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DAILY NEWS July 7, 2015

NBG: BUDGETARY AMENDMENTS DO NOT ENVISAGE NEUTRALIZATION OF PRESSURE, CAUSED BY DEPRECIATION OF LARI

“If the Parliament aims relief of credit burden because of depreciation of lari or next initiative – neutralization of pressure of additional depreciation of lari, corresponding changes should be made, which are not envisaged in the presented draft budget”, National Bank of Georgia (NBG) said in its conclusion released today.

NBG considers expedient “considerable cut of the budget’s expenditure and/or use of the existing tax mechanisms, as it was mentioned by IMF during consultations with the government”. More...


TWO INVESTMENT CERTIFICATES ON ONE TROY OUNCE OF GOLD WERE SOLD IN Q2

National Bank of Georgia (NBG) reported that 2 investment certificates of one troy ounce (31.1 g) were sold in the 2nd quarter. Both certificates were sold for 2,725 lari each on auction, held on April 21. More...


NBG ISSUED COLLECTION COIN, DEDICATED TO XIII EUROPEAN YOUTH OLYMPIC FESTIVAL

National Bank of Georgia (NBG) issued a collection coin in commemoration of XIII European Youth Olympic Festival, which will held in Tbilisi at the end of July. As NBG said, silver coin (15.5 g) with nominal value of 10 lari will be sold for 65 lari. More...


CHAIRMAN OF HEALTHCARE AND SOCIAL ISSUES COMMITTEE: IN CASE OF BIRTH RATE GROWTH, HIGH RATE OF AGEING OF THE NATION IS NOT NEGATIVE FOR THE COUNTRY

Dmitry Khundadze, chairman of the Parliament’s Committee for Healthcare and Social Issues, said that there is rapid aging of the nation in Georgia and, according to forecasts of experts, population will decrease by 0.5 million people by 2030. However, “The high rate of aging of the nation is not a negative indicator for the country, if it is accompanied with growth of birth rate”, he pointed. More...


IMPORT OF OIL-PRODUCTS IN 6 MONTHS INCREASED BY 14.5% Y-O-Y

Union of Oil-Products Importers reported that 450,000 t of oil-products (petrol and diesel) were imported in 6 months of the year to Georgia. If compared with the same period of 2014, the volume has increased by 14.5%. More...


PRIME MINISTER: 90 INDUSTRIAL PROJECTS WITH TOTAL INVESTMENT VOLUME OF OVER 250M LARI ARE STARTED

Prime Minister Irakli Garibashvili declared that 90 industrial projects with total investment cost of over 250 million lari are started within the state program “Produce in Georgia”.

At that, the Premier said that commercial banks have issued credits of 122 million lari to private sector, and more than 5,000 people are employed within the program. More...


GEORGIAN COMPANIES PRESENTED PRODUCTION ON EXHIBITION IN THE US

Ministry of Economy and Sustainable Development reported that Georgian companies presented production on “The Summer Fancy Food Show 2015” in New York.

With assistance of Agency of Entrepreneurship Development, Georgian stand exhibits production of companies, engaged in juice, tea, hazelnut and food production, the Ministry said. More...


NEW SPECIAL MANAGER APPOINTED IN “KAZTRANSGAS-TBILISI”

National Energy and Water Supply Regulating Commission reported that Gia Benashvili, special manager in LLC KazTransGas-Tbilisi (Tbilisi gas distributor), applied on July 3 to the Commission regarding abdication. Request of Benashvili, who was appointed on the position in September 2014, was satisfied at today’s meeting of the Commission. More...


BY THE END OF Q2, INDEX OF GEORGIAN STOCK EXCHANGE DECREASED BY 17.28% Y-O-Y

Georgian Stock Exchange reported that its index GSX made up 95.84 as of June 30. If compared with the same period of 2014, the index has decreased by 20.22 points (i.e. by 17.28%). More...


IN Q2, TOTAL VOLUME OF EXCHANGE DEALS DECREASED BY 14.49% Y-O-Y

Georgian Stock Exchange reported that total volume of exchange deals, concluded in the 2nd quarter, made up 59,831 lari. If compared with the same period of 2014, the volume has decreased by 14.49%. More...


ECONOMIC PRESS MONITOR July 7, 2015

Rezonansi: “SEPARATISTS ARE SNATCHING ELECTRICITY OF “ENGURI” AWAY”

According to agreement of 1997, 40% of electricity, generated by EngurHES and series of VardnilHES, has to be share of Abkhazia, while 60% – of remained territory of Georgia, the newspaper says.

However, Abkhazia took in January-May of this year over 63% of electricity, the article specifies and points: this is the period, when Georgian energy system has replenishing the deficit with import. More...


Netgazeti.Ge: “BECAUSE OF FAILED PROJECTS, BUDGET OF MINISTRY OF INFRASTRUCTURE DECREASES BY 54.5 MILLION LARI”

According to draft amendments to the state budget-2015, allocations of Regional Development and Infrastructure Ministry decrease by 54.5 million lari.

Deputy Finance Minister Giorgi Kakauridze explains that reduction of funds “is connected mainly to revealed protracted procedures and various shortcomings upon pre-tender, tender and project works”. More...


Sakartvelos Ekonomika: “GREEK CRISIS AND GEORGIA”

Author of the article, professor of Tbilisi State University Emzar Jgerenaia, notes that out of events in Greece two circumstances are important for Georgia. The first is that crisis made jobless many Georgians, who worked in this country, and the second – emigrants cannot send money to Georgia as operation of Greek banks is limited, he specifies. More...


Exchange Rates (NBG)
  07/07/15 + / -
  USD   2.2457   0.0008
  EUR   2.4635   0.0142
  RUR   3.9140   0.0671
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