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DAILY NEWS June 29, 2016

ECONOMY MINISTER: TRANSPARENT PLATFORM BEING ESTABLISHED BETWEEN ECONOMIC BLOCK AND JUDICIARY

Dimitri Kumsishvili, Minister of Economy and Sustainable Development, declared that transparent platform is forming between economic block of the government and judiciary, within which, role of judiciary is considered in terms of the country’s economic development.

“We all agreed that this platform is very important and useful, it is possible to set up thematic groups under it, enabling us to facilitate each other, have proper communication with our population, have proper communication with business”, Kumsishvili told journalists. More...


THE PREMIER: WE WILL DEFINITELY INTRODUCE THE RIGHT SYSTEM OF TECHNICAL INSPECTION

“We will definitely introduce the right system of technical inspection that will be accessible, free from corruption and compliant with best European practices”, Prime Minister Giorgi Kvirikashivli declared.

The Premier said that situation with air pollution in Georgia is truly challenging and decision, made years ago regarding abolition of technical inspection, was absolutely erroneous. More...


THE GOVERNMENT: UP TO 60 BUSINESSMEN ATTENDED SWITZERLAND-GEORGIA BUSINESS FORUM

Up to 60 businessmen attended Switzerland-Georgia business forum in Bern, administration of Georgian government reported. The event was organized by National Investment Agency of Georgia. More...


NBG: PRGE-ECF LOAN WILL BE PAID FULLY IN 2017

National Bank of Georgia (NBG) declared that PRGF-ECF (Extended Credit Facility) of IMF will be repaid fully in 2017.

IMF’s loan represents 10-year PRGF (Poverty Reduction and Growth Facility) loan with interest rate of 0.5%, which balance cost as of December 31, 2015, made up 46.21 million lari, NBG noted. More...


NBG INTRODUCED FPAS

National Bank of Georgia (NBG) announced about introduction of Forecasting and Monetary Policy Analysis System (FPAS), implemented in cooperation with leading global institutions. NBG has declared about publication of FPAS document today. More...


NBG: REVEALS OF FORGED LARI BANKNOTES REDUCED IN NUMBER IN 2015, WHILE REVEALS OF FORGED US DOLLAR BANKNOTES – INCREASED

National Bank of Georgia reported that forged lari banknotes, revealed in 2015, reduced in number by 17.6% year-on-year. In turn, number of forged US dollar banknotes increased by 13.2%, while number of forged euro banknotes – by 31.6%. More...


NATURAL DISASTER IN SHUAKHEVI AND KEDA MUNICIPALITIES DAMAGED INFRASTRUCTURE AND FLOODED LAND PLOTS

Government of Ajara declared that heavy rain on June 28 caused landslide and flooding in Shuakhevi municipality. The natural disaster damaged local roads, flooded agricultural land plots and properties of 10 families. More...


COMMUNICATION COMMISSION: VOLUME OF CONSUMED MOBILE INTERNET TRAFFIC HAS TREND OF SUBSTANTIAL GROWTH

National Communication Commission declared that volume of mobile internet traffic, consumed in Georgia, has trend of substantial growth. In particular, the traffic totaled in 2015 to 14,558 TB, jumping year-on-year by 189.3%. More...


REGULATORY COMMISSION: FIXED STATION FOR RADIO FREQUENCY SPECTRUM MONITORING IS EXPECTED TO BE BUILT AT LISI LAKE

National Communication Commission declared that fixed station for radio frequency spectrum monitoring will be built presumably on the ridge east from Lisi Lake in Tbilisi. Negotiations on the mentioned project are underway with relevant services of Tbilisi Mayor’s Office, the Commission said. More...


REGULATORY COMMISSION: OFFICE OF PUBLIC DEFENDER OF CONSUMERS INTERESTS RECEIVED 263 COMPLAINTS IN 2015

National Communication Commission reported that 263 complaints were submitted to Office of Public Defender of Consumers Interests in 2015. Of them, 102 were written complaints, while 161 ones were made by phone. More...


ECONOMIC PRESS MONITOR June 29, 2016

Tabula: “ACTION PLAN OF “UNM” – TAX LIBERALIZATION AND NEW JOBS”

United National Movement (UNM) has presented its action plan, which this opposition party considers will recover the country from deep economic, political and institutional crisis.

According to the party’s initiative, income tax will be reduced to 15% and will be lowered to 10% during the next 4 years, while profit tax will be also decreased to 10% for the next 4 years. More...


Liberali: “UNIVERSAL HEALTHCARE AFTER ELECTIONS”

Unfair financing, weak administration and ineffective control of spending – these three claims are the most important among remarks, made regarding universal healthcare program, the magazine points.

Experts consider that in order to make healthcare program fair, the state should care about financing of medical assistance for vulnerable groups. More...


Netgazeti.Ge: “ENVIRONMENT PROTECTION MINISTRY: HIGH RATE OF AIR POLLUTION IS NOT FIXED IN ANY OF COMPONENTS”

Study, conducted by International Energy Agency (IEA) worldwide according to figures of 2012, states that in Georgia, most people per 100,000 residents die due to diseases, caused by air pollution.

However, Georgian Ministry of Environment and Natural Resources Protection assures that high rate of air pollution is not fixed in the country in any of components. More...


SPECIAL REPORT June 17, 2016

FOREIGN DIRECT INVESTMENTS – I QUARTER, 2016

In the first quarter of 2016, according to the preliminary data:

- The volume of Foreign Direct Investment (FDI) in Georgia increased by 103% compared to the first quarter of 2015 and amounted to US$376.4 mln.

- The highest proportion of FDI was invested in Tbilisi (63%). More...


Exchange Rates (NBG)
  06/29/16 + / -
  USD   2.3423   0.0286
  EUR   2.5976   0.0313
  RUR   3.6552   0.0101
Announcements
Dear readers,

We are glad to inform you about resume of our long-suspended publication, Special Report. That contains original reports of consulting companies, working in Georgia, and covers broad range of issues – from macroeconomics to state policy analysis.

We do hope that those professional reports will greatly expand you knowledge and understanding of current state of Georgian economics. For sure, we will be happy to hear your opinions regarding this publication.

Sincerely,

Sarke Information Agency

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