Connect with us

Economy

Georgia's Annual Income Per Capita Increased

Published

on

201903305387.jpg

According for the publication, should the average annual income per capita in Georgia was 1 272 GEL in 1998, the figure increased 3.4 times over the next Two decades and amounted to 4 335 GEL. Georgia is ranked the 8th r?worldwide by 3.4 times growth. Turkmenistan is ranked when the 1st?which includes a growth of 7.Three times. Armenia and Azerbaijan employ a slightly better result than Georgia.

Envisaging the Purchasing Power Parity C PPP (2011 international dollars), Georgia is over the 8th?place in relations to income growth. Revenue on per capital was 3 023 PPP in 1998, although rate was 3.4 time higher in 2018 – 10 305 PPP USD. This methodology examines the wages of the us in accordance with its purchasing power. Typically, pricing is lower around the products in low-income countries comparing to high-income countries, the purchasing power of poor countries is invariably higher. As usual, during the so-called nominal dollar, revenue on per capita was 4 500 USD in 2018.

Despite Georgia ranks since the 33th on the earth by economic rate of growth within last 20 years, with the revenue on per capita, the land is ranked since the 8th. This difference will likely be explained by decreasing the range of Georgian population. Practically in most with the world’s population the amount of inhabitants are growing, plus in 1998 individuals decreased by 15% (800,000). For that reason, income growth rate for one of the population was 6.4%.

If the sheer number of Georgian population haven\’t decreased, Georgia would be within the 13rdplace on earth with the revenue on per capita.

Despite located on the 8th?place, Georgia\’s revenues continue to be enough low within 20 years. In 2018, Georgia is about the 105th invest the globe with income on per capita. However, Georgia was about the 133rd put in place 1998.

gbc

Continue Reading

Economy

237.5 So many Georgian Citizens are Unemployed

Published

on

By

201903305255.jpg

In 2018 the annual unemployment rate decreased by 1.2 percentage points compared to 2017 and amounted to 12.7 percent.

It must be noted how the downtrend inside the unemployment rate is maintained in the last nine years, furthermore in 2018 unemployment rate reached the minimum level over the past 15?years.

In IV quarter 2018 economically active population constituted 63.6 percent from the working age population (population aged 15 and older). In comparison to the previous quarter, the efficient?activity rate and employment rate decreased by 0.7 percentage points. The employment rate in?urban settlements decreased by 0.2 percentage points compared to the previous quarter plus?rural settlements – 1.3 percentage points. As compared to the previous quarter the commercial activity?rate in rural settlements decreased by 1.6 percentage points, when it\’s in urban settlements remained?unchanged.

Traditionally, the unemployment minute rates are higher for males than women. In IV quarter 2018 the indicator was 2.6 percentage points higher for men when compared to the corresponding indicator for girls.

Continue Reading

Economy

EIB Allocates Additional 250 million EUR for Georgia\’s Infrastructure Development

Published

on

By

201903305266.jpg

As part of two agreements under Transport Communication Project of Georgia, EIB has allocated 500 million EUR financial aspect to Georgia for constructing 14-km Grigoleti-Choloki highway and building Chumateleti-Khevi and Ubisa-Shorapani sections of the Rikoti Pass.?

Consultations on allocating 250 million EUR component has become already finished EIB.?

In water supply sector, with the EIB financial support, Kutaisi Water Raceway project is it being implemented and EIB has allocated 100 million EUR financial component with this project.

A grant agreement continues to be signed in Eastern Partnership technical assistance program on allocation of the grant of approximately 250 000 EUR. Moreover, for that project support, a further grant agreement will be signed sooner and EU will allocate 4 750 000 EUR grant.?

Two framework agreements are actually signed for municipal infrastructure development. 200 million EUR has become used fund this direction and grow municipal roads, public buildings, kindergartens, tourism infrastructure, water and solid wastes infrastructure.

About 1.3 billion EUR is allocated for improving Georgia\’s infrastructure, including 750 million EUR for road infrastructure, 200 million EUR for municipal infrastructure, and 180 million EUR for water supply infrastructure.

Continue Reading

Economy

Vazil Hud

Published

on

By

201903305277.jpg

Investment portfolio of your European Investment Bank in Georgia plus the main priorities of the future cooperation were the topic of the conversation.

The Minister of Economy and Sustainable Development George Kobulia, after conclusion in the meeting, stated that two new priority directions, like the cooperation in promoting of the energy efficiency and attracting the direct foreign investment to the country. Reported by George Kobulia, the EIB provides financial and technical assist to Georgian companies in an effort to implement technological re-equipment of the enterprises to make the production process energy-efficient.

\”Another priority issue is attraction with the direct foreign investment. The lending company will retain the steps involved in bringing large European companies into Georgian market, which assists to advance the export potential of our country in order to develop more SMEs,\” C the Minister of Economy and Sustainable Development stated.

\”The EIB gives over the past 10 years almost 200 million Euro support. We have been dealing with local banks to distribute your little friend loans guaranties for the enterprises in Georgia. We\’ll do this again. We are going to focus mainly on the enterprises, any local companies, which might be involved, one example is, in energy efficiency, agriculture and technology-We told the Minister the European Investment Bank will attempt to assist to get the investors and also, deliver the support for such investment,\” C the Vice-President of the European Investment Bank, Vazil Hudk noted. The Vice-President from the EBI also highlighted the energy projects maintained by the Bank.

Continue Reading

Trending

Copyright © 2019 Betrose.com