The trade deficit equalled USD 9 billion

According to the Ministry, the Georgian delegation centred its discussions on the urgent need for Russia to fully fulfil its obligations under the ceasefire agreement, as well as on ensuring the safe and dignified return of internally displaced persons (IDPs) and refugees from the occupied territories to their homes.“In the period of November 11-12, 2025, the 65th round of the Geneva International Discussions took place, led by Deputy Minister of Foreign Affairs Lasha Darsalia.Throughout the negotiations, the Georgian delegation emphasised the core issues on the agenda, notably the necessity for Russia to implement its international commitments under the August 12, 2008, ceasefire agreement brokered by the European Union, and to facilitate the safe and dignified return of internally displaced persons and refugees to their homes from the occupied territories.The importance of restoring the Incident Prevention and Response Mechanism (IPRM) in Gali without preconditions was underscored, along with the need for the mechanism to operate regularly in Gali and Ergneti in accordance with fundamental principles.The Georgian side also strongly raised concerns about the occupation of the territories, highlighting the serious security, humanitarian, and human rights crises in the regions, as well as the destructive actions undertaken by the occupation regimes. The Georgian side has voiced particular concern over the recent unlawful opening of the airport in Sukhumi, which violates fundamental principles and norms of international law, as well as the commencement of regular flights and the initiation of rail and sea passenger services from Russia to Sukhumi.As usual, representatives of Russia and the occupation regimes departed from the negotiation table on one of the key issues on the agenda, the return of internally displaced persons and refugees. Consequently, as with previous rounds, the 65th negotiations ended without resolution.The Geneva International Discussions were established in response to the 2008 agreement brokered by the European Union. The core issues under discussion include the full implementation of the ceasefire agreement, the safe and dignified return of internally displaced persons and refugees, and addressing the security and humanitarian challenges created by Russian occupation,” the Georgian Ministry of Foreign Affairs said in a statement.

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The Georgian Ministry of Internal Affairs also announced the discovery of the 20th victim.It was previously reported that the aircraft’s black box had been taken to Turkey for examination.The Turkish military plane, carrying 20 servicemen, crashed near the Georgian–Azerbaijani border in the Sighnaghi Municipality while flying from Azerbaijan to Turkey.

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Speaking about the 2021–2025 period, Khutsishvili highlighted that funding for social support and healthcare programs has increased by over GEL 3.5 billion, accounting for 38% of the total budget growth.Key measures in the 2025 draft budget include:Pensions and Social Benefits: Pensioners under 70 years: +110 GEL; in high-mountain areas: +132 GEL Pensioners aged 70 and above: +175 GEL; in high-mountain areas: +210 GEL Number of beneficiaries increased by over 85,000 Compensation for former soldiers and police officers increased by more than 40%, with the upper limit rising from 560 GEL to 1,035 GEL Social benefits for persons with disabilities increased proportionally Assistance for children under 16 increased from 100,000 to 120,000 recipients, with monthly support now 200 GEL per child Healthcare: Funding for healthcare programs increased by over GEL 600 million Salaries of primary healthcare personnel to increase by 10% Defense and Security: Total funding reached GEL 4.2 billion, with a 20% share of the overall budget increase Salaries for soldiers and police officers have risen by 60% over the last four years Education: Funding increased by over GEL 2 billion (22% of the total budget increase) Average salaries for public school teachers increased by GEL 700–800, while kindergarten staff salaries rose by GEL 400–500  Infrastructure: Capital expenditure allocations for 2025 exceed GEL 8 billion, a 66% increase compared to 2021 Additional Social Measures: Pensions for elderly and disabled individuals increased further, including 495 GEL for pensioners 70+ and 370 GEL for those under 70, with higher amounts in mountainous regions Social programs financing totals GEL 7 billionHousing support for displaced persons allocated GEL 240 million Khutsishvili emphasized that the public sector has seen a 46% increase in salaries over the last four years, reflecting ongoing efforts to improve living standards and strengthen social welfare, education, and healthcare systems.

