Parliament approves the National Bank's 2025 annual report

Despite weaker visitor dynamics from Azerbaijan and Armenia, the main downward pressure on tourism revenue came from Russia and Israel, where revenues declined by 12% and 13% YoY, respectively. The impact of the Middle East conflict became visible in Israel-related dynamics, with Israeli visitor trips down 17.5% YoY. These losses were offset by stronger revenue growth from the EU and UK (+36%), Türkiye (+12%), and Ukraine (+34%), supporting a modest increase in total tourism revenue to USD 830 million (+0.5% YoY). Although the EU and UK ranked only fourth by visitor numbers, they were the largest revenue contributors, generating USD 141 million and highlighting significantly higher average spending per visitor compared to neighboring source markets. Large branded hotels also showed improved performance in 1Q 2026. Occupancy averaged 51%, up 6 percentage points YoY, while the Average Daily Rate (ADR) reached USD 129, increasing by 10% YoY. ADR was higher in all three months of the quarter compared to the same period of 2025.

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According to her, this stability is also confirmed by the unchanged forecast of economic growth, while the maximum neutralization of the influence of external factors is constantly being carried out.The head of the NBG also spoke about the inflation dynamics and noted that the indicator of rigid prices remains close to the target of 3%. In addition, against the background of strong foreign exchange inflows, the GEL is characterized by a strengthening trend, which reduces the pressure of imported inflation."We assume that oil prices will remain within the current range. As a result, inflation will begin to decline from the third quarter of this year and return to the target of 3% during the next year," - said Natia Turnava.The President of the National Bank added that this forecast is conditional and significantly depends on external factors, although domestic macroeconomic parameters provide grounds for optimism.

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As Reuters reports, citing a European official, the package prepared by Kallas for the meeting planned in Cyprus also includes a demand that Russia stop cyber attacks, the use of drones and disinformation campaigns against Europe.The EU’s strategic discussions have intensified after Ukrainian President Volodymyr Zelensky called on Europe to become more involved in the peace process. Kiev fears that the United States, currently focused on the conflict with Iran, could distance itself from the talks with Russia, which is why the Ukrainian side wants to keep Europe involved.Despite the plan, according to Reuters sources, there is still no consensus among EU members on the format of future relations with Moscow.“Support for Ukraine remains strong, ⁠but there is no unity on how to approach future relations with Russia, that is more difficult,” said a senior European diplomat. “Some believe there should be no engagement at all, no bargaining - it’s complicated,” they added.According to diplomatic sources, at the same time, Moscow is not ready to start real negotiations at this stage. In February, the diplomatic adviser to French President Emmanuel Macron visited Moscow for this purpose, but did not find any signs of changes in the Kremlin's positions. Against this background, part of the European Union believes that now is the time to increase pressure on Russia and that any diplomatic test should be considered only in parallel with military assistance to Ukraine.

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As of 01.05.2026, the share of 2 systemic banks (BOG, TBC) is 89.4%.Banks with net profit over 10 million GEL

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The controversy was sparked by Shalva Papuashvili’s statement that German Ambassador Peter Fischer “would not personally have the desire to attend the Independence Day event” because he “takes the oath of the squadrons of contempt.”“As for the statement of the Speaker of the Parliament of Georgia, we recommend checking the facts. The facts are that Germany has been a large and leading supporter of the Georgian Defense Forces for decades. This can be easily verified with the Ministry of Defense. Everything else is disinformation,” the embassy said in a statement.The embassy did not specify whether the ambassador attended the May 26 event, although according to available information, Peter Fischer was not at the ceremonial ceremony. At the same time, the speaker of the parliament stated that an official invitation had been sent to all diplomats.The German mission emphasizes that the country’s goal is to continue friendly cooperation with Georgia and that the diplomatic mission avoids getting involved in any domestic political discussions.

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The financing package includes: Up to 75% of the funds designated for on-lending to MSMEs, with at least 10% specifically for women-owned businesses and at least 25% allocated for green finance projects, such as renewable energy and energy efficiency. Up to $125,000 in technical assistance from ADB to strengthen Ameriabank’s sustainability framework and systems. “This project will expand access to finance for MSMEs – especially women-owned enterprises – while advancing green investments in Armenia. By providing longer-term financing, we are supporting businesses to grow, create jobs, and contribute to a more inclusive and climate-resilient economy”, - Lyaziza Sabyrova, ABD’s Armenia Country Director, said.Hovhannes Toroyan, Chief Financial Officer at Ameriabank, commented: “We are delighted to strengthen our partnership with the ADB in supporting MSMEs across Armenia through greater access to affordable financing. As Armenia’s largest lender, with a strong focus on green and sustainable finance, we remain committed to driving inclusive growth and supporting the country’s long-term economic development.”“We are delighted to deepen our partnership with ADB. This facility will enable Ameriabank to continue empowering entrepreneurs across the country. The dedicated funding for green projects and women-owned enterprises underscores our shared commitment to building a sustainable and inclusive economy. I would also like to thank the teams involved for their collaboration and continued support throughout the process”, - Giorgi Shagidze, CFO of Lion Finance Group PLC, declared.

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According to the Government’s Parliamentary Secretary, Vakhtang Bachiashvili, the new legislation will distinguish between improper fulfillment of obligations and dishonest actions committed in order to obtain a contract.Under the current law, being on the blacklist restricts access to state contracts for a period of one year. According to the new draft, in case of detection of dishonest actions, the period of prohibition from participating in procurements will be increased to two years. In addition, this restriction will apply not only to the company itself, but also to its founder and partner.The second part of the legislative amendments concerns the promotion of the development of small and medium-sized businesses, which involves the institutional introduction of the concept of a subcontractor and the creation of a legal framework for its use.After the adoption of the draft law, the rules for relations with subcontractors will be established, including the mechanisms for their selection, distribution of responsibility and control. According to the government, the reform is expected to increase the economic capabilities of both small and medium-sized businesses and the efficiency of the public procurement system as a whole.

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According to the Investigative Service, none of the sanctioned companies had Georgia as their area of operation.“Investigation has established that Aifory LLC and ARVIX LLC were fictitiously registered in the names of other individuals in exchange for a certain fee, whilst in reality operating out of Moscow, Russia, and possessing neither assets nor offices in Georgia. In the criminal case on these matters, a court verdict of April 28, 2026, imposed fines of 30,000 lari and suspended sentences on three of the accused, whilst Davit Jinchaladze, the organiser of the criminal scheme, was sentenced to nine years and six months’ imprisonment.Regarding the unlawful activities of Rapira Group LLC, it has been determined that the company, registered via a power of attorney by a British national, operated solely through the website ‘rapira.net’. The site exclusively served Russian citizens, and its domain was registered with a Russian registrar. The company has no recorded banking transactions, assets, or offices on Georgian territory, and its registration was purely formal.The Investigative Service of Georgia’s Ministry of Finance, in coordination with international partners, continues its active work in combating financial and cybercrime, as well as in preventing and suppressing any attempts to circumvent international sanctions,” the statement reads.

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