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an.-May. 2021: Georgian domestic exports up 24.4%

an.-May. 2021: Georgian domestic exports up 24.4%

Georgia exported locally produced goods worth $1.53 billion in January-May 2021, which is 24.4% higher year-on-year, announces the National Statistics Office of Georgia (Geostat). “The share of domestic exports (export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) in total exports constituted 73.1% and […]

Europe’s Biggest Solar Panels Manufacturing Plant Opens at HUALING Free Industrial Zone

Europe’s Biggest Solar Panels Manufacturing Plant Opens at HUALING Free Industrial Zone

The Europe’s biggest solar panels manufacturing company has launched operation in Hualing Free Industrial Zone. German brand AE Solar has been successfully operating in Georgia for 3 years. Recently, the company opened the Europe’s biggest solar panels manufacturing enterprise at Hualing FIZ. The annual output of the enterprise makes up 500 megawatts, while the company’s […]

EBRD Allocated Additional Fund for Reconstruction of Enguri HPP

EBRD Allocated Additional Fund for Reconstruction of Enguri HPP

The European Bank for Reconstruction and Development (EBRD) is allocating €10 million for the reconstruction of Georgia’s Enguri Hydro Power Plant (HPP). The EBRD allocated €28 million in 2018 for the reconstruction of the power plant but then it was discovered that an additional €10 million was needed for the project, said Deputy Finance Minister […]

Export Volume hit Record-High Indicator in January – 10% Increase

Export Volume hit Record-High Indicator in January – 10% Increase

Export volume hit a record-high indicator in January 2020 with 262.6 MLN USD (i.e. 10% increase compared to the respective period of the past year). Export volumes have never been so high in January of any previous year before; Export as net of re-export (export of domestically produced commodities) constitutes to 67.4% of total export. […]

Tobacco Excise Budget Received 724 Million GEL

Tobacco Excise Budget Received 724 Million GEL

Vano Machavariani spoke about the taxation of tobacco and tobacco products in the Parliament within the Minister’s hours. The Minister noted that it would be impossible to have a fair business environment if the taxation of different businesses operating in one area would be different. He said that last year this legislative gap was rectified […]

EBRD and GCF to fund Renovation of Subway Cars by EUR 60 Million

EBRD and GCF to fund Renovation of Subway Cars by EUR 60 Million

EBRD reviewed the concept of Tbilisi Metro Project. According to the document published on EBRD’s official website, the provision of a sovereign loan is up to EUR 60 million to Georgia, expected to be co-financed by the EBRD and the Green Climate Fund (the “GCF”). The loan will be on-lent to the city of Tbilisi […]

The Service-oriented Economy is Unable to Attain Inclusive Growth – Experts about the Economy Minister’s Statement

The Service-oriented Economy is Unable to Attain Inclusive Growth – Experts about the Economy Minister’s Statement

The government of Georgia will enhance economic stability and maintain inclusive economic growth, thanks to an appropriate fiscal policy and core structural reforms, Economy Minister Natia Turnava noted at a meeting with members of the International Monetary Fund (IMF) mission. For many years, the authorities have kept assuring us that inclusive economic growth is a […]