lari drops in value
The Georgian National Bank. TBILISI, DFWatch–The exchange rate of Georgian lari against the US dollar and the euro has fallen. November 8, the exchange rate of lari against USD was 1.6793. November 7 it was 1.6737. The rate has been falling for one week. October 29 it was 1.6675. The Georgian lari […]
14 % more visitors to Georgia in October
TBILISI, DFWatch–There were 14.1 percent more visitors to Georgia in October, compared to last year, according to the Interior Ministry’s monthly report. The number of visitors in October was 480 510. In the entire first ten months of this year, there were 4 556 […]
Georgia’s foreign trade shifts toward export
TBILISI, DFWatch–Georgia’s foreign trade turnover fell by a negligible 0.1 percent in the first nine months of 2013, compared to last year, to USD 7 585 million. USD 2 019 out of this was export, which is 14 percent more than last year, while the import was USD 5 […]
Georgian finance minister disputes IMF’s reduced growth prognosis
Nodar Khaduri, Finance Minister of Georgia. (Interpressnews.) TBILISI, DFWatch–The government of Georgia disagrees with a prognosis by the International Monetary Fund (IMF) indicating that Georgia’s economic growth will experience a further slowdown. Finance Minister Nodar Khaduri said Friday that the government has been […]
IMF expects growth to slow down in Georgia
TBILISI, DFWatch–The International Monetary Fund (IMF) has downgraded its prognosis for Georgia’s economic growth this year from 6 to 2.5 percent. In the beginning of 2013, IMF assumed Georgia would have 6 percent growth, but then reduced the prognosis to 4 percent […]
Russia faults seven Georgian wine producers
Levan Davitashvili, head of Georgia’s National Wine Agency. (Interpressnews.) TBILISI, DFWatch–Russia has refused to let seven Georgian wine producers export 28 types of wines to the Russian market ‘due to non-compliance with hygienic standards.’ The official website of the Russian consumer protection agency Rospotrebnadzor published a list […]
Preparations continue for Georgia-Turkey 154 kV transmission line
Energy Minister Kakhi Kaladze. (Interpressnews.) TBILISI, DFWatch–A new 154 kilovolt transmission line will be built between Georgia and Turkey. Energy Minister Kakhi Kaladze and Nikolay Nikolov, Vice Director of Energo-Pro Georgia signed the memorandum of understanding Monday. A memorandum was first signed in 2009, […]
Best Georgian wine harvest in decades
Grapes harvested in Georgia. (Interpressnews.) TBILISI, DFWatch–81 companies have received and produced the highest amounts of grapes for decades, according to the Agriculture Ministry: 80 097.6 tons of grapes have already been processed this season. Last year, the number was 52 000 tons. Of Saperavi, one of the […]
Georgia’s economy is on the right track, says economy minister
Economy Minister Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s economy is growing and will grow faster after the presidential election, the country’s economy minister said before the opening of a business forum on Friday. Saakashvili’s party, the National Movement, has frequently criticized the […]
Foreign trade turnover on same level as in ’12
TBILISI, DFWatch–Georgia’s foreign trade turnover was reduced by 0.1 percent in the first eight months of 2013, compared to the same period in 2012, according to new figures from Georgian National Statistics Department, GeoStat. The preliminary foreign trade data […]
Direct foreign investments in Georgia grows 3% in Q2
Direct foreign investment 2011-2013. Preliminary data. (GeoStat.) TBILISI, DFWatch–Direct foreign investments in the second quarter 2013 was USD 232 million, according to preliminary information. This is three percent more than in the first quarter and seven percent more than it was in the second quarter of 2012. According to […]
Georgia had 28% more visitors in August compared to ’12
(Interpressnews.) TBILISI, DFWatch–Georgia had 28.2 percent more visitors in August 2013 compared to the same period in 2012, according to the Interior Ministry. The ministry every month publishes data about visitors. There are three categories of visitors: tourists, transit travel […]
Third team of Russian quality experts to Georgia Sept 16
Levan Davitashvili. (Interpressnews.) TBILISI, DFWatch–A third team of Russian experts are coming to Georgia on September 16 to check the quality of wine and mineral water. The experts come from the consumer protection agency Rospotrebnadzor and will check approximately 30 Georgian wine […]
