Economics

Number Of Permissions Granted For The Construction Of Buildings Was Do...

Note that 75.5% of the all permits have been issued in four regions of the country, namely: 47.4% in Tbilisi, 12.9% in Kvemo Kartli region, 8% in Mtskheta-Mtianeti region and 7.2% in Kakheti region.It should be noted that in January-March of 2025, permissions were issued for the construction of multifunctional residential complexes, trade facilities, hotels, industrial enterprises, objects for agricultural purposes, and other buildings.698 objects (17.0 percent less compared to the previous year) with total area of 659.6 thousand square meters (18.1 percent less compared to the previous year) were completed in January-March of 2025.More than two-thirds of the completed constructions are distributed among four regions of the country, namely: 32.5 percent is located in Tbilisi, 14% in Mtskheta-Mtianeti region, 11.3% in Kakheti region, and 9.3% in Shida Kartli region.

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GDP Growth Made Up 9% In March Y-O-Y

In March 2025, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Information and communication, Professional, scientific and technical activities, Financial and Insurance activities, Transportation and storage and Construction.Decline was registered in Manufacturing.

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Demand in Tbilisi residential real estate market remained sluggish – G...

DemandIn Mar-25, the number of sold apartments in Tbilisi, according to the Public Registry, stood at 3,078 units, up by 2.9% y/y, of which:• Sales on the secondary market, which show real-time dynamics, fell by 2.9% y/y.• Sales on the primary market, where data are impacted by delayed registrations, increased by 9.8% y/y, reflecting a one-off effect from the late registrations of previously sold apartments in several projects.According to Galt&Taggart, a real-time survey of developers, which captures current trends on primary market, mirrors the secondary market trend, showing a 11.3% y/y reduction in the number of sold apartments in Mar-25.In total, 9,286 apartments were sold in Tbilisi in 1Q25, bringing the residential market value to US$ 671.7mn (-1.1% y/y).SupplyPermit issuance has regained momentum following the Jan-25 slowdown. In Mar-25, 17 residential construction permits were issued, with total living area reaching 160,975 m2 (+7.3% y/y). Overall, permit issuance in 1Q25 was down 7.4% y/y, yet still elevated compared to levels recorded before 2023.PricesIn Mar-25, the primary market average price per square meter rose by 0.4% m/m, reaching US$1,330. In contrast, the average price on the secondary market (for new buildings built with permits issued after 2013) declined for the 2nd month in a row, falling by 1.9% m/m to US$1,220.RentsIn Mar-25, price for renting an average apartment (50-60 m2 ) in Tbilisi decreased slightly by 0.3% m/m to US$ 9.5 per m² . Rental yield was 8.6%

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Electricity generation down by 16%, while consumption up by 1.3%

According to TBC Capital, the decrease was mainly due to a 52.2% decrease in thermal power plant output and a 22.6% decrease in wind power plant output. At the same time, hydroelectric power plant output increased by 14.4% and reached 831 GWh.Electricity generated by thermal power plants in March amounted to 189 gigawatt hours (GWh), while wind power plant output amounted to 6.5 GWh.In total, electricity generation in 1Q25 decreased by 15.6% (y.y) and amounted to 2,809 GWh.Against this backdrop, in March, consumption increased by 4.2% year-on-year (y.y) to 1,232 GWh. Retail consumption increased by 2.5% to 693 GWh, while direct consumer consumption increased by 16.6% to 285 GWh.Consumption in the Autonomous Republic of Abkhazia decreased by 3.1% to 253 GWh.Year-to-date, in 1Q25, consumption increased by 1.3% to 3,656 GWh, which the investment bank said reflects changes in market supply and demand dynamics.

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The average weighted price of balancing electricity is increasing

On the monthly basis, in March 2025 the price of balancing electricity increased by 1.4%.Georgia continued to import electricity totaling 252 GWh. Import from Russia, Azerbaijan and Armenia was distributed as 72%, 21% and 7%, respectively.In March 2025, Georgia spent approximately USD 4.5 million on imported electricity.

