Galt & Taggart

Georgian economy has track record of navigating different types of global and regional shocks relatively well. This is supported by a stable macroeconomic environment, prudent monetary and fiscal policies, a business-friendly environment, and a heal....

New companies Tbilisi Electricity Retail Company (Telmico) and EP Georgia Supply appeared on retail market of electricity in July 2021. They got licences as Universal Service Supplier, Public Service Provider and Last Alternative Supplier. Former su....

After a weak start in 1Q21 related to COVID-19, Silknet returned to growth from 2Q21. The company generated GEL 306.4mn (+8.3% y/y) in revenue and GEL 168.3mn (+7.3% y/y) in adjusted EBITDA over 9M21, translating into solid adjusted EBITDA margin st....

Monetary policy: To fight inflation, regional central banks continued monetary policy tightening in Jan-22. Kazakhstan’s central bank raised the key rate by 50bps to 10.25%, Ukraine by 100bps to 10.00%, and Azerbaijan by 25bps to 7.50%, all citing h....

In December 2021, recovery in tourism continued and improved vs. previous months. Total international arrivals (tourists and same-day combined) stood at 160,763 persons – up 226.4% y/y and accounting for 30% of 2019 level. This growth was predominan....

Georgian Railway released audited 1H21 results. The company generated US$ 83.6mn (+3.4% y/y) in revenue and US$ 38.2mn (+3.3% y/y) adjusted EBITDA in 1H21. The growth was mostly driven by increased revenue from sale of scrap (+US$ 3.3mn) as well as.....