The FINANCIAL - Opinion

The FINANCIAL --Georgia’s foreign trade turnover in the first half of 2016 declined by 11% year-on-year to USD 4.22 billion, excluding one-off import of USD 1.48 billion worth donated C hepatitis medicines, according to the figures released by the state statistics office, Geostat, on Tuesday.

The FINANCIAL -- Widespread urban adoption of self-driving vehicles (SDVs) and “robo-taxis,” or self-driving taxis, could result in a 60% drop in the number of cars on city streets, an 80% or greater decrease in tailpipe emissions, and 90% fewer road accidents, according to a new report by The Boston Consulting Group (BCG) prepared in collaboration with the World Economic Forum.

Georgia has a trade deficit with many countries, due to various reasons including the lack of manufacturing, qualified staff, and oil reserves in our nation. In 2014, exports totaled $2,861 million, while imports stood at $8596 million. That brings our negative trade balance (the value of exported goods minus the value of imported goods) to $5735 million. This is obviously not good for the economy. 

The FINANCIAL -- Cars have long ago become a basic marker of social achievement for the Georgian population. This assumption can be confirmed with statistical data: according to Geostat, in 2016 there were 1,100,000 registered cars in Georgia; more than a half of which - namely 60.9% - are passenger vehicles. These cars are owned by 40% of the Georgian population. The growth trend has been observed since 2008 and till today it maintains a growth rate of up to 8% annually. At the end of 2016, the number of registered vehicles is expected to increase further by 10-11%.

The FINANCIAL -- On 25 June 2016, on air on Rustavi 2, United National Movement member, Mikheil Machavariani, stated:  “The amount of unpaid bank loans is GEL 355 million. This means that people are so impoverished that there is no money, there is no economy and their incomes have decreased.”

Load More