National Bank prognosticates 4.5% economic growth
Publish Time: 2017-09-29 18:23:00
The speed of Gross Domestic Product growth in August 2017 increased. The average growth of economy reached 4.7% during eight months. The National Bank of Georgia (NBG) prognosticates 4.5% growth.
Economic Minister inspecting construction of Baku-Tbilisi-Karsi railway line
Publish Time: 2017-09-27 12:22:00
Giorgi Gakharia, Minister of Economy and Sustainable development is inspecting the construction works of Baku-Tbilisi-Karsi railway line together with Turkish Transport Minister and Head of Railway Company of Azerbaijan. The 70% of works are already completed. The railway line is estimated to manage 5-million cargo turnover and serve 1 million passenger flow. The railway line will contribute to the increase of Georgia’s transit potential.
Partnership Fund summed up a visit to China
Publish Time: 2017-09-25 12:20:00
Director of the Partnership Fund summed up a visit to China.Within the frame of official visit, Georgian delegation met with representatives of China's ruling party and business representatives.Also, Georgian delegation participated in International Road Summit and several business forums.
GNERC to decide whether or not consumer tariff for electricity and water supply increases
Publish Time: 2017-09-22 12:18:00
Georgian National Energy Regulation Commission (GNERC) will hold a session today. It will be decided whether or not tariff for electricity and water consumption increases. GNERC will have to adjust the tariff for four companies producing the electricity.
PM - We are creating efficient multimodal transit infrastructure which will forge links and processes, and will cement relationships among states and people from Europe to Asia
Publish Time: 2017-09-22 04:47:00
"We are committed to upgrading Georgia's infrastructure. This is important for Georgia to realize its geostrategic aim to serve as a hub for doing business in the region, connecting East and West. Upgrading infrastructure is essential to ensure the rapid delivery of services, achieve efficiency in tourism and logistics, and effectively take goods to market. We see this as a powerful way to create employment that pulls people out of poverty. We have agreed to a multi-year program with the IMF and secured financing for projects worth several billion dollars from international financial organizations", - Georgia's Prime Minister Giorgi Kvirikashvili said in his speech delivered at the 72nd session of the UN General Assembly. "Georgia - together with Ukraine and Moldova - has signed an Association Agreement with Deep and Comprehensive Free Trade Area and achieved visa-free travel to the EU. At the same time, Georgia has become the first country in the region to sign a Free Trade Agreement with China. On the one hand, we are integrating into the EU internal market and, on the other hand, we are bringing Asian markets closer to us. This enables Georgia to use the full potential of its free trade networks as part of one of the most exciting development ventures of our time.We are contributing to the One Belt One Road project, which will facilitate trade in high-value goods and services between Europe and Asia, carving significant time from traditional seaborne transport around the peripheries of Eurasia.Asia and Europe will meet in this grand adventure through the Baku-Tbilisi-Kars railway project, which we are implementing together with our Turkish and Azerbaijani partners, and Georgia's new state-of-the-art port on the Black Sea at Anaklia. This deep water port will be capable of handling the largest container ships, which will result in a multifold increase of Georgia's cargo transit capacity. Anaklia will be developed by multiple international players and will be operated by a renowned American company.Georgia is now less than 10 days from East Asia and within five days of any point in Europe. We are creating efficient multimodal transit infrastructure which will forge links and processes, and will cement relationships among states and people from Europe to Asia. It represents the fundamental connection between building economic stability for Georgians and achieving a more prosperous and peaceful region", - Prime Minister said.
EUR Official Rate against GEL for September 22 - 2.9546
Publish Time: 2017-09-21 17:02:00
According to the National Bank of Georgia, the exchange rate for Euro against Lari will be 2.9546 on September 22. The exchange rate for Euro against Lari is 2.9746 today.
USD Official Rate agains GEL for September 22 - 2.4808
Publish Time: 2017-09-21 17:00:00
According to the National Bank of Georgia, the exchange rate for USD against Lari will be 2.4808 on September 22.The exchange rate for USD against Lari is 2.4778 today.
Minister of Finance met with the Executive Director of the Asian Development Bank (ADB)
Publish Time: 2017-09-21 12:19:00
First Vice-Prime Minister of Georgia, Minister of Finance Mr. Dimitry Kumsishvili met with the Executive Director of the Asian Development Bank (ADB) The two sides discussed current and future projects of the Asian Development Bank in Georgia.It was noted, that Asian Development Bank (ADB) is one of the largest development partners for Georgia whose portfolio is more than 2.1 billion dollars, Including private sector and technical support.The two sides focused on the strategy of the Bank's activities over the next few years.
