Middle East > Georgia > Economy

Economy in Georgia

  • Georgia seeks to construct power plants worth $4.153B

    GEORGIA, 2015/10/26 Plans for construction of new power plants valued at $4.153 billion are being carried out in Georgia, Georgia’s ministry of energy reported. Part these projects, 24 power plants, to cost $3.023 billion, are in the process of licensing and construction. Part the major power plants are the Khudoni hydropower plant on the Enguri river (installed capacity - 702 MW, expected annual output of 1,500 gigawatt/hours), Nenskra hydropower plant on the Nenskra river (installed capacity - 210 MW, expected annual output of 1,200 gigawatt/hours), Dariali hydropower plant on the Tergi river (installed capacity - 108 MW, expected annual output of 521 gigawatt/hours), Koromkheti hydropower plant on the Acharistskali river (installed capacity - 150 MW, expected annual output of 463 gigawatt/hours) and the Shuakhvi hydropower plant on the Acharistskali river (installed capacity - 175 MW, expected annual output of 437 gigawatt/hours). The Khudoni hydropower plant is expected to begin operating in 2022. The investment in this project is estimated at $776.702 million. As well, the Nenskra hydropower plant is scheduled for completion in 2021, with electricity generation beginning in 2019. The investment in this project is $1 billion.

  • IMF predicts 2pct growth in Georgia's economy

    GEORGIA, 2015/04/17 The World Economic Outlook has projected 2 % increase for Georgia’s real gross domestic product in 2015 and three % in 2016, and 5 % increase in 2020. WEO presented the International Monetary Fund staff's analyses and economic development projections for major country groups and individual nations. "Economies in the Commonwealth of Independent States slowed further in the latter half of 2014, and the outlook for the region has deteriorated markedly," the IMF said.

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • Georgian President Giorgi Margvelashvili World Economic Forum in Istanbul

    GEORGIA, 2014/09/30 Georgian President Giorgi Margvelashvili addressed the World Economic Forum in Istanbul on September 29. Margvelashvili in his speech emphasized the importance of signing an Association Agreement with the European Union. "We have singed an Association Agreement with the European Union, which means that we have a luck to get closer with Europe both, politically and economically," Margvelashvili said.

  • Georgia’s economic growth hits 7.8 %

    GEORGIA, 2014/01/06 The real increase of Georgia's GDP in November 2013 stood at 7.8 % compared to 4.1 % in October 2013, according to preliminary data from National Statistics Office of Georgia. Over the initial 11 months of 2013 the country's economic increase amounted to 2.6 %, the statistics office said.
Trending Articles