Lado Alexi-Meskhishvili’s Book presented with the support of TBC

The value of export increased by 6.7 % reaching USD 4 448.0 million, while the import increased by 9.7 percent and amounted to USD 11,804 million.The trade deficit equaled USD 7,356 million and its share in trade turnover constituted 45.3%.

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According to the economic activity the highest monthly earnings were observed in the following fields:• Information and communication – 4 176.5 GEL (increased by 5.4 percent compared to the corresponding period of the previous year);• Financial and insurance activities – 3 732.2 GEL (increased by 2.5 percent);• Construction – 3 467.7 GEL (increased by 17.7 percent);• Professional, scientific and technical activities – 2 995.3 GEL (increased by 4.3 percent)In 2Q2025, the average earnings for women equaled 1,769.5 GEL, while for men, they were 2,655.8 GEL. The annual earnings growth amounted to 179.3 GEL (11.3%) for women and 242.3 GEL (10.0%) for men. In most sectors, men’s average monthly earnings were higher than women’s.In 2Q2025, the average monthly earnings of employees in the business sector increased by 212.2 GEL (10.1%) and equaled 2 317.6 GEL. According to the economic activity,the highest monthly earnings were observed in Information and communication (4,234.4 GEL, increased by 4.3% compared to the corresponding period of the previous year) and Construction activities (3,472 GEL, increased by 17.7%).In 2Q2025, compared to the same quarter of the previous year, the average monthly earnings of employees in the non-business and financial sector increased by 197.1 GEL (10.8%) and amounted to 2,024 GEL. According to the economic activity, the highest monthly earnings were observed in the Financial and insurance activities.

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Lion Finance Group (BGEO LN) shares closed at GBP 76.05/share (+6.36% w/w and -4.94% m/m). More than 346k shares traded in the range of GBP 72.70 - 78.15/share. Average daily traded volume was 56k in the last 4 weeks. The volume of BGEO shares traded was at 0.78% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 44.40/share (+3.38% w/w and -7.69% m/m). More than 294k shares changed hands in the range of GBP 43.35 - 45.25/share. Average daily traded volume was 71k in the last 4 weeks. The volume of TBCG shares traded was at 0.52% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 23.55/share (+0.21% w/w and +0.64% m/m). More than 351k shares traded in the range of GBP 22.85 - 25.15/share. Average daily traded volume was 118k in the last 4 weeks. The volume of CGEO shares traded was at 0.89% of its capitalization. 

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The authors of the document urge the Georgian authorities to open an inclusive national dialogue with all relevant stakeholders to find a peaceful and democratic solution to the ongoing crisis.“We regret that our concerns, indicated in our previous communications, have gone unacknowledged and that the Georgian authorities have not taken steps against the deteriorating human rights situation, which is in contradiction with Georgia’s OSCE commitments and human rights, democratic norms and values,” reads the statement.Representatives of Western countries highlight that “the upcoming municipal elections in October in Georgia will be held in a climate of heavy political polarisation and in a context of growing repression against authorities’ critics, with several opposition leaders being imprisoned.”OSCE states also criticised the government for “no timely invitation has been sent to ODIHR to allow for meaningful observation.”“The repression against citizens, political opposition, civil society and independent journalists continues. We reiterate our call to the Georgian authorities to investigate all allegations of excessive use of force by law enforcement officials and to hold to account those responsible,” the statement reads.The statement also highlights that the OSCE countries strongly condemn the disproportionate sentencing of Georgian journalist Mzia Amaglobeli to two years in prison, and the latest prison sentences against several protestors.“We urge the Georgian authorities to reaffirm their commitment to dialogue and the OSCE principles and commitments,” the statement reads.At the same time, Western partners stressed that they remain open to cooperating with Georgia and are unwaveringly committed to its sovereignty and territorial integrity, within its internationally recognised borders.“We stand firmly with Georgia’s people and their pursuit of a democratic, stable and European future,” the document reads.

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In the first half of 2025, the natural increase (the difference between the number of live births and the number of deaths) totaled -4,999. The positive natural increase was registered in Tbilisi (406) and Adjara A.R. (296).In the first 6 months of 2025, the number of registered marriages equaled 9,925 and the number of divorces 6,456.

