Georgian Economy Minister highlights strategic importance of Anaklia Port as construction starts
Construction of the strategically important Anaklia deep sea port has officially begun, marking a historic step for the country’s economic development, said on Wednesday Mariam Kvrivishvili, the minister of economy and sustainable development of Georgia, during her visit to Anaklia, where she inspected ongoing works at the port site.
In her remarks, the minister noted that the project has already entered an active phase, further adding that intensive negotiations were held with the contractor company in recent months, resulting in the optimisation of the initial contract value and a reduction of the project cost by $52 million.
“During the past period, we held intensive negotiations with the contractor company and, together with them, optimised the initial contract value, reducing the project cost by $52 million. The Anaklia deep sea port is a strategically important project for our country’s economy. It will be a complex facility that, on the one hand, includes port infrastructure and, on the other hand, adjacent infrastructure, including a free industrial zone. Within the framework of the project, a road leading to the port and a railway will also be constructed, which will ensure the uninterrupted functioning of the port. All of this guarantees that Anaklia will secure a worthy place not only in Georgia’s but also in the region’s port infrastructure”, Kvrivishvili said.
The minister also announced that construction of the road linking the port, along with an 18-kilometer railway line, will begin in the near future.
Kvrivishvili highlighted that the government has already presented a 10-year railway modernization plan, describing rail transport as an integral part of a unified transport and logistics system. Increased cargo flows expected on the railway will require a strong maritime gateway, making the Anaklia project a logical continuation and a key element of this broader strategy.
“The strengthening of the railway system and the development of Anaklia are interdependent. Together, they will position Georgia as a reliable, efficient, and competitive regional transport and logistics hub”, the minister concluded.
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NBG President announces increase in refinancing rate to stabilise inflation expectations and maintain price stability
06.05.2026.16:54
“We are committed to stabilising and normalising inflation expectations to prevent any future upward pressure and to ensure a stable price level,” said Natia Turnava, President of the National Bank of Georgia (NBG).
She also confirmed that the NBG has decided to raise the refinancing rate.
“There is heightened uncertainty and geopolitical tension worldwide, with particular inflationary pressures arising from the global oil and oil products markets. For instance, if you examine Georgia’s April inflation rate, it is evident that external market factors, especially oil and oil product prices, have played a significant role in driving inflation.
Consequently, we are focusing on better managing inflation expectations. These risks and expectations are well understood globally, including in Georgia, which relies on importing oil and oil products.
No one can predict how long the ongoing conflict in the Middle East will last or how much volatility there will be in external markets. Therefore, we have decided to increase the refinancing rate, our monetary policy rate, even by a small percentage. This is a clear preventive measure designed to counteract inflationary pressures and the risk of their transmission to our economy.
In essence, this move is about safeguarding inflation expectations, preventing future inflationary pressures, and maintaining price stability. Our goal is to ensure that, at the earliest opportunity, our inflation rate gradually returns to the target of 3.0 per cent, as initially planned before the conflict in the Middle East and rising oil prices impacted the market,” Turnava explained.