IN DECEMBER 2019, LIVING WAGE INCREASED BY 11.3% Y-O-Y

Sakstat reported that living wage of Georgian average consumer in December 2019 made up 172.5 lari.

If compared with the same period of 2018 (155 lari), this showing has increased by 11.3%. More...

NDI SURVEY: 53% OF RESPONDENTS CONSIDER THAT GEORGIA DEVELOPS IN WRONG DIRECTION

National Democratic Institute (NDI) released results of its survey, conducted in Georgia, according to which 53% of respondents consider that the country develops in wrong direction. Opposite perception (the country develops in right direction) have 19%, while 24% consider that the country does not develop at all. More...

PRIME MINISTER ABOUT CHANGES IN THE GOVERNMENT: DO NOT HURRY, LET’S WAIT FOR THE FINAL AND SEE THAN

“Do not hurry, let’s wait for the final and see than”, Georgia’s Prime Minister Giorgi Gakharia responded today so journalists’ question, whether change of the government’s head is planned soon.

“You ask so persistently, do you really want that I tell spoilers to you?”, the Premier declared. More...

AS OF DECEMBER 2019, DEBIT CARDS DECREASED IN NUMBER BY 9.3% Y-O-Y, CREDIT CARDS – BY 16%

National Bank of Georgia reported that as of December 31, 2019, there were 6.1 million banking debit cards in circulation in the country. The number has increased by 1.4% quarter-on-quarter, but decreased by 9.3% year-on-year. More...

IN FINLAND, GEORGIA WAS NAMED “TOURIST DESTINATION OF THE YEAR”

Georgian National Tourism Administration reported that at the international exhibition “MATKA Nordic Travel Fair”, held in Finland’s capital Helsinki, Georgia was named “tourist destination of the year”.

The Administration noted that it participates in this exhibition already for the third time. More...

IN 2019, FUEL IMPORT DECREASED BY 0.26%

Georgian Union of Oil-Products Importers reported that for 2019, Georgia’s import of petrol and diesel fuel totaled to 1.1 million t. If compared with the previous year, the volume has decreased by 0.26%, the Union noted. More...

IN GARDABANI, 230-MW THERMAL POWER PLANT OPENED

Gardabani Thermal Power Plant-2, having installed capacity of 230 MW, was opened today in Gardabani (about 45 km southeast from Tbilisi).

The plant was built through investment of $180 million by Georgian Oil and Gas Corporation. More...

WITHIN “PRODUCE IN GEORGIA”, METALWORKS ENTERPRISE TO BE LAUNCHED IN RUSTAVI

Georgian National Agency of State Property declared that within the “Produce in Georgia” state program, metalworks enterprise will be launched in Rustavi (in the industrial zone). Investments in the enterprise exceed 2.5 million lari, the Agency said. More...

Kviris Palitra: “INVENTORY OF “SHADOW ECONOMY” IS TO START”

This year, Sakstat plans to conduct study of not observed economy in two sectors – education and real estate.

Georgian statistics service considers that volume of not observed, i.e. shadow economy in these two sectors (activity of private tutors and apartments leasing) can be quite big, while total share of shadow economy can reach about 13%, the article specifies. More...

Forbes Georgia: ““RMG” HOLDING OF RUSSIAN BILLIONAIRES”

Referring to reporting of RMG Gold (precious metal mining), the magazine reports that income of the company in 2018 amounted to 209.95 million lari. If compared with 2017, the volume has increased by 5.1%. More...

Bankebi da Finansebi: “TAMAR ZHVANIA GOT 800,000 LARI IN 2013-2019, OF WHICH 300,000 WERE BONUSES AND SUPPLEMENTS”

Media project Detector of Wastes reported that chair of Georgian Central Election Commission Tamar Zhvania received 798,602 lari as compensation in 2013-2019. Out of this sum, 299,000 lari were bonuses and supplements. More...

Bankebi da Finansebi: “INSURANCE SECTOR FACES UNSOLVED CHALLENGES – LAW ON OBLIGATORY INSURANCE “GOT STUCK” IN THE PARLIAMENT”

Devi Khechinashvili, chairman of board at Georgian Insurance Companies Association, says that fate of the law “On Car Owners’ Liability Insurance” is still unclear.

The bill of obligatory liability insurance of car owners was submitted in the country’s Parliament at the end of 2018, but even its consideration is not started yet, the newspaper notes. More...

MONTHLY TOURISM UPDATE (OCTOBER 2019)

- After GDP recalculation based on 2008 system done by the National Statistic Office of Georgia, Share of non-observed economy in the total economy has increased from 8.3% to 13%, while share of non-observed part in Hotels and Restaurants sector has increased from 9.2% to 54.3%;

- According to revised GDP, since 2010 hotels and restaurants sector has increased by 369%, outperforming other sectors twofold;

- Largest share of tourist expenditures (31.5%) is spent on foods and drinks, while only 24.6% is spent on accommodation;

- In October 2019, compared to September 2019, average prices for hotels have decreased by 5.9%;

- In October 2019, compared to the same period of 2018, average prices for hotels have decreased by 5.2%;

- In the third quarter of 2019, compared to the same period of 2018, total tourist expenditure has increased by 4.1%;

- In spite the ban on the Russian flights in July of this year, in August 30% more Russians visited Georgia compared to the previous month. Compared to August, in October 43.1% less Russians have visited Georgia. More...