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The transaction was managed by international investment banks, including Citigroup, J.P. Morgan, BCP Securities, Oppenheimer Europe, Société Générale, and Galt & Taggart. Legal advisory was provided by Sidley Austin LLP and Baker & McKenzie LLP for compliance with English and U.S. law, and by Dentons Georgia LLC and Andersen for Georgian legislation.The Eurobonds will be listed on the Irish Stock Exchange and received a Ba2 rating from Moody’s Investors Service.“I am pleased that another important transaction in the history of the Bank of Georgia has been successfully completed. This is the largest international placement of local currency Eurobonds from the private sector in the Caucasus, Turkey, and Central Asia up to 2025,” said Archil Gachechiladze, General Director of the Bank of Georgia.“The transaction underscores the strong financial position of the Bank Group and reflects high confidence from investors.”

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DemandIn Sep-25, total number of sold apartments in Tbilisi, according to the Public Registry data, stood at 4,011 units, of which:• Sales on the secondary market increased significantly by 12.9% y/y (up 0.5% y/y in 9M25).• Sales on the primary market, where data are impacted by delayed registrations, increased by 12.6% y/y (up 4.9% y/y in 9M25). According to G&T, real-time survey of developers, which captures current trends on the primary market, showed a significant 81.8% y/y rise in Sep-25, supported by the launch of presales in several large-scale developments.Cumulatively, primary market sales were up 16.4% y/y in 9M25 according to Galt & Taggart developer survey.In total, 29,972 transactions were registered in Tbilisi in 9M25, bringing the residential market value to US$ 2.5bn (+12.4% y/y).SupplyIn Sep-25, construction permits were issued for 17 residential projects, with total living area reaching 194,189 sq.m. (+48.5% y/y). Overall, permit issuance in 9M25 was up 8.1% y/y, making supply expansion a key metric to monitor in the future.PricesIn Sep-25, primary market price continued to grow, up 0.3% m/m to US$1,345 per sq.m. Likewise, the average price on the secondary market (for new buildings built with permits issued after 2013) was up by 1.1% m/m to US$1,310 per sq.m.RentsIn Sep-25, price for renting an average apartment (50-60 sq.m.) in Tbilisi increased by 1.1% m/m to US$ 9.7 per sq.m., keeping rental yield at 8.6%.

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“Pursuant to the first paragraph of Article 24 of the Law of Georgia on the Structure, Powers and Procedures of the Government of Georgia, Leri Barnabishvili is hereby dismissed from his position as Deputy Minister of Finance of Georgia, effective from November 11, 2025,” the Prime Minister’s decree reads.Leri Barnabishvili was appointed Deputy Minister of Finance in early May 2024.Prior to that, he held the position of Head of the Department for Relations with Regions of the Government Administration.The Ministry of Finance wrote in May last year that Barnabishvili had 20 years of experience working in the Ministry of Finance system, including holding the position of Deputy Minister of Finance in 2015-2020.

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According to the Prosecutor General, the charges relate to the events of June 20–21, 2019, commonly known as the “Gavrilov Night” protests, and the Chorchana incident.“The Prosecutor’s Office of Georgia has initiated criminal proceedings against former Prime Minister Giorgi Gakharia. The case concerns the episodes of June 20–21, 2019, and Chorchana, which are well known to the public,” Gvarakidze stated.Reports indicate that Gakharia left Georgia several months ago.If found guilty, he faces a prison sentence of up to 13 years.

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According to Rico founder Lasha Nikolaishvili, the Ministry of Finance’s Investigation Service was immediately notified of the suspicious transaction. He also noted that the banknotes were highly professional forged, and their detection requires high-tech equipment, which is equipped in all branches of the microfinance organization.According to him, attempts to overheat counterfeit banknotes are not uncommon. There are 10-15 cases per month, although in small volumes and often the consumer does not even know that the banknote is counterfeit.

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