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DAILY NEWS June 12, 2024

GEORGIAN PREMIER: US SANCTIONS ARE NOT SERIOUS AND OFFENSIVE TO OUR COUNTRY AND PEOPLE

“US sanctions are not serious, but along with non-seriousness, sanctions offend our country and people”, Georgia’s Prime Minister Irakli Kobakhidze declared to journalists. “This also does not correspond to the spirit of partnership”, he said, expressing the hope that “in the end, everything will be revised”. More...


GEORGIAN PREMIER: OUR SOLIDARITY WITH UKRAINE, WITH UKRAINIAN PEOPLE IS VERY STRONG

Our solidarity with Ukraine, with Ukrainian people is very strong, declared Georgia’s Prime Minister Irakli Kobakhidze at Ukraine Recovery Conference (URC2024, June 11-12, Berlin). This solidarity is expressed in political, diplomatic, humanitarian support, he said. More...


TBILISI CITY HALL: TBILISI TO HAVE STATUS OF EUROPEAN SPORTS CITY IN 2025

In 2025, Tbilisi will have status of a “European Sports City”, Tbilisi City Hall declared. As the City Hall said, the corresponding decision was made today by the European organization ACES Europe, which commission is visiting Georgia now. More...


GEORGIA TO SUSPEND DEMAND OF COMPULSORY HEALTH AND ACCIDENT INSURANCE FOR TOURISTS UNTIL 2026

Georgia’s law “On Tourism” demands compulsory health and accident insurance for tourists coming to the country. However, amendments adopted by the Parliament in first reading today envisage suspension of this demand until January 1, 2026. More...


GEORGIAN PARLIAMENT ADOPTED LAW “ON AGRICULTURE AND RURAL DEVELOPMENT”

Today, the Georgian Parliament adopted in third (final) reading the draft law “On Agriculture and Rural Development”. The main part of the document will enter into force on January 1, 2025. More...


“SAKARTVELOS BANKI” TO PAY DIVIDENDS OF 9.7 LARI PER SHARE FROM PROFIT FOR 2023

On June 26, general annual shareholders meeting of Sakartvelos Banki (Bank of Georgia) will be held, one of the issues on which agenda is distribution of profit for 2023 (payment of dividends). Holders of 27.9 million voting shares were invited to the general meeting. More...


BONDS OF MAY EMISSION OF “TEGETA MOTORS” ADMITTED TO LISTING OF GEORGIAN STOCK EXCHANGE

Since June 11, bonds of LLC Tegeta Motors (car dealer) have been admitted to category A listing and the trading system, the Georgian Stock Exchange reported. Bonds with 2-year maturity were issued on May 2. More...


FORMER SANATORIUM IN TSKALTUBO IS AUCTIONED FOR 5.1M LARI

As part of the investment project “New Life of Tskaltubo”, Georgian National Agency of State Property brought former sanatorium Rkinigzeli (Railroader) in Tskaltubo on electronic auction. The auction will expire on June 21. More...


ECONOMIC PRESS MONITOR June 13, 2024

Forbes Georgia: “ACCORDING TO WORLD BANK FORECAST, GEORGIA’S ECONOMY WILL GROW THIS YEAR BY 5.2%”

Updated forecast of the World Bank (WB) sees Georgia’s economic growth in 2024 at 5.2%. Previous forecast envisaged 4.8%. More...


Forbes Georgia: “BY RAPID GROWTH OF DISPOSABLE INCOME, BATUMI AND ZUGDIDI ARE IN THE TOP TEN OF THE RATING – “EUROMONITOR””

Report by the global market research company Euromonitor International places Batumi on 7th place, while Zugdidi on 8th place in terms of rate of growth in disposable income per capita. The report covers the period 2018-2023. More...


Tabula: “TURNAVA CALLS DEVALUATION OF LARI “AGIOTAGE CREATED FROM NOTHING””

Depreciation of lari is caused by negative expectations, declared acting president of National Bank of Georgia (NBG) Natia Turnava. These expectations “developed against the background of various incorrect information, statements by engaged experts, statements by irresponsible politicians”, she said on the air of Imedi TV company. More...


Rezonansi: “IN THE REMAINING MONTHS OF THE YEAR, INFLATION WILL RISE SIGNIFICANTLY AND PEOPLE WILL FEEL IT”

During adoption of the law “On Transparency of Foreign Influence” in Georgia, lari rate dropped from 2.67 GEL/USD to 2.87 GEL/USD, and could approach the mark of 2.9 GEL/USD, the newspaper says.

In the remaining period of the year, general price index is likely to exceed 3%, though due to low inflation in previous months, the average annual index will be below the target, the article indicates. More...


SPECIAL REPORT June 6, 2024

AVERAGE HOTEL PRICES AND HOTEL PRICE INDEX IN GEORGIA (MAY 2024)

In Georgia, the average cost of a room1 in a 3-star hotel was 157 GEL per night in May 2024, while the average cost of a room in a 4-star hotel in Georgia was 252 GEL per night and the average cost of a room in a guesthouse2 was 118 GEL per night.

The average cost of a room in a 5-star hotel in Georgia in May 2024 was 425 GEL per night. More...


Exchange Rates (NBG)
  06/13/24 + / -
  USD   2.8693   0.0029
  EUR   3.0991   0.0157
  RUR   3.2665   0.0577
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