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Currently, the harvest is being stored in the municipalities of Dedoplistskaro, Sighnaghi, Gurjaani, and Kvareli. More than 1,300 winegrowers have delivered their grapes to local wineries.“The vintage, grape harvest, will commence in stages across the remaining municipalities of Kakheti once the grapes reach optimal maturity. Of the grapes processed by wineries, approximately 12,000 tonnes are Saperavi, around 7,000 tonnes are Rkatsiteli, with the remainder comprising various other varieties. There are up to 350 registered wine companies and cellars working with the Vintage 2025 Coordination Headquarters, of which 110 are already actively involved in the harvest and processing. For any information related to the grape harvest, please contact the Ministry of Environmental Protection and Agriculture hotline on 1501, or the Vintage 2025 Coordination Headquarters on 0322 193 283,” the Ministry stated.Additionally, by decision of the Georgian government, this year the state enterprise Crop Management Company LLC will accept surplus grapes at differentiated prices based on certain criteria: Saperavi grapes from Kakheti will be purchased at GEL 1.50 per kilogram, other wine varieties permitted under Georgia’s Law “On Vine and Wine” at GEL 1.20, and substandard, damaged, or diseased grapes at GEL 1.00. Subsidies will no longer be provided to private wine companies within Kakheti.

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The primary market also saw its highest sales volume this year, partly driven by discounts offered in July. These trends indicate a stabilization of the market after a period of sluggish demand. On the supply side, the volume of permits issued increased in July. At the same time, prices continued to rise in both the primary and secondary markets.DemandIn Jul-25, total number of sold apartments in Tbilisi, according to the Public Registry data, stood at 3,647 units, of which:• Sales on the secondary market continued to increase, up 13.4% y/y (down 0.3% y/y in 7M25).• Sales on the primary market, where data are impacted by delayed registrations, decreased by 2.6% y/y (up 4.7% y/y in 7M25).G&T real-time survey of developers, which captures current trends on the primary market, showed 7.3% y/y decrease in Jul-25, mostly due to a high base in Jul-24. However, positive monthly dynamics of apartment sales seems to be a sign of demand stabilization. Cumulatively, primary market sales were up 1.6% y/y in 7M25.In total, 22,778 transactions were registered in Tbilisi in 7M25, bringing the residential market value to USD 1.8bn (+6.0% y/y).SupplyIn Jul-25, construction permits were issued for 20 residential projects, with total living area reaching 113,332 sq.m. (+36.1% y/y, reflecting a low base in the previous year). Overall, permit issuance in 7M25 was up 2.8% y/y.PricesIn Jul-25, primary market price continued to grow, up by 0.2% m/m to US$ 1,340. Likewise, the average price on the secondary market (for new buildings built with permits issued after 2013) was up by 0.6% m/m to US$ 1,263.RentsIn Jul-25, price for renting an average apartment (50-60 sq.m.) in Tbilisi increased by 1.0% m/m to US$ 9.5 per sq.m., still down 3.1% y/y.

