TBILISI - As war chokes Europe, a small nation wedged beneath Russia is enjoying an unexpected economic boom.a dramatic influx
“On the economic side, Georgia is doing very well,” Vakhtang Butskhrikidze, CEO of the country’s largest bank TBC, told Reuters in an interview at its Tbilisi headquarters. The European Bank for Reconstruction and Development , for example, predicted in March the Ukraine conflict would deal a major blow to the Georgian economy. Likewise the World Bank forecast in April that the country’s growth for 2022 would drop to 2.5 per cent from an initial 5.5 per cent.
“These are high-end people, rich people ... coming to Georgia with some business ideas and increasing consumption drastically,” said Davit Keshelava, senior researcher at the International School of Economics at Tbilisi State University .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Zealand locks horns with Canada in dairy trade rowWELLINGTON: New Zealand's trade minister accused Canada on Monday (Nov 7) of having 'locked out' his nation's farmers in a dispute over dairy exports destined to be settled by an independent panel. Damien O'Connor said the Canadians are 'not living up' to promises made under a 2018 Trans-Pacific free trade
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Ukraine's Zelenskyy: Heavy Russian losses in the eastRussia is suffering heavy losses in continuing 'fierce' attacks in Ukraine's eastern Donetsk region and is preparing new assaults on Ukrainian energy infrastructure, Ukrainian President Volodymyr Zelenskyy said on Sunday (Nov 6). 'Very fierce Russian attacks on Donetsk region are continuing. The enemy is s
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
At least 13 killed in Russian nightclub fire, officials sayNov 5 - At least 13 people died in an overnight fire at a nightclub in the Russian city of Kostroma, officials said on Saturday. Kostroma is a city of around 270,000 people, 300km north-east of Moscow on the banks of the river Volga. The fire took place at Polygon, a multi-purpose recreation venue used as a cafe, nightclub and...
Source: asiaonecom - 🏆 10. / 59 Read more »
Ukraine warns of more Russian attacks on energy infrastructure as it braces for power blackoutsThe country faced a 32% deficit in projected power supply on Monday. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Taiwanese man dies fighting in Ukraine warTAIPEI - A Taiwanese man who volunteered to fight in Ukraine has died on the battlefield, the Foreign Ministry said. He is believed to be the first person from Taiwan killed in the conflict. The ministry said a Ukrainian field commander confirmed the death of Mr Tseng...
Source: thenewpaper - 🏆 7. / 63 Read more »