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DAILY NEWS October 30, 2014

“SAKSTAT”: IN 9 MONTHS, AVERAGE RATE OF GDP GROWTH MADE UP 5.9%

According to Sakstat’s estimation, average rate of real GDP growth in 9 months of this year made up 5.9%, if compared with the same period of 2013.

At that, the rate of September made up 4.1%, while of the 3rd quarter – 5.5%. More...


ASSESSMENT GROUP OF OECD GLOBAL FORUM INCLUDES GEORGIA’S REPRESENTATIVE

Finance Ministry reported that at the 7th plenary session of OECD’s Global Forum on Transparency and Information Exchange for Tax Purposes, Georgia’s representative was elected to assessment group for 3-year term.

The Ministry explained that this group conducts assessment of tax legislation and its enforcement practices of the Forum’s 123 member countries in terms of information exchange between tax authorities and transparency standards. More...


GEORGIA AND SOUTH KOREA TO WORK OUT PARTNERSHIP STRATEGY

Georgian Ministry of Regional Development and Infrastructure declared that South Korean delegation is going to pay visit in December in order to study priority directions of Georgian government in details. At that, strategy of the two countries’ partnership will be worked out, the Ministry said. More...


TBILISI MAYOR: PREPARATION OF INVESTMENT PROPOSALS FOR JAPANESE INVESTORS IS UNDERWAY

Tbilisi Mayor David Narmania declared that “preparation of investment proposals is underway, aiming attraction of Japanese investors to Georgia in case of interest”.

Narmania said this at today’s meeting with director general of department for East and Central Asia and Caucasus at Japan International Cooperation Agency (JICA) and representatives of Japanese companies. More...


3-QUARTER PLAN OF AJARA BUDGET RECEIPTS IS FULFILLED BY 100.7%

Press service of Ajara government reported that receipts of autonomous republic’s budget amounted in 3 quarters to 111.97 million lari, making up 100.7% of the plan (111.15 million lari).

Plan of revenues for the same period made up 107.33 million lari, while its actual fulfillment amounted to 107.9 million lari, the press service said. More...


PREFERENTIAL AGROLENDING PROGRAM IS AMENDED

The government amended today projects on preferential agrolending and financing of agricultural enterprises.

In particular, next year’s preferential agrolending program, instead of current 8 components, will include 3 directions: preferential agrolending (two components: preferential funding of fixed and fixed assets), preferential agroleasing and “Produce in Georgia” program. More...


PRIME MINISTER: VERSION, PROPOSED BY ALTERNATIVE GROUP IN CONNECTION TO SO-CALLED WIRETAPPING LAW, CONTAINS RISKS FOR STATE SECURITY

Prime Minister Irakli Garibashvili declared that “version, proposed by alternative group in connection with so-called wiretapping law, contains risks for the state security”.

The Premier has declared this at the government’s session today and noted that “when the matter concerns holding of so-called “keys” by mobile operators or court, it is directly linked to the state interests and security”. More...


“UNITED NATIONAL MOVEMENT”: THE PRIME MINISTER’S CLAN ESTABLISHED CONTROL OVER FREIGHT TRANSPORTATION

Oppositional United National Movement declared that “clan” of the Prime Minister Irakli Garibashvili and his father-in-low Tamaz Tamazashvili “has established control over freight transportation industry”.

The forming ruling party pointed that by decision of January 6, the government has handed over to LLC Georgian Post a monopoly on serving parcels, incoming through land and sea, and their delivery within the country. More...


FINANCE MINISTRY’S INVESTIGATION SERVICE: “L&K HOLDING” INFLICTED DAMAGE OF 2.3M LARI TO THE STATE

Investigation Service of the Finance Ministry considers that LLC L&K Holding has inflicted damage of 2.3 million lari to the state. The matter concerns land site of 20,000 square m in Batumi, which was acquired for 800,720 lari at the auction in 2008. More...


FIRST WINE FESTIVAL TO BE HELD IN TELAVI

Kakheti Winemakers Guild is going to hold first wine festival “Telavino” in Telavi on November 7. Participation in the event will take 22 wine companies from Kakheti, as well as from other regions of Georgia. More...


THE GOVERNMENT APPROVED ESTABLISHMENT OF 5 NEW ENTERPRISES

The government approved today establishment of 5 new enterprises. As the Ministry of Economy and Sustainable Development has reported, the matter concerns total investment of $8 million within 2 years, which will create up to 400 jobs. More...


ECONOMIC PRESS MONITOR October 30, 2014

Rezonansi: “GRAIN GROWERS SUED AZERI GIANT IN COMPETITION AGENCY”

Grain Growers Association call Competition Agency to investigate monopoly situation in the field. The Agency must complete study in 10 months at most. More...


Netgazeti.Ge: “WHAT PLANS IN GEORGIA HAVE INVESTORS FROM ASIA”

The article reports that business groups, taking part in investment forum, which undergoes in Tbilisi, expressed interest to agriculture, energy, road infrastructure.

President of Confederation of Asia-Pacific Chambers of Commerce Jemal Inaishvili says that “One of the objectives of the forum is to win interest of our Asian partners”. More...


Tabula: “IN “DOING BUSINESS” RANKING, GEORGIA WENT DOWN BY ONE POSITION”

According to the World Bank’s Doing Business report of 2015, Georgia went to the 15th place in terms of ease of doing business from the 14th, occupied in the previous report.

Since last year, Georgia’s position has worsened in several components, including the biggest decline in tax sector, which makes up 16 points compared to the last year, the article says. More...


Exchange Rates (NBG)
  10/30/14 + / -
  USD   1.7544   0.0010
  EUR   2.2097   0.0262
  RUR   4.0429   0.0727
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