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To prevent illicit enrichment, public officials are obligated to declare any gift received by them or their family members in their asset declarations, if the value exceeds 500 GEL. They are prohibited from accepting any gift that may influence the performance of their official duties or exceeds 5% of their annual salary.The restrictions do not apply to gifts received by public officials from family members or close relatives. While this exception may seem logical, it also poses a risk: in the absence of proper oversight, it can become a loophole in the law, which dishonest officials may exploit to “launder” income obtained illegally, in other words, to declare income received in violation of the law as a gift from a family member or close relative.Therefore, it is crucial that in every case where a public official declares a large gift, whether it be a significant amount of money, high-value items, or service, the Anti-Corruption Bureau should investigate whether there may be an attempt to legalize illicit income.In 2024, around 6,000 public officials submitted asset declarations. These declarations cover gifts received during 2023, and the data reveals that 308 officials received gifts totaling 22 million GEL in value during that year.Public officials most often receive gifts in the form of cash. In 2023, 303 individuals received a total of up to 16 million GEL, averaging about 53,000 GEL per person. However, the amounts of cash gifts vary, and among them, 55 officials received more than 100,000 GEL each. Additionally, officials declared 47 units of real estate as gifts, of which 33 are residential houses and 14 are land plots. The gifts also included 21 vehicles and 6 firearms.In cases of cash gifts, the money is often received in US dollars or Euros. In 2023, officials received up to 6 million USD and 347,000 EUR.By total value, 72% of the gifts (16 million GEL) were received from parents. Up to 2 million GEL worth of money or items were received from relatives. In total, 1.6 million GEL was gifted by brothers or sisters, and 1.1 million GEL by children.In 2023, officials from about 90 different institutions received gifts. Employees of the Prosecutor’s Office of Georgia received the largest total value of gifts - 46 employees received gifts worth a total of 4.5 million GEL. Next are members of Parliament, who received gifts totaling 2.4 million GEL, followed by employees of the Ministry of Internal Affairs with gifts worth up to 2 million GEL, and judges who received gifts valued at 1.3 million GEL.In 2023, among high-ranking officials, substantial gifts were received by former Prime Minister Irakli Garibashvili - 150,000 GEL; Minister of Justice Rati Bregadze - 100,000 dollars (an apartment); Deputy Minister of Justice Buba Lomuashvili - 160,000 GEL; Chairman of the Tbilisi City Assembly Giorgi Tkemaladze - 60,000 dollars; and Supreme Court Judge Giorgi Mikautadze - 50,000 dollars. All of them received gifts from family members.10 officials who received the highest value of gifts according to the 2024 declarations:Giorgi Shapatava(Prosecutor at the Prosecutor’s Office of Georgia, Department for Investigation Process Management in the Ministry of Defense)Giorgi Shafatava received gifts totaling 1,012,000 USD (equivalent to 2,661,600 GEL based on the 2023 average exchange rate). He received 870,000 USD from his father and 142,000 USD from his sister. The declaration states that the gift from his father was obtained through the sale of real estate.Irakli Kirtskhalia(Member of the Parliament of Georgia)In 2023, Irakli Kirtskhalia received real estate worth 250,000 USD as a gift from his father. He also received 185,900 USD and 137,000 GEL in cash from his father. Additionally, he received 1,714 USD in cash from his sister. Based on the 2023 average exchange rate, Irakli Kirtskhalia received gifts with a total value of 1.3 million GEL.Vakhtang Baakashvili(First Deputy Head of the LEPL "Youth Agency")Vakhtang Baakashvili’s spouse, Tinatin Megrelishvili, received an apartment as a gift from her father valued at 295,000 USD, which is equivalent to 775,800 GEL based on the 2023 average exchange rate.Khatuna Totladze(Deputy Minister, Ministry of Foreign Affairs)Khatuna Totladze received 250,000 USD from her mother, which is equivalent to 657,500 GEL based on the 2023 average exchange rate.Davit Tsereteli(Judge, Tbilisi City Court)In 2023, Davit Tsereteli received an apartment valued at 156,000 USD as a gift from his mother, which is equivalent to 410,000 GEL based on the 2023 average exchange rate.Levan Gamkrelidze(Director of the LEPL "Road Transport Agency," Ministry of Economy and Sustainable Development)Levan Gamkrelidze received 150,000 USD in cash as a gift from his mother, which is equivalent to 395,000 GEL based on the 2023 average exchange rate. The declaration states that the gift from his mother was obtained through the sale of a plot of land.Zurab Pataridze(Ambassador to the Republic of Azerbaijan, Ministry of Foreign Affairs)Zurab Pataridze received 75,000 USD in cash from his spouse’s mother and 65,000 USD from his mother. The declaration states that both amounts were obtained through the sale of real estate. Based on the 2023 average exchange rate, Zurab Pataridze received gifts with a total value of 368,000 GEL.Sandro Tsabutashvili(Head of the Main Department for Border Management and Coordination, Ministry of Internal Affairs)Sandro Tsabutashvili received 142,500 GEL and 17,640 USD in cash from his sister. He also received 70,000 GEL from his father-in-law, noted as a wedding gift. His spouse, Elene Jikhvashvili, received 63,000 GEL, 10,100 Euros, and 1,200 USD in cash from her father. Based on the 2023 average exchange rate, Sandro Tsabutashvili and his spouse received gifts with a total value of 353,000 GEL.Vepkhia Lomidze(Judge, Tbilisi Court of Appeals)Vepkhia Lomidze received a cellar (commercial space) valued at 300,000 GEL as a gift from his spouse, Nino Jinjharadze.David Zilpimiani(Former Member of the Parliament of Georgia)David Zilimiani received 105,000 USD in cash as a gift from his grandchild, which is equivalent to 276,000 GEL based on the 2023 average exchange rate.

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