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Updated: 2 days 7 min ago

Considering inflation, the average salary increased by only 29 GEL

Fri, 09/02/2022 - 20:05
Tbilisi (GBC) - In the II quarter of 2022, average monthly remuneration of employed persons equaled to 1 625.8 GEL (year-on-year increase by 236.2 GEL) while remuneration of employed women made up 1 267.0 GEL (year-on-year increase by 168.6 GEL).

Inflation Made Up 10.9%

Fri, 09/02/2022 - 20:04
Tbilisi (GBC) - In August 2022 the Consumer Price Index increased by 0.1 percent compared to the previous month, while the annual inflation rate amounted to 10.9 percent. With regard to the annual core inflation1 , the prices increased by 7.0 percent, while the annual core inflation without tobacco2 also amounted to 7.0 percent.

131.4 million GEL was spent on growing annual crops

Fri, 09/02/2022 - 20:03
Tbilisi (GBC) - 8,651 loans worth 131.4 million GEL have been issued since March 22 to promote the cultivation of annual crops in Georgia within the framework of the state project "Concessional Agro Credit". The Ministry of Environment Protection and Agriculture disseminates information about this.

Wizz Air will fly from Tbilisi Airport From October 10 -24

Fri, 09/02/2022 - 20:02
Tbilisi (GBC) - From October 10-24, due to the planned runway repair works at Kutaisi International Airport, Wizz Air will temporarily operate from Tbilisi International Airport. The Union of Georgian Airports disseminates information about this.

Participants of the energy market are ready to go to Energy Exchange - Problem is the geopolitical situation

Thu, 09/01/2022 - 11:44
Tbilisi (GBC) - Director of Energy Exchange, Irina Milorava, evaluates the delay in launching the energy exchange market and states that this decision was made by the government on the basis of relevant arguments. According to him, the exchange itself and market players are fully ready to switch to exchange principles.

72% of people receiving Georgian citizenship are Russian citizens

Thu, 09/01/2022 - 11:43
Tbilisi (GBC) - In 2018-2022, 72% (6,075 persons) of 8,464 persons who received Georgian citizenship (except for cases of restoration of citizenship) were Russian citizens. According to the IDFI research, after Russia, the most (428 people) were citizens of Ukraine, 404 people - citizens of Armenia, and 330 - citizens of the United States of America.

The Right On Metallurgical Production Was Suspended to LLC Molds and Metals Georgia

Thu, 09/01/2022 - 11:42
Tbilisi (GBC) - The Department of Environmental Supervision of the Ministry of Environment Protection and Agriculture suspended the metallurgical production right of "Molds and Metals Georgia" LLC located in the city of Poti, due to the violation of the "Environmental Assessment Code", after the entry into legal force of the court's decision.

Wizz Air will expand its activities on the Georgian air market

Thu, 09/01/2022 - 11:41
Tbilisi (GBC) - Mariam Kvrivishvili, the Georgian Deputy Minister of Economy and Sustainable Development, met representatives of the Hungarian budget airline Wizz Air on Thursday in the Georgian capital of Tbilisi to discuss plans for the next year and prospects for additional flights to Georgia, the Economy Ministry said.

Galt&Taggart Expects GEL to remain close to 3.0 vs USD through end-2022

Thu, 09/01/2022 - 11:40
Tbilisi (GBC) – According to Galt&Taggart, The GEL rose to 3-year high vs dollar on August 12, but weakened after, losing 7.5% at end-August (but still 6.0% stronger year-to-date). Amid robust external inflows, recent depreciation is likely related to expectations of GEL’s seasonal weakness in 4Q. We expect GEL to remain close to 3.0 vs USD through end-2022.

The NBG: inflation will return to the target rate by the end of 2023

Thu, 09/01/2022 - 11:39
Tbilisi (GBC) - According to the forecast of the National Bank, inflation in Georgia will return to the target rate by the end of 2023. The National Bank of Georgia (NBG) assumes that inflation should decrease from the third quarter of this year (July-September), although it will still be double-digit at the end of the quarter. At the end of the year, it is expected that the growth rate of prices will be within 10%.

Cheese export is becoming interesting - the increase is 72%

Wed, 08/31/2022 - 00:24
Tbilisi (GBC) - In January-July, 97 tons of cheese worth $714.1 thousand were exported from Georgia, which in monetary terms is 72% more than the figure of the same period of the previous year (2021 January-July: 55.4 tons of $414.6 thousand).

NFA destroyed 10 tons of harmful meat

Wed, 08/31/2022 - 00:23
Tbilisi (GBC) - The employees of the National Food Agency (NFA) destroyed up to 10 tons of harmful meat removed from trade and production facilities operating in the territory of Georgia in July-August, Deputy Head of the National Food Agency Vasil Basiladze said at the press conference on Wednesday.

Turnover of VAT Payer Enterprises increased by 26.5%

Wed, 08/31/2022 - 00:23
Tbilisi (GBC) - In July, compared to the same period of the previous year, the number of newly registered enterprises in Georgia increased by 33%. If the number of enterprises registered in July last year was 4270, this year the number was determined by 5681, - according to Geostat.

Georgia's GDP growth rate reaches 9.7% in July 2022

Wed, 08/31/2022 - 00:23
Tbilisi (GBC) - The estimated real Gross Domestic Product (GDP) growth rate in July 2022 amounted to 9.7 percent YoY and 10.3 percent in January-July of 2022 YoY, the National Statistics Office of Georgia (GeoStat) said on Wednesday.

Mobile operators’ revenues are at their highest level in recent years

Wed, 08/31/2022 - 00:22
Tbilisi (GBC) - The revenues of mobile operators are at their highest level in recent years. In the first half of the year (January-June), the companies received a total of 312 million GEL income. Only in June, the total income of operators amounted to 57.3 million GEL, which is 11 million GEL - 20% more than the same period of the previous year.

Pension Fund VS Inflation - Pension funds have not been able to beat inflation for the last 1 year

Wed, 08/31/2022 - 00:22
Tbilisi (GBC) - Real pension fund balances can't outpace record inflation. Fund’s revenue has a negative rate for the last 12 months. As of July, the return on the amount placed in the fund is 2.8% below inflation. Nevertheless, according to the data of July only, the sums are in plus and it is 0.19% better than inflation. From the creation of the fund until today - the purchasing power of the money is 0.9% better than inflation.

Caucasus Auto Import - Turkey's decision may increase the price of car transportation

Tue, 08/30/2022 - 16:17
Tbilisi (GBC) – Giorgi Surguladze, Director of "Caucasus Auto Import" told GBC regarding the increase in the price of transportation of goods on the Bosphorus and Dardanelles Straits by the Turkish government, that the new tariffs may also be reflected in the transportation of cars and the cost of bringing each car will increase by about $100.

77% of university entrant became students this year

Tue, 08/30/2022 - 16:15
Tbilisi (GBC) - In 2022, more than 32,100 university entrants gained the right to continue their studies, which is more than 77% of registered applicants.

33% of the crimes committed in Georgia accounted for Tbilisi in July

Tue, 08/30/2022 - 16:15
Tbilisi (GBC) - In July 2022, criminal prosecution was started against 1591 persons in Georgia.

Coal production in Georgia up by 5%

Tue, 08/30/2022 - 16:14
Tbilisi (GBC) – Geostat reports, that the coal imports in Georgia amounted to 39.7 thousand tons in June. Imports increased by 20.7% compared to June of the previous year (June 2021 - 32.9 thousand tons).