Demna's First-Ever Fragrance is On Its Way

With regard to the annual core inflation, the prices increased by 2.3 percent, while the annual core inflation without tobacco also amounted to 2.3 percent.The monthly inflation rate was mainly influenced by price changes for the following groups:Food and non-alcoholic beverages: the prices for the group increased by 0.4 percent, contributing 0.18 percentage points to the overall monthly inflation rate. The prices increased for the following subgroups: fruit and grapes (5.2 percent), bread and cereals (2.2 percent), coffee, tea and cocoa (1.9 percent), fish (1.5 percent), oils and fats (1.5 percent), meat (0.2 percent), sugar, jam, honey, chocolate and confectionery (0.2 percent). At the same time, prices decreased for vegetables (-2.1 percent), milk, cheese and eggs (-1.5 percent), mineral waters, soft drinks, fruit and vegetable juices (-1.2 percent);Clothing and footwear: the prices increased by 1.5 percent, contributing 0.07 percentage points to the overall monthly inflation rate. Prices were higher for clothing (2.3 percent);Health: the prices increased by 0.4 percent, contributing 0.04 percentage points to the overall index. The prices were higher for the following subgroups: out-patient services (0.7 percent), medical products, appliances and equipment (0.5 percent), hospital services (0.3 percent);Transport: the prices for the group decreased by 1.0 percent, contributing -0.11 percentage points to the overall index. Within the group the prices decreased for operation of personal transport equipment (-1.9 percent), purchase of vehicles (-0.2 percent). At the same time, prices increased for transport services (1.3 percent).

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According to the document, the media landscape is diverse and, at the same time, highly politically polarised. Manipulation, hate speech and disinformation are widespread in the media, especially on television, the main source of information. Media owners often control editorial content, as was the case with Rustavi 2, a TV channel that changed its editorial line after its handover to a former owner, and the public broadcaster GPB, which experienced government interference. Regional and community radio stations struggle with funding problems, while the print media’s readership is in decline and that of online news outlets is on the rise.The country is undergoing a new and serious political crisis following widely contested legislative elections in October 2024, which have plunged the country into a repressive environment and international isolation. This environment is conducive to sustained competition for control of television networks. Although Georgian law prohibits political parties from owning media outlets, the big networks generally defend the interests of their owners, who often have close ties to political leaders. The same goes for state-owned media, which are subject to strong interference by the authorities. At the same time, the authorities often refuse to respond to media that criticise them and sometimes resort to censorship, raids, smear campaigns and intimidation.The government still hasn’t fulfilled the European Union’s recommendation on press freedom, a necessary step before starting negotiations on membership. Contrary to previous reforms strengthening pluralism and transparency in the media, the government even adopted a repressive “foreign influence” law that copies the Russian “foreign agents” legislation, which undermines media freedom. The courts sometimes try to attack the confidentiality of sources, even though it is guaranteed by the law on freedom of expression.The underdeveloped advertising market is declining in print and online media, which are largely financed by donors, usually from the West. The worrying economic problems of privately owned media have been accentuated by the “foreign influence” law, which penalises media outlets supported by Western institutions, as well as changes in advertising legislation, distorting competition with the heavily subsidised state-owned media.Georgian society is marked by strong social tensions on certain issues, such as religion, LGBTQ+, rights and Russian influence, impacting journalistic coverage. Influential social figures, such as members of the Orthodox clergy, are wiretapped by the security services, thereby violating the confidentiality of journalists’ sources.Verbal and physical assaults on journalists are frequent, including by senior government officials, especially during electoral campaigns. A sustained and brutal assault on about 50 reporters during homophobic counter-demonstrations in July 2021, in front of impassive security forces, marked an unprecedented setback. The lack of transparency and progress in the investigation speaks to the impunity enjoyed by those who commit crimes against journalists.

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The conference brought together representatives from central banks and financial institutions to discuss key issues related to financial and supervisory frameworks critical for the region’s economic development. Participants highlighted the strategic role of Azerbaijan, Georgia, and Turkey as a vital economic corridor connecting Europe and Asia, emphasizing that their collaboration with the United States is essential for fostering sustainable economic growth and financial stability.During a panel discussion, Mikabadze underscored the growing importance of strengthening financial ties among countries in the region, particularly in the context of global financial market development. She noted that as economic activity intensifies along the Middle Corridor, the demand for interconnected financial services is increasing.“The National Bank of Georgia is actively cooperating with the central banks of Turkey and Azerbaijan across multiple areas,” Mikabadze stated. “This includes the implementation of modern real-time gross settlement (RTGS) systems, instant payment systems (IPS), fintech initiatives, and efforts to improve the efficiency of cross-border payments. These advancements are integral to fostering an integrated, innovative financial ecosystem.”Mikabadze also addressed the risks currently confronting central banks and monetary policy amid heightened global uncertainty. Ekaterine Mikabadze noted that, based on the National Bank of Georgia's risk-based monetary policy approach, the NBG has successfully managed to maintain low inflation.

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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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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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As of the document, the number of visits by international visitors from above-mentioned figure amounted to 1.2 million, 1.3 percent higher compared to the same period of 2024.In 1Q2025 the number of international visitors equaled 970.5 thousand, which is 1.3 percent higher compared to the same period of the previous year.In the reporting period, international visitors made 958.9 thousand tourist-type visits, which is 2.2 percent higher compared to the same period of the previous year.82.6 percent of international visitors were only tourists. The share of only excursionists amounted to 13.7 percent, while 3.7 percent of visitors were both tourists and same-day visitors.In 1Q2025 the largest number of visitors (187.7 thousand visitors), amounting to 19.3% of the total number of visitors, was from Russian Federation. Turkey was on the second place with 16.5% share and Armenia was on the third place with 13% share. The largest number of visits were made by the citizens of Turkey (225.3 thousand), Russian Federation (219.3 thousand) and Armenia (180.8 thousand).The majority of visitors (48.8 percent) were from the age group of 31-50 and the number of women equaled 36.5 percent of the total number of visitors.In 1Q2025 the purpose of the majority of inbound visits (42.2 percent) was holiday, leisure and recreation.In 1Q2025 the average number of nights spent during the visits equaled 5.50 nights, which is 0.8 percent higher than the same figure of the I quarter of 2024 (5.45 nights). 85.1%  of visits was repeating visit.The expenditures during the visits made in the I quarter of 2025 equaled 2.3 billion GEL. The indicator is 8.3 percent higher compared to the same period of the previous year. Average expenditure per visit increased by 6.9 percent compared to the I quarter of 2024 and amounted to 1,998 GEL.

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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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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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