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Georgia's population increased by 0.27%

It should be mentioned that 2024 resulted in the negative natural increase (-4 488) and positive net migration (14 386).As of January 1, 2025, 61.5 percent of the population lives in urban settlements. At the same time, approximately one third of total population lives in Tbilisi.As of January 1, 2025, the share of persons aged 0-14 equals 19.2 percent, the share of the working-age population (15-64 years old) – 64.2 percent, while the share of elderly (65 years and older) – 16.6 percent.As of January 1, 2025, the male population equaled 1 774.5 thousand persons, and the female population was 1 920.1 thousand persons. In Georgia, 48 percent are male and 52 percent are female population.Compared to previous year, in 2024 the life expectancy at birth remains almost unchanged and equals 74.9 years, including 70.5 years for males and 79.3 years for females.As of January 1, 2025, the median age of population equals 39 years.In 2024, the number of emigrants totals 121 425 persons increasing by 50.5 percent compared to the previous year. The number of immigrants increased by 34.0 percent, amounting to 135 811 persons.In the same time period, 85.6 percent of immigrants and 85.8 percent of emigrants represent the working-age population (15-64 year age group).In 2024, 48.2 percent of immigrants and 53.2 percent of emigrants are citizens of Georgia.

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Hazelnut exports from Georgia up by 20%

The average export price of hazelnuts also increased by 13% during the reporting period and amounted to 6.29 USD per kilogram.Georgian hazelnuts are mainly exported to the markets of the European Union, namely Italy, Spain, Germany, France, Poland and the Czech Republic. In addition, hazelnuts were exported to Armenia, China, Turkey, Israel, Russia, Algeria, and Morocco.

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Travel revenue grew by 2.3% in 1Q2025

In terms of international travel revenue in the first quarter of 2025, a high percentage increase was recorded from Azerbaijan - 19.8% and from Saudi Arabia - 12.3%. At the same time, according to statistics, travel revenue from Israel stands out with a high growth rate, which in the first quarter of 2025 showed a 73.7% increase compared to the same period of the previous year and amounted to $114.2 million.The share of EU countries in international travel revenue in the first quarter of 2025 was determined at 12.5% and amounted to $103.2 million.Travel revenue from Russia is characterized by a decreasing trend - in the first quarter of 2025, travel revenue from Russia to Georgia decreased by 17.2%.Georgia's tourism revenue in the first quarter of 2025 is distributed as follows: Azerbaijan - USD 48.6 million Belarus - USD 15.9 million Turkey – USD 107.1 million Iran – USD 27.2 million Israel – USD 114.2 million Russia – USD 141.8 million Saudi Arabia – USD 8.7 million Armenia – USD 28.2 million Ukraine – USD 33.7 million European Union – USD 103.2 million Other countries – USD 197.4 million

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In 1Q2025, 41 companies' wines were tested for certification, while 88...

According to the agency, in the economic free zone, inspections of 29 companies by international audit companies Bureau Veritas and SGS revealed no violations.During this period, state control was implemented in 88 companies, which involves determining compliance of the wine technological process in enterprises with the requirements defined by Georgian legislation.Moreover, out of 127 samples taken, violations were found in 4 samples from 4 companies."Laboratory studies continue on certain portions of the samples," the National Wine Agency reports.For the purpose of organoleptic testing of export alcoholic beverages, 64 tastings were conducted. Out of 2931 samples submitted for tasting, 2822 were evaluated positively, while 109 samples were evaluated negatively. Organoleptic testing of samples is conducted for color and transparency, typicality, presence of diseases, aroma, taste, and harmony.

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Residential Property Price Index change amounted to 57.6% over last 5...

In the first quarter of 2025 a price increase compared to the previous quarter was registered both in flats (2.2 percent) and detached houses (1.8 percent) segments.Compared to the first quarter of 2024, the prices increased in both segments, for flats by 10.9 percent and for detached houses by 13.5 percent.

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GDP Growth Made Up 9% In March Y-O-Y

1746009423 • Economics

Popular

Silk shareholders increased their capital to 102 million GEL

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Volume Of Loans Constituted GEL 63.4 BLN

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Total volume of deposits up by GEL 467.90 MLN

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Loss has increased to Silk Bank

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Eurocredit's income from the pawnshop has decreased

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Politics

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Public Defender echoes investigative actions ongoing in Foundations Ca...

