In January, 2018 trade turnover with EU countries increased by 6.6 percent year-on-year and amounted to $211.5 million, shows the preliminary data from the National Statistics Office of Georgia.
Archives for Georgia
Georgia’s economic activity performed better than expected, concludes the International Monetary Fund mission, which visited Georgia last week to discuss recent economic and financial developments and progress in structural reforms.
World leading Swiss rail company Stadler Rail AG will construct a carriage-building and repair plant in the outskirts of Tbilisi, Georgia.
The United States Agency for International Development (USAID) is launching a new three-year energy program in Georgia to support the development of energy market in the country.
On February 2, the European Union and the World Bank jointly launched the Economic Policy Support Project, which aims to boost economic growth and increase incomes for the citizens of Belarus.
On February 6, the Board of Directors of European Investment Bank unanimously approved the financing of Nenskra Hydropower Plant (Georgia) project, with the issuance of a loan of US $150 million.
EU has launched its "Mayors for Economic Growth” project in Bolnisi, Gori and Tbilisi municipalities and has allocated €1.4 million for the implementation of the project.
About the Index of Economic Freedom 2018 The principles of economic freedom are measured in the Index of Economic Freedom, an annual guide published by The Heritage Foundation, Washington’s No. 1 think tank. For over twenty years the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries. The 2018 Index measures economic freedom based on 12 quantitative and qualitative factors, grouped into four broad categories, or pillars, of economic freedom: Rule of Law (property rights, government integrity, judicial effectiveness) Government Size (government spending, tax burden, fiscal health) Regulatory Efficiency (business freedom, labor freedom, monetary freedom) Open Markets (trade freedom, investment freedom, financial freedom) Each of the twelve economic freedoms within these categories is graded on a scale of 0 to 100. A country’s overall score is derived by averaging these twelve economic freedoms, with equal weight being given to each. Rank Country Overall Change Mostly free 7 Estonia 78.8 -0.03 16 Georgia 76.2 +0.2 19 Lithuania 75.3 -0.5 28 Latvia 73.6 -1.2 Moderately free 67 Azerbaijan 64.3 +0.7 78 Kyrgyzstan 62.8 +1.7 41 Kazakhstan 69.1 +0.1 44 Armenia 68.7 -1.6 Mostly unfree 105 Moldova 58.4 +0.4 106 Tajikistan 58.3 +0.1 108 Belarus 58.1 -0.5 150 Ukraine 51.9 +3.8 152 Uzbekistan 51.5 -0.8 Repressed 169 Turkmenistan 47.1 -0.3 Source
As agreed between Georgian Prime Minister Giorgi Kvirikashvili and European Commissioner for Trade Cecilia Malmström during the meeting at the European Commission, Brussels, the European Union is considering the possibility of accrediting Georgian businesses, and relevant procedures will start soon.