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DAILY NEWS February 21, 2024

ISET: IN Q1, GEORGIAN BUSINESS CONFIDENCE INDEX DECREASED BY 0.4 POINTS Q-O-Q

In the 1st quarter, the Business Confidence Index (BCI) has decreased by 0.4 points compared to the 4th quarter of 2023 and amounted to 17.7, declared International School of Economics at Tbilisi State University (ISET). At that, the biggest deterioration (-15.7) was recorded in the trade sector. More...


GEORGIAN FINANCE MINISTER: ASSESSMENT OF BUDGET PROGRAMS WILL BEGIN

In 2023, a public finance management strategy for 2023-2026 was approved in Georgia, which is based on the Public Expenditure and Financial Accountability (PEFA) methodology of 2022, said Georgia’s Finance Minister Lasha Khutsishvili. The new direction of the strategy is assessment of budget programs’ effectiveness, he said. More...


GEORGIAN FINANCE MINISTER: DEBT MANAGEMENT STRATEGY FOR 2024-2027 IS UPDATED

An updated debt management strategy for 2024-2027 will be presented to the Georgian government, said Georgia’s Finance Minister Lasha Khutsishvili, while speaking in the country’s Parliament today.

Key task in both the former and the updated strategies is reduction of currency risks, the Minister indicated. More...


GEORGIAN FINANCE MINISTER: IN 2023, DISPUTE RESOLUTION COUNCIL RESOLVED ABOUT 30% OF COMPLAINTS FULLY OR PARTIALLY IN FAVOR OF TAXPAYERS

In 2023, Dispute Resolution Council received 2,872 complaints, Georgia’s Finance Minister Lasha Khutsishvili reported. The same year, over 2,400 complaints were considered, of which about 30% were completely or partially resolved in favor of the taxpayer, he said. More...


GEORGIAN FINANCE MINISTER: NO VIOLATIONS OF INTERNATIONAL SANCTIONS ARE RECORDED

There are no cases of violation of sanctions (imposed on Russia after the outbreak of war in Ukraine), Georgia’s Finance Minister Lasha Khutsishvili asserts.

The Minister declared this, while speaking in the country’s Parliament today, and reported that 1,795 cases of returning goods from Georgia’s customs border and refusing to conduct customs procedures have been recorded (since introduction of the sanctions). More...


GEORGIA HAS EFFECTIVE DOUBLE TAXATION AVOIDANCE AGREEMENTS WITH 58 COUNTRIES

At the moment, the country has effective agreements on double taxation avoidance with 58 countries, Georgia’s Finance Minister Lasha Khutsishvili reported. In 2023, agreements with Poland and Kyrgyzstan entered into force, he noted. More...


CAREC COUNTRIES DISCUSS FINTECH DEVELOPMENT IN TBILISI

Tbilisi hosts a working meeting of the Central Asian Regional Economic Cooperation (CAREC) Program participant countries (February 21-22). The event focuses on the development of financial technologies (fintech) in the region. More...


GEORGIA AND AZERBAIJAN AGREE ON COOPERATION IN ENERGY REGULATION

Georgian National Energy and Water Regulating Commission and Azerbaijan Energy Regulatory Agency signed a memorandum of cooperation. As the Commission indicated, the subject of cooperation is facilitation to development of energy sector regulation. More...


ECONOMIC PRESS MONITOR February 22, 2024

Rezonansi: “IN ABOUT 12-13 YEARS, GEORGIA WILL REACH TODAY’S LEVEL OF CZECH REPUBLIC AND IN 15-16 YEARS – LEVEL OF GERMANY”

The IMF expects that forecast, Georgia’s income per capita in 2024, adjusted to purchasing power, will make up 45% of the EU median, declared Georgia’s Finance Minister Lasha Khutsishvili, speaking on February 21 in the country’s Parliament.

As an example, the Minister brought Poland, Lithuania, Latvia and Bulgaria, which at the time of accession to the EU “had this showing even lower”. More...


Netgazeti.Ge: “ACCORDING TO KHUTSISHVILI, BRINGING AND SELLING CAR IN RUSSIA DOES NOT VIOLATE SANCTIONS”

There are “concrete materials, which show that Georgia is used as a third country, and sanctioned cars are transported from our country to Russia”, declared opposition MP Khatia Dekanoidze.

Do you have information that transportation of sanctioned cars by individual drivers is not restricted, Dekanoidze asked Georgia’s Finance Minister Lash Khutsishvili, who spoke in the country’s Parliament on February 21. More...


Netgazeti.Ge: ““GEORGIAN WINGS” MADE THE FIRST TBILISI-CHISINAU FLIGHT”

Georgian Wings performed the first regular flight between Tbilisi and Chisinau (Moldova).

According to Georgian Wings president Shalva Kiknadze, flights will be operated twice a week (Tuesdays and Saturdays). More...


SPECIAL REPORT January 23, 2024

EMPLOYMENT TRACKER (DECEMBER 2023)

AVERAGE NUMBER OF PERSONS RECEIVING SALARY

In December 2023, the number of persons receiving a monthly salary increased by 5.9% compared to the corresponding period of 2022 and by 5.8% compared to the corresponding period of 2021.

In December 2023, the share of persons receiving a monthly salary up to 600 GEL amounted to 13.5%, which was 8.7 percentage points less than the corresponding period of 2022, and 5.7 percentage points lower than the corresponding period of 2021. More...


Exchange Rates (NBG)
  02/21/24 + / -
  USD   2.6501   0.0034
  EUR   2.8618   0.0018
  RUR   2.8612   0.0002
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