According to Levan Ioseliani, all possible measures must be taken to prevent harm to minors“It should be emphasized that when conducting investigative actions, all possible measures must be taken to prevent harm to minors. For this purpose, the law enforcement agency is obliged to assess the situation in advance and create a safe environment for the minors. And, in case of impossibility of prior consideration, the minor should be promptly removed from the ongoing processes, with the involvement of a family member, relative or trusted person, or if this is not possible, the involvement of a social worker and psychologist should be ensured.The Public Defender will study the above facts and will have all appropriate responses within the scope of his authority,” reads the statement.The police searched the residence of Aleko Tskitishvili, the Executive Director of the Human Rights Centre. Searches were also carried out at the homes of journalist and Nanuka Fund founder Nanuka Zhorzholiani, as well as Mariam Bajelidze, one of the founders of the Sirtskhvilia (Shame) movement.

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Kavelashvili engages with Armenian PM

At the Government Palace of the Republic of Armenia, the leaders discussed the fruitful collaboration between Georgia and Armenia, highlighting their good neighbourly relations and strategic partnership in trade, economy, transport, and culture fields.The Georgian President and the Armenian Prime Minister also addressed regional challenges, emphasizing the importance of peace and stability in the South Caucasus.Mikheil Kavelashvili expressed Georgia’s support for the conclusion of peace negotiations between Armenia and Azerbaijan, describing the agreement as a historic advancement toward enduring peace and stability in the region.He noted that Tbilisi had recently hosted a trilateral meeting with the foreign ministers of Georgia, Armenia, and Azerbaijan, and he expressed hope that cooperation within this framework would persist for the region’s prosperity.In closing, Mikheil Kavelashvili reaffirmed Georgia’s commitment to enhancing regional dialogue and cooperation in the South Caucasus.

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GD Chair Irakli Garibashvili announces retirement from politics

“Today, Georgian Dream stands as a united and strong political force, thanks in large part to our founder and honourary chairman, Bidzina Ivanishvili, who is a guarantor of peace and stability in our country. He successfully consolidated our team during a critical time, maintaining unity while helping us avert major threats to our nation and fostering tangible progress across all sectors.In this context, I believe I have fulfilled the honourable mission assigned to me by our founder and the party, which began with my appointment as Minister of Defence, followed by my second term as Prime Minister, and my election as Chairman. I no longer see a need to remain in this office or politics overall. Therefore, I have decided to step down as Chairman of the Georgian Dream party and retire from politics, choosing instead to serve my country in a different capacity”, - stated Irakli Garibashvili.Irakli Garibashvili was elected Chairman of the Georgian Dream-Democratic Georgia party on February 1, 2024, and served as Prime Minister of Georgia twice: from November 20, 2013, to December 30, 2015, and again from February 22, 2021, to January 29, 2024.

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Shahin evaluates GD’s amendments to the Law on Grants as a step backwa...

“Political leaders shouldn’t fear the Georgian people. Georgian civil society are fiercely independent actors,” Shaheen wrote on X. "The Georgian Dream fast tracking another draft law to stifle NGO operations is one more step away from the democratic future the Georgian people want. Political leaders shouldn’t fear the Georgian people. Georgian civil society are fiercely independent actors." -@SenatorShaheen https://t.co/2ZH0vrj4gY — Senate Foreign Relations Committee (@SFRCdems) April 16, 2025 The Parliament has urgently considered and approved a legislative package in the third reading, after which international donor organizations will no longer be able to issue grants without the consent of the government. The same bill prohibits international organizations from organizing lectures, seminars or other similar public events in favor of political parties.80 deputies unanimously supported the approval of the planned amendments to the Law on Political Associations of Citizens, the Law on Grants and other related laws.

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Azerbaijani media regulator attaches great importance to media relatio...

“It is a great honor and responsibility for us to hold this forum in Baku – a city that unites countries with rich culture, history and traditions and at the same time plays an important role in modern politics,” Sattarov noted.Regarding bilateral cooperation, he noted Azerbaijan’s interest in developing ties with Albania, Bulgaria and Georgia.“Georgia is not just a neighbor and strategic partner, it is a bridge in the Black Sea region,” he noted, and proposed deepening cooperation in the field of media regulation.The forum is attended by about 30 authorized representatives of media regulatory bodies from countries in the region, including Serbia, Romania, Greece, Albania, Bulgaria, Turkey, Moldova, Georgia, and Azerbaijan.