German Embassy Calls on Papuashvili to Check Facts

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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Lion Finance Group (BGEO LN) shares closed at GBP 106.40/share (-1.85% w/w and -5.59% m/m). More than 331k shares traded in the range of GBP 105.00 - 111.80/share. Average daily traded volume was 60k in the last 4 weeks. The volume of BGEO shares traded was at 0.77% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 43.84/share (- 4.24% w/w and -12.41% m/m). More than 362k shares changed hands in the range of GBP 43.00 - 46.86/share. Average daily traded volume was 61k in the last 4 weeks. The volume of TBCG shares traded was at 0.65% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 39.50/share (-2.11% w/w and -5.62% m/m). More than 182k shares traded in the range of GBP 38.90 - 41.70/share. Average daily traded volume was 62k in the last 4 weeks. The volume of CGEO shares traded was at 0.53% of its capitalization. 

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Compared to the corresponding quarter of the previous year, the unit cost index of agricultural production increased by 15%.The increase in the index was mainly due to an 11.5% increase in the cost of live animals and animal products, which contributed 6.8 pp to the change in the total index.During the same period, the value of annual crops increased by 23.2 percent, and the value of perennial crops by 14.4%, which contributed 3.92 and 4.27 percentage points to the change in the total index, respectively.

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In 2025, the absolute poverty rate in urban areas decreased by 1.8 percentage points, amounting to 6 percent, while in rural areas it decreased by 3.0 percentage points, amounting to 9 percent.In 2025, the absolute poverty rate decreased compared to the previous year across all age groups of the population. Specifically, the indicator was 9.2 percent in the age group under 18 years (-2.9 percentage points), in the 18-64 age group – 7.0 percent (-2.3 percentage points), and in the population aged 65 and older – 5.2 percent (-1.5 percentage points).The absolute poverty rate for women decreased by 2 percentage points, while for men it decreased by 2.6 percentage points and amounted to 7.1 percent and 7.2 percent, respectively.In 2025, the share of the population under 60 percent of the median consumption decreased by 1.6 percentage points, amounting to 17.3 percent, while the share of the population under 40 percent of the median consumption decreased by 1.5 percentage points, amounting to 5.2 percent.In 2025, compared to the previous year, the value of the Gini coefficient decreased by 0.01 based on both total incomes and total consumption expenditures, amounting to 0.34.

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In the I quarter of 2026 the monthly average number of tourist visits of Georgian residents amounted to 665.0 thousand, which is 6.6 percent higher than the corresponding figure of the previous year. The chart №2 illustrates the distribution of monthly average number of visits made by Georgian resident visitors by the type of visit.he majority of visitors, 36.2 percent, were from the age group of 51-70 and women accounted for 55 percent of the total number of visitors.According to the survey results, 37.2 percent of visitors are the residents of Tbilisi, 15.2 percent — Imereti, Racha-Lechkhumi and Kvemo Svaneti region, while the rest of the regions are represented by the relatively lower shares.In the I quarter of 2026 the main purpose of the majority of visits (54.7 percent) was visiting friends/relatives.In the reporting period majority of the visits were made in Tbilisi (on average 415.0 thousand visits per month) and Imereti region (on average 322.4 thousand visits per month).In the I quarter of 2026 the monthly average expenditure during the visits equaled 273.6 million GEL, 12.9 percent higher compared to the corresponding figure of the previous year. Meanwhile, the average expenditure per visit increased by 7.4 percent and equaled 172.7 GEL.

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The main source of household income is cash incomes and transfers. In 2025, this share increased by 0.1 percentage points compared to the previous year, amounting to 90.5%. The figure was 94.2% in urban areas and 83.2% in rural areas.The average monthly income per household in urban areas increased by 12.9 percent, amounting to 2 233 GEL, while in rural areas it increased by 11.3 percent, equaling 1 954 GEL.In the structure of cash incomes and transfers, the largest share is held by wages and salaries, which increased by 1.7 percentage points compared to the previous year, reaching 49.3 percent. The share of self-employment income increased by 0.7 percentage points, amounting to 13.3 percent. The share of income from pensions, scholarships, and social assistance decreased by 0.3 percentage points, reaching 21.9 percent. The structure of cash incomes and transfers differs between urban and rural settlements.In 2025, the average monthly expenditures in Georgia increased by 11.6 percent compared to the previous year and amounted to 1 936 GEL per household and 603 GEL per capita.According to the survey results, in 2025, the share of household cash consumption expenditure in total expenditures decreased by 0.5 percentage points compared to the previous year, amounting to 69.3 percent.The average monthly expenditures per household in urban areas increased by 11.1 percent and amounted to 2 015 GEL, while in rural areas it increased by 12.2 percent and equaled 1 799 GEL.In the structure of cash consumption expenditure, expenditure on food, beverages and tobacco was the highest, increasing by 0.6 percentage points compared to the previous year and amounting to 38.7 percent. The structure of cash consumption expenditure differs between urban and rural settlements.

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