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DAILY NEWS January 18, 2018

IN 2017, RESERVE ASSETS OF NBG INCREASED BY 10.3%

National Bank of Georgia (NBG) reported that official reserve assets amounted as of end of 2017 to $3.04 billion. If compared with the same period of 2016, the volume has increased by 10.3%. More...


IN 2017, PROFIT OF COMMERCIAL BANKS INCREASED BY 28.1%

National Bank of Georgia reported that net profit of commercial banks amounted as of December 31, 2017, to 869.8 million lari. If compared with the same period of 2016, the volume has increased by 28.1%. More...


REGIONAL PROJECTS FUND TO ALLOCATE 125.29M LARI TO MUNICIPALITIES

At the meeting today, the government approved the order regarding allocation of money from fund for implementation of projects in regions of Georgia to municipalities of the country.

The matter concerns implementation of 331 projects with total cost of 125.29 million lari. More...


STATE PROGRAMS ON EMPLOYMENT ASSISTANCE AND LABOR MARKET ANALYSIS ARE APPROVED

The government approved state programs on employment assistance and labor market analysis.

Budget of the state program on development of employment-assisting services for 2018 amounts to 700,000 lari. More...


“HUB GEORGIA” ACCUSES “GEORGIAN AIRPORTS ASSOCIATION” OF VIOLATIONS

HUB Georgia (non-governmental organization, studying transport issues) declared that state-owned LLC Georgian Airports Association conducts with violations the tenders on domestic flights’ implementation.

HUB Georgia indicated that in 2016, local airlines were unable to take part in tender, announced by Georgian Airports Association, because of its 2-month duration and the tender was cancelled. More...


DEPUTY MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: THE STATE WILL BE READY SOON TO FIGHT AGAINST BROWN MARMORATED STINK BUG

Deputy Minister of Environmental Protection and Agriculture Giorgi Khanishvili assures that “soon, the state structure will be completely ready to fight against brown marmorated stink bug” (pest, causing significant loss to Wester Georgia last year).

“Since 2018, the state changes method of fight against marmorated stink bug and considers as working area that public space also, which can facilitate spread of the pest”, Khanishvili said. More...


WITHIN “MYSTICAL CONSUMER” PROJECT, REGULATING COMMISSION REVEALED VIOLATIONS IN DISTRIBUTORS’ SERVICE

National Energy and Water Supply Regulating Commission declared that “mystical consumer” project was implemented for the first time in energy and water supply sectors. The project applied to TELASI (Tbilisi energy distributor), KazTransGas-Tbilisi (Tbilisi gas distributor) and GWP (Tbilisi water supply and sewerage company). More...


“MAGTICOM” SUSPENDED GROWTH OF TARIFFS

MagtiCom “has took written request of National Communication Commission and suspended temporarily launch of changes of tariffs”, the mobile operator declared.

The operator had planned to raise tariffs since January 18 of this year. More...


LAND PLOT IN BAKURIANI IS PUT ON AUCTION FOR HOTEL CONSTRUCTION

Land plot in alpine resort Bakuriani is offered to investors within “50 Objects for Your Hotel” project (one of the components of “Produce in Georgia” state program).

The site of 12,468 square m is located nearby to ski slope of Didveli. More...


NEW HOTEL TO BE OPENED IN AKHASHENI VILLAGE OF KAKHETI REGION

Ministry of Economy and Sustainable Development declared that within “Produce in Georgia” state program, new hotel will be opened in Akhasheni village of Gurjaani municipality (Kakheti region). The 41-room hotel should start operation in March. More...


ECONOMIC PRESS MONITOR January 22, 2018

Kviris Palitra: “THE EMPLOYED POOR”

Referring to official statistics, the newspaper reports that unemployment level in Georgia makes up 11.8% and decreases annually, starting from 2009 (16.9%).

As the article notes, research of National Democratic Institute (NDI) show that 60% of Georgian respondents consider themselves unemployed, while 54% said that creation of jobs is the most important issue. More...


Forbes Georgia: “ASSESSMENT OF REFORM OF PROFESSIONAL EDUCATION”

Referring to Sakstat, the magazine reports that share of those youngsters, who neither work, nor study, makes up 26%. The article indicates that it is supposed that professional education is the shortest way to youth employment. More...


Forbes Georgia: “20 MOST ACTIVE COMPANIES IN MEDIA OF 2017”

Referring to research of IPM (Institute for Polling and Marketing), the magazine reports that among Georgian companies, articles and news mentioned most of all during 2017 TBC Bank (9,190 times). On the second position is Sakartvelos Banki (Bank of Georgia, 6,335 times). More...


SPECIAL REPORT January 16, 2018

GEORGIAN ECONOMY – OVERVIEW, 2007-2017

The 100th edition of Economic Outlook and Indicators happily coincides with PMCG’s 10-year anniversary. Through the last decade, Georgia’s economic indicators have fluctuated substantially. More...


Exchange Rates (NBG)
  01/22/18 + / -
  USD   2.5340   0.0089
  EUR   3.1067   0.0015
  RUR   4.4789   0.0036
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