Annual Inflation Rate Down To 2.7% In April

The annual inflation rate was mainly influenced by price changes for the following groups:Food and non-alcoholic beverages: the prices in the group increased by 5.9 percent, contributing 2.04 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (10.8 percent), bread and cereals (9.2 percent), milk, cheese and eggs (10.1 percent), fish (10.9 percent), meat (9.1percent), mineral waters, soft drinks, fruit and vegetable juices (8.7 percent), coffee, tea and cocoa (3.4 percent), sugar, jam, honey, chocolate and confectionery (1.5 percent). At the same time, prices decreased for the subgroup of fruit and grapes (-4.4 percent);Housing, water, electricity, gas and other fuels: the prices for the group posted a 10.3 percent increase, which contributed 1.15 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (31.0 percent), maintenance and repair of the dwelling (4.6 percent);Transport: the prices for the group decreased by 12.9 percent, contributing -1.66 percentage points to the overall index. Within the group the prices decreased for the following subgroups: operation of personal transport equipment (-20.5 percent), purchase of vehicles (-2.8 percent). At the same time, prices increased for transport services (8.0 percent);Health: the prices for the group decreased by 7.9 percent, with the relevant contribution of -0.78 percentage points to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-18.7 percent). At the same time, prices increased for out-patient services (11.3 percent) and hospital services (7.6 percent).


Construction Cost Index increased due to increase in average monthly n...

Compared to February 2022 the CCI increased by 6.6 percent. The latter was largely caused by the 4.8 percent increase in the prices for construction materials, which contributed 2.69 percentage points to the total index change.The following table presents the CCI in March 2023, compared to the previous month and February 2022, as well as the contributions of cost categories to the total index.


The Number of Persons Receiving Subsistence Allowances Increased By 72...

As of 2022, the number of persons receiving subsistence allowance was 17.4% of the total populationAfter 2009, the lowest number of people receiving subsistence allowance was 376.7 thousand in 2015. In 2022, compared to 2015, the number of people receiving subsistence allowance has increased by 72%.


Georgia, South Korea to launch talks for economic partnership deal

Deputy Economy Minister Genadi Arveladze, who is on a working visit to Korea, met the country’s Acting Director of the Free Trade Policy Department of the Ministry of Trade, Industry and Energy to discuss the conditions of the deal.The agreement will cover liberalisation of trade in both goods and services, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, government procurement and more.The state body said the document also implied deepening economic cooperation in energy, transport, information technology, tourism, environmental protection and other sectors. A high-level delegation from Korea will visit Georgia in the second half of this year in order to make a final agreement and sign a document on the terms of negotiations, the Ministry also noted.


Where Does Georgia Buy Fuel?

In 1Q, the price of imported oil products in Georgia decreased by 6%. According to Geostt, if last year the price of 1 liter of oil and oil products was $0.85 on average, this year its price is $0.8.TOP Importing Partners:


Crime statistics have improved, domestic violence has increased

Of these, 154 people have committed crimes before the probationary period expires, it makes up 6.9% of persecuted persons.Although the total number of crimes has decreased, the number of domestic violence has increased by 8.3% during the reporting period. If last year in March 216 cases were initiated under this article, this year this figure has increased to 234 cases.


Georgia Advances Its Nursery Certification Framework and CAC Standards...

With the EU’s support, nursery certification and compliance with CAC standards will allow the production of higher quality, pests and virus-free, true-to-type saplings, resulting in a more competitive agricultural sector. Certified nurseries provide export opportunities and contribute to overall economic development in the country.On 6-7 April 2023, during the consultations with MEPA, NFA and SRCA, FAO facilitated the discussion to develop and implement the nursery certification system and the CAC standards in Georgia. The significant topics highlighted during the meetings were developing phytosanitary measures, inspections and control mechanisms. Georgian government representatives also held presentations about their work connected to nursery inspections and CAC standards.Between 8 and 13 April 2023, the FAO experts visited several nurseries throughout Georgia and provided technical support for meeting certification requirements and CAC standards. The experts also conducted assessments and held relevant training sessions for nurseries about modern sapling production and propagation techniques, thus improving phytosanitary and food safety standards in nurseries.“Certification and inspections are important for the development of agriculture in Georgia as they guarantee the identity, health and quality of seeds and propagating material. This will increase buyers’ confidence that they purchase a safe and healthy product”, says Dominik Papenheim, Team Leader Economic and Trade at the Delegation of the European Union to Georgia.“Advancing the nursery certification framework can become an important milestone in Georgia’s agricultural development. Safe food and high-quality fruits and vegetables start from nurseries. By ensuring that saplings are true-to-type and free of pests and diseases, we can make a big step forward toward providing Georgian consumers with healthier, locally produced agricultural goods. Naturally, with the continued support of the EU, FAO is glad to support the country in advancing the legislative framework for certifying nurseries and helping them in meeting CAC standards,” says Javier Sanz Alvarez, FAO Programme Coordinator.


GDP Growth Amounted To 7.3% In March

The estimated real Gross Domestic Product (GDP) growth rate amounted to 7.3 percent for March 2023 compared to previous year and the average real GDP growth of Q1 2023 equaled 7.2 percent.Declines were registered in Manufacturing, Energy and Real estate activities.


24 companies won in the first auction of electricity production capaci...

"The activity and interest of the private sector in the auction of power generation capacity from renewable sources is very important for us - the commission reviewed the submitted proposals in the shortest possible time, selected those applications whose proposed tariff fell below the median tariff and identified the winners of the auction, in total 24 companies", said the First Deputy Minister of Economy Romeo Mikoutadze while evaluating the results of the auction.According to him, after the Government of Georgia reviews and approves the information about the winning companies in the power auction, detailed information about the energy projects that will be implemented under the support scheme based on the results of the first auction will become known to the public.The Ministry of Economy announced the auction of power generation capacity from renewable sources on February 10 of this year. Acceptance of applications started on March 22, 2023 and ended on March 27 at 18:00. In the auction, 78 bids were submitted through sealed envelopes.


Cargo turnover in Georgian ports has increased

"Compared to the same period of the previous year, we have a 31% increase in general cargo: in the first three months of 2023, general cargo in Batumi and Poti harbors amounted to 1,229,548 tons. Of which, 107,176 tons were processed in Batumi, 115,589 tons in Poti.The amount of oil and oil products in the ports of Georgia has decreased by 39% - 1,190,301 tons, which is due to the factor of the Baku-Supsa pipeline, therefore, the Supsa oil terminal has not received any more ships since April 2022 (during this period, only 2 ships were processed in February 2023)", - the Maritime Transport Agency of Georgia stated.