GEORGIAN PARLIAMENT APPROVED WRITE-OFF OF TAX ARREARS OF INDIVIDUALS AND GRANTED TAX BENEFITS UPONTRANSFER OF OFFSHORE COMPANIES’ ASSETS TO GEORGIA

Today, Georgian Parliament approved amendments to the Tax Code in third (final) hearing (73 votes pro, 9 votes against).

The amendments write-off existing tax debts of individuals that arose before January 1, 2021, as well as accrued penalties. More...

IN MARCH, GEORGIA’S INDUSTRIAL PPI INCREASED BY 4% Y-O-Y

In March, Georgia’s industrial producers price index (PPI) increased by 4% compared to the same period in 2023, Sakstat reported. If compared to previous month (February 2024), the PPI has increased by 1.2%. More...

IN MARCH, GEORGIA’S PPI IN TRANSPORT AND WAREHOUSING DECREASED BY 0.7% Y-O-Y, WHILE INCREASED IN TEMPORARY ACCOMMODATION AND BY 4.5% AND BY 0.3% – IN TELECOM SERVICES

In March, Georgia’s producer price index (PPI) in transport and warehouse services decreased year-on-year by 0.7%, Sakstat reported. If compared to previous month (February 2024), the PPI in this field has increased by 1%. More...

IN MARCH, GEORGIA’S EXPORT PRICE INDEX INCREASED BY 3.2% YEAR-ON-YEAR, IMPORTS – BY 0.6%

In March, Georgia’s export price index increased by 3.2% compared to the same period of 2023, Sakstat reported. If compared to previous month (February 2024), the index has increased by 3.1%. More...

IN Q1, GEORGIA’S EXPORTS TO EU DECREASED BY 37.7% Y-O-Y, IMPORTS FROM EU INCREASED BY 12%

In the 1^st quarter, Georgia’s commodity exports to EU countries totaled to $133.22 million, Sakstat reported (estimation). If compared to the corresponding period of 2023, the volume has decreased by 37.7%. More...

IN Q1, GEORGIA’S EXPORTS TO CIS INCREASED BY 2.8% Y-O-Y, IMPORTS FROM CIS DECREASED BY 13%

In the 1^st quarter, Georgia’s commodity exports to CIS countries totaled to $879.4 million, Sakstat reported (estimation). If compared to the corresponding period of 2023, the volume has increased by 2.8%. More...

IN Q1, GEORGIA’S LOCAL EXPORT DECREASED BY 21% Y-O-Y

In January-March, Georgia’s local commodity export (export without re-export) totaled to $605.6 million, Sakstat reported (estimation). If compared to the corresponding period of 2023, the volume has decreased by 21%. More...

GEORGIAN PREMIER AND EIB REGIONAL REPRESENTATIVE DISCUSSED COOPERATION ISSUES

Today, Georgia’s Prime Minister Irakli Kobakhidze met with Maciej Czura, head of regional representation of the European Investment Bank (EIB) in the South Caucasus.

As administration of the Georgian government said, the parties discussed issues of cooperation and macroeconomic trends in Georgia. More...

Netgazeti.Ge: ““KREMLIN-INSPIRED LEGISLATION” – WASHINGTON HAS AGGRAVATED RHETORIC”

“We are gravely disappointed by the Georgian parliament’s decision” to return to consideration of the bill “On Transparency of Foreign Influence”, US State Department Speaker Matthew Miller said in a statement.

As the statement reads, “Such Kremlin-inspired legislation is not appropriate if the goal is to promote transparency”. More...

Tabula: “OFFSHORE LAW HASTILY TAILORED FOR IVANISHVILI: FEAR OF SANCTIONS?”

Georgian Parliament considers a bill, after the adoption of which an offshore company will be able to avoid taxation upon transfer of assets (including shares) to Georgia.

Giga Bedineishvili, dean of the Business School of Free and Agrarian Universities, believes that “this is a law tailored for Ivanishvili” (billionaire founder of the ruling Georgian Dream). More...

Tabula: “CRAMON: IVANISHVILI PREPARES TO TRANSFER MONEY TO GEORGIA IN CASE OF SANCTIONS”

Many suspect that the government will massively falsify the upcoming (in October) elections, which in turn will trigger sanctions against Bidzina Ivanishvili (billionaire founder of Georgia’s ruling party Georgian Dream), German MEP Viola von Cramon posted on social platform X.

Cramon considers that Ivanishvili takes precautions in order to get his money back to Georgia in case of sanctions. More...

Bankebi da Finansebi: “CRITICAL INCONSISTENCIES IDENTIFIED IN 24 CATERING FACILITIES – NFA”

In the 1^st quarter, more than 600 catering facilities were checked countrywide, including up to 200 ones in Tbilisi, Georgian National Food Agency (NFA) reported.

According to the Agency, these inspections identified critical inconsistencies in 24 catering facilities, 14 of which are located in Tbilisi. More...

GEORGIAN ECONOMIC CLIMATE (Q1, 2024)

“Georgian Economic Climate” is a product of PMC Research Center (PMC RC). In this bulletin, which is based on the ifo Institute’s methodology, we discuss Georgia’s economic climate, informed by the assessments of various Georgian economists. More...