Giorgi Gakharia Delivered Speech at China International Investment Forum
Publish Time: 2017-09-18 18:17:00
Minister of Economy and Sustainable Development of Georgia is paying a visit to the People’s Republic of China. Within the frames of the visit, Giorgi Gakharia delivered speech at the China International Investment Forum 2017.The Minister highlighted the attractive investment climate in Georgia and the country’s transit role in the region. Giorgi Gakharia stressed that due to its strategic location, Georgia can become the main platform of the Silk Road initiative and the bridge between the East and the West.The Minister also spoke about those trade agreements that have been recently signed by Georgia with the European Union, the EFTA countries, China and Turkey. According to him, the negotiations on the Free Trade Agreement with Hong Kong and India will be launched in the nearest future.As you know, Georgia has a wide net of Free Trade Agreements, including the Agreements with the EU, China, the European Free Trade Association Countries, the CIS countries and Turkey. We recently signed a Free Trade Agreement with China and accomplished negotiations on the Free Trade Agreement with Hong Kong. With all the signed Free Trade Agreements, we have a free access to the one third of the world’s market – Giorgi Gakharia noted.According to the Minister’s assessment, due to its strategic position on the crossroads of Europe, Asia and the Middle East, Georgia has a potential to become a key platform for the ‘Belt and Road’ initiative and a bridge between the East and the West. Consequently, the Georgian Government pays particular attention to the strengthening of the country’s transit function and establishing it as a regional hub for trade and logistics, – Giorgi Gakharia said.
EUR Official Rate against GEL for September 19 - 2.9561
Publish Time: 2017-09-18 16:48:00
According to the National Bank of Georgia, the exchange rate for Euro against Lari will be 2.9561 on September 19. The exchange rate for Euro against Lari is 2.9467 today.
USD Official Rate agains GEL for September 19 - 2.4727
Publish Time: 2017-09-18 16:45:00
According to the National Bank of Georgia, the exchange rate for US against Lari will be 2.4727 on September 19.The exchange rate for US against Lari is 2.4663 today.
Minister of Economy and Sustainable Development of Georgia discussed Georgia's role as a transit country at CIFIT
Publish Time: 2017-09-18 16:15:00
Minister of Economy and Sustainable Development of Georgia delivered a speech at 2017 China International Fair for Investment and Trade (CIFIT) in Xiamen, China.Giorgi Gakharia emphasized the investment environment in Georgia and Georgia's role as a transit country.
2017 China International Fair for Investment and Trade (CIFIT) in Xiamen, China
Publish Time: 2017-09-18 12:21:00
2017 China International Fair for Investment and Trade (CIFIT) opened in Xiamen, ChinaGeorgia is invited as an honorary guest. 120 Georgian companies are involved in the exhibition.
Mikheil Janelidze held a meeting with Boston business delegation
Publish Time: 2017-09-16 12:11:00
Vice-Premier of Georgia, Minister of Foreign Affairs Mikheil Janelidze held a meeting with the members of Boston business delegation. Delegation is paying a visit to Georgia.The sides discussed the possibility of active entering of foreign companies into Georgian market as well as promotion of successful functioning of Georgian companies in international markets, which represents an important priority for the foreign economic policy of the country.The delegation also held meetings with the representatives of relevant state agencies and business sector.The visits of business delegations from Israel, South Africa, Italy, Serbia and India are scheduled for the end of September in Georgia.
Budget report 2017 - Deputy Minister of Finance has responded to criticism
Publish Time: 2017-09-15 20:07:00
Bonuses, bureaucratic expenditures, ecological policy of the country: Deputy Minister of Finance of Georgia visited Parliament on September 15 to hear and answer the opposition's acute questions. Giorgi Kakauridze presented the budget report of the first six months of 2017 at the Parliamentary Minority sitting. The noisy discussion continued at the sitting of the Sector Economy and Economic Policy Committee where the legislative package about National Bank of Georgia was discussed with the first hearing. The parliamentary majority criticized the changes and noted that there are several issues they do not agree with, including granting immunity to the member of National Bank of Georgia. According to MPs, the project should reflect the complaints of citizens concerning to the fines based on bank loans.
EUR Official Rate against GEL for September 16 - 2.9467
Publish Time: 2017-09-15 18:22:00
According to the National Bank of Georgia, the exchange rate for Euro against Lari will be 2.9467 on September 16. The exchange rate for Euro against Lari is 2.9281 today.
Minister of Finance comments on Lari Depreciation
Publish Time: 2017-09-15 18:17:00
Georgian Lari depreciated. The exchange rate is now 1 US dollar to 2.47 GEL. Minister of Finance commented on Lari Depreciation. According to Dimitri Kumsishvili, the inflow of foreign currency from tourism and export increased, which reflected on the improvement of tax balance. Minister of Finance said that the course is floating and it is difficult to predict exchange rate for Lari against US.
USD Official Rate agains GEL for September 16 - 2.4663 GEL
Publish Time: 2017-09-15 18:15:00
According to the National Bank of Georgia, the exchange rate for US against Lari will be 2.4663 on September 16. The exchange rate for US against Lari is 2.4604 today.
Dimitry Kumsishvili met with the Vice-President of the World Bank
Publish Time: 2017-09-15 16:10:00
First Vice-Prime Minister of Georgia, Minister of Finance Mr. Dimitry Kumsishvili met with the Vice-President of the World Bank.The two sides discussed the macroeconomic situation of Georgia as well as the priority directions towards the World Bank.Late afternoon, National Parliamentary Library of Georgia will host the forum dedicated to the 25th anniversary between Georgia and World Bank relations.
First hearing: The legislative package about National Bank of Georgia was discussed
Publish Time: 2017-09-15 16:07:00
The legislative package about National Bank of Georgia was discussed at the sitting of the Sector Economy and Economic Policy Committee with the first hearing.The parliamentary majority criticized the changes and noted that there are several issues they do not agree with, including granting immunity to the member of National Bank of Georgia. Herewith, Levan Koberidze said that the policy of the National Bank is incomprehensible with regard to the financial market.