Georgia
Georgian MPs want to rid the country of oligarchs, but not all of them
Ruling Georgian Dream party says founder Bidzina Ivanishvil will not fall under new planned bill.
Georgia’s border clogged with thousands of Russians fleeing the Kremlin’s mobilisation
After Vladimir Putin escalated the war in Ukraine with a mobilisation order, thousands of Russians are trying to enter Georgia to avoid being drafted and sent to the front lines in the war in Ukraine.
More pain stored up for Emerging Europe in 2023
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
IMF makes huge revision to Georgian growth forecast
GDP forecast revised from 3.2% to 9% as “expected negative effects of the war in Ukraine have not materialised so far”.
Junked American cars do a roaring business in Georgia
When cars die in the U.S., they often find a second life in the Caucasus.
Campaigners push for rethink of road through Georgia’s historic Khada valley
Opponents of the road project backed by IFIs say it will lower residents’ quality of life and make Georgia more vulnerable to its northern neighbour Russia.
Easing inflation supports hopes for rate cuts by year-end in Georgia
Annual inflation rate eased to 10.9% y/y in August from the peak level of 13.9% in May.
Social media post on Russian ex-president’s account calls Kazakhstan and Georgia ‘artificial creations’
Aide claims Dmitry Medvedev was hacked. Text said territories of the two ex-Soviet states must be returned to Russia.
Georgia’s banks post impressive 1H22 annualised return on equity
Revenues expand 17% y/y to GEL3.4bn while expenses move up 39% y/y to GEL 2.36bn.
Georgia’s exports went up by 25% y/y in June
But trade deficit widened by 19% y/y to $609mn in the month.
Central bank and IMF to upgrade forecasts for Georgia’s economy
Russia's invasion of Ukraine has unexpectedly failed to damp down the country's economic boom.