Ivanishvili offers UNM to give advice through mediators
Prime Minister Bidzina Ivanishvili. (Interpressnews.) TBILISI, DFWatch–Georgian Prime Minister Bidzina Ivanishvili says he will only deal with Mikheil Saakashvili’s National Movement party through mediators and suggests that they present their views to experts who then will explain it to the government. Ivanishvili […]
Precise data confirm 2% drop in foreign trade turnover Jan-Jul
Used cars is still Georgia’s number one export article. (Interpressnews.) TBILISI, DFWatch–Precise data from Georgian Statistics Department (GeoStat) show that Georgia’s foreign trade turnover in the first seven months of 2013 was two percent less than in 2012. The total amount of foreign trade turnover in January-July 2013 was USD 5 662 […]
Turkey reduces transit fee for Georgian trucks
(DFWatch.) TBILISI, DFWatch–Turkey has lowered the transit fee for Georgian registered trucks to a quarter after several Georgian trucks failed to pay the amount usually paid by every other country. From September 1, so-called panel vans and minibuses will have to pay 150 or 300 […]
Georgia’s foreign trade turnover down 2% Jan-Jul
Data for January-July of previous years. (GeoStat.) TBILISI, DFWatch–Foreign trade turnover in January-July 2013 fell by 2 percent compared to the same period in 2012, according to preliminary data from Georgia’s National Statistics Department, GeoStat. The total foreign trade turnover in the first seven months […]
Foreign investments in Georgia down by a fifth in 2012
FDI in Georgia in 2012, broken down by sector. Preliminary data. (Source: investingeorgia.org.) TBILISI, DFWatch–Direct foreign investments in Georgia fell by almost a fifth in 2012, compared to 2011, according to data from the National Statistics Department (Geostat). In 2012, the total amount of foreign investments was USD 912 million. This is five percent […]
Georgia increases subsidizes for wine industry threefold
Minister of Agriculture Shalva Pipia. (Interpressnews.) TBILISI, DFWatch–The government in Georgia is subsidizing the grape harvest with 25 million lari (USD 15 million) in the form of cheap loans to wine companies. This is a threefold rise, compared to previous years. Explaining the increased stimulation of the wine […]
Georgia had 26% more tourists so far in 2013
The Black Sea coast is a popular destination in summer. Here Ganmukhuri. TBILISI, DFWatch–The number of people who visited Georgia has increased by 26 percent in the first seven months of 2013 compared to the same period last year. Giorgi Sigua, Chairman of the National Tourism Administration, said at a briefing that in the first seven […]
EBRD compliments Georgia on stabilizing bank sector
TBILISI, DFWatch–The president of the European Bank for Reconstruction and Development (EBRD) says Georgia’s bank sector is in ‘a very good shape’. Sir Suma Chakrabarti, EBRD President, said in an interview with the Georgian edition of Forbes Magazine that many […]
Georgia and Ukraine to boost bilateral trade
TBILISI, DFWatch-Georgia and Ukraine plan to increase bilateral trade turnover to one billion USD in 2013. This was reported by Ukrainian media after a meeting between Vice Prime Minister of Ukraine Olexandr Vilkul and Georgian Ambassador Mikhail Ukleba. Vilkul said […]
Farmer cut down peach field in protest against falling prices
Gia Shaoshvili is the first to carry out a threat by peach farmers to cut down their plantations if the government doesn’t help them. (ick.ge.) TBILISI, DFWatch–A peach farmer in Georgia has cut down his plantation because the government hasn’t helped him and his colleagues deal with a slump in the market price. When Gia Shaoshvili , a resident of the village Chumlaki in the eastern Kakheti region, carried […]
Georgian government contests negative growth figures
TBILISI, DFWatch–Georgia’s economy and finance ministries claim that data recently published by the National Statistics Department, GeoStat, showing negative economic growth is not final and will be adjusted twice. On Wednesday, GeoStat published a report about […]
Bakradze asks Ivanishvili for meeting to discuss crisis
Davit Bakradze. (Interpressnews.) TBILISI, DFWatch–Davit Bakradze, the National Movement’s presidential candidate, asks Prime Minister Bidzina Ivanishvili for a meeting to discuss how to get the country’s economy out of the crisis. The PM has not yet responded. On Wednesday, the National Statistics […]
Georgia’s new government criticized for economic policy
TBILISI, DFWatch–The new government in Georgia is coming under fire for its economic policy. Figures from the National Statistics Department, GeoStat, show that GDP in June was negative -0.8 percent compared to same period last year. President Saakashvili’s party […]
1.7 mill bottles of Georgian wine exported to Russia
TBILISI, DFWatch–Georgia has exported more than 1.7 million bottles of wine to Russia after the lifting of an embargo from 2006, says Minister of Agriculture Shalva Pipia. Russia is now among the top five export markets for Georgia for wine, Pipia said Monday. […]
World Bank funds USD 60 million reform program in Georgia
Georgia’s Finance Minister Nodar Khaduri. (Interpressnews.) TBILISI, DFWatch–The World Bank is funding a USD 60 million program to support competitive and inclusive economic growth in Georgia. Signing the formal agreement for the Bank was its Regional Director for South Caucasus, Henri Kerali, and for Georgia, Finance […]
Government’s goal of 6% growth seen as unrealistic
Finance Minister Nodar Khaduri. (Interpressnews.) TBILISI, DFWatch–Despite the prime minister’s prognosis and the state budget, the minister of economy and the minister of finance say it is impossible to achieve 6 percent economic growth by the end of the year. Minister of Economy Giorgi Kvirikashvili said on […]
Iraninan official praises Georgia’s business climate
TBILISI, DFWatch–Iran’s Deputy Ambassador says Georgia has good conditions nowadays to attract foreign investments. The first Iran-Georgia business forum is ongoing in Tbilisi at Expo Georgia, a exhibition center. It is being attended by representatives of large […]
Iran-Georgia business forum in Tbilisi
TBILISI, DFWatch–Tuesday there will be held an Iran-Georgia business forum in Tbilisi. An Iranian trade delegation arrives in Georgia July 1 and will stay until July 5. The forum will be held at Expo Georgia, an exhibition and convention center, where there will be […]
Georgia received 56 percent more tourists in 2012
4.4 million tourists visited Georgia in 2012; a 56 % increase. (Interpressnews.) TBILISI, DFWatch–The number of tourists grew by 56 percent in 2012, according to the National Tourism Administration. 4 389 256 tourists visited Georgia last year. In the period from January to May 2013, the number of tourists was 1 698 146, which is an increase of […]
57% of visitors to Georgia Jan-Mar 2013 were tourists
Giorgi Sigua, head of Georgian National Tourism Administration. (Interpressnews.) TBILISI, DFWatch–57 percent of foreigners who crossed the border into Georgia in first quarter of 2013 were tourists, according to the first result of a report conducted by the Georgian National Tourism Administration. Giorgi Sigua, head of the administration, said […]
First Georgian cognac in 7 years to reach Russian consumers
The first Georgian drinks to be on sale in Russia will be a cognac made in Kakheti. (DF Watch photo.) TBILISI, DFWatch–20 000 bottles of cognac were Tuesday sent to Russia to be sold there. This is the first time Georgian beverages are sold in Russia after it imposed an embargo on Georgian products in 2006. Levan Davitashvili, Chair of the National Wine Agency […]
42 000 less jobs since fourth quarter of 2012
TBILISI, DFWatch–The number of employed in the business sector has increased by 16 000 in the first quarter of 2013 compared to the same period in 2012, but the number has decreased by 42 000 compared to the fourth quarter of 2012. In the first quarter of 2013, […]
Georgia rejects Russian accusation of biological warfare
TBILISI, DFWatch–Georgian Food Safety Service responds to the Russian chief sanitary inspector, who said that Georgia was planning ‘bio-sabotage’ in Russia. Veriko Gulua, head of the Service’s press office told DF Watch that this statement is groundless […]
Georgia’s foreign trade turnover fell 4 % Jan-Apr
TBILISI, DFWatch–Georgia’s foreign trade turnover in January-April 2013 fell by 4 percent compared to the same period in 2012. The trade turnover with EU was reduced by 13 percent, while the negative net trade balance with CIS countries went down 57 percent. […]
Foreign trade turnover fell 4% Jan-Apr 2013
Georgia’s foreign trade turnover fell in the first four months of 2013. (GeoStat.) TBILISI, DFWatch–According to preliminary data, Georgia’s foreign trade turnover has decreased by four percent in the months January through April of 2013, compared to the same period in the preceding year. The total foreign trade turnover in this period totaled […]