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DAILY NEWS May 30, 2016

REAL GDP ANNUAL GROWTH IN APRIL MADE UP 4.3%

Sakstat published estimation for April, saying that rate of real GDP growth in comparison with same month of 2015 made up 4.3%. To compare, annual growth in March made up 3.4%. More...


THE PARLIAMENT’S BUDGET OFFICE: GEORGIA’S ECONOMIC IN 2016 WILL GREW BY 3.2%

According to latest (May) forecast of the Parliament’s Budget Office, Georgia’s economic will grew by 3.2% in 2016. Thus, the Office decreased by 0.3 percentage points own forecast, published in January. More...


IN JANUARY-MARCH, FACTUAL SPENDING OF THE GOVERNMENT’S RESERVE FUND MADE UP 83%, WHILE OF THE PRESIDENT’S RESERVE FUND – 48%

The Finance Ministry reported that approved assignations of government’s reserve fund totaled for January-March to 11.55 million lari. At that, factual spending of these assignations amounted to 9.63 million lari, thus making up 83% of approved volume. More...


GEORGIA’S PREMIER: WE HAVE VERY DYNAMIC TRADE RELATIONS WITH SLOVAKIA

“We have very dynamic trade relations with Slovakia”, Georgia’s Prime Minister Giorgi Kvirikashvili declared. “However, there still remains potential in order to improve our trade and investment cooperation”, he pointed. More...


AGRICULTURE MINISTRY: REHABILITATION OF ZEMO SAMGORI IRRIGATION CHANNEL TO BE COMPLETED IN DECEMBER

Agriculture Ministry declared that rehabilitation of upper main channel of Zemo Samgori irrigation system in Gardabani municipality (Kvemo Kartli region) will be finished in December. Rehabilitation with cost of 512,000 lari was launched in April, the Ministry noted. More...


AGRICULTURE MINISTRY: CONSTRUCTION OF MUKHURI SCIENTIFIC BEEKEEPING BASE TO BE FINISHED IN NEAR FUTURE

Agriculture Ministry announced that construction of scientific beekeeping base in Mukhuri village (Chkhorotsku municipality of Samegrelo region) will be completed in near future and large-scale studies of Georgian bee will started. Cost of works is not indicated. More...


IVANISHVILI: ONE OF THE MOST IMPORTANT ACHIEVEMENT OF OUR GOVERNMENT IS SHIFTING THE COUNTRY FROM DEBT ECONOMY TO INVESTMENT ONE

Georgia’s ex-premier, billionaire Bidzina Ivanishvili has released open letter today, where he criticizes government of National Movement and speaks about achievement of Georgian Dream.

“One of the most important achievement of our government is shifting the country from debt economy to investment economy”, the letter states. More...


ECONOMY MINISTRY: STUDENTS OF ESM TO WORK OUT DEVELOPMENT PROJECT FOR SATSIRE RESORT

Ministry of Economy and Sustainable Development declared that students of ESM (business school of Free University) will work out business plan for development of Satsire resort, located in Tkibuli municipality (Imereti region).

By the moment, construction and rehabilitation of cottages and guesthouses in the resort are held under aegis of Satsire Development Fund, the Ministry said, noting that there are also plans to build bike paths, sport complexes and hotels. More...


“TELASI” NOT TO PAY DIVIDENDS FROM PROFIT OF 2015

JSC TELASI (Tbilisi energy distributor) reported that its recently held shareholders meeting has decided not to pay dividends from profit of 2015.

Profit of the company for the mentioned year amounts to 6.57 million lari, reducing almost 4.3 times year-on-year. More...


ECONOMY MINISTRY: ADDITIONAL FLIGHTS APPOINTED ON KAZAKHSTAN-BATUMI ROUTE

Starting from June 1, Kazakh air company SkyBus will launch additional flights between Kazakhstan and Georgia, Georgia’s Ministry of Economy and Sustainable Development announced.

Civil Aviation Agency has issued 3-month permission on charter flights to the air company, the Ministry said. More...


ECONOMIC PRESS MONITOR May 31, 2016

Rezonansi: “AFTER ELECTIONS, ISSUE OF BIG HYDROELECTRIC STATIONS WILL BE SURGED UP”

Until there is pre-election period, the government speaks less about issue of hydroelectric stations. Everyone fears to make population angry, especially when the matter concerns KhudonHES, which construction is objected by local residents, the newspaper states. More...


Rezonansi: “MAJORITY OF FAMILIES “GOES IN MINUS””

According to data of Sakstat for 2015, monthly income of one person amounts to 284.5 lari on average, while income of one family – to 1,022 lari. At that, monthly spending of one household makes up 1,004 lari, while per capita – 279.6 lari. More...


Forbes Georgia: “WHAT PART OF GEORGIAN POPULATION LIVES IN POVERTY?”

Showing of poverty, registered in Georgia in 2015 (i.e. share of beneficiaries of state allowance), made up 10.1%, i.e. every 10th person is poor, the magazine writes.

According to the mentioned showing, poverty in 2014 made up 11.6%, in 2012-2013 – 9.7%. More...


Tabula: “$5 OR $6 BILLION – IVANISHVILI INCORRECTLY SPECIFIES SIZE OF CO-INVESTMENT FUND”

In his open letter, ex-premier Bidzina Ivanishvili speaks, in particular, about Co-Investment Fund, established by his initiative, but makes a mistake, while specifying capital of own Fund, the magazine points.

“By my initiative, Co-Investment Fund was established, which has already mastered large part of announced $5 billion”, the letter states. More...


SPECIAL REPORT May 20, 2016

CONSTRUCTION - 2015

In 2015:

- The volume of construction output increased by 4% compared to the corresponding indicator of 2014 and amounted to 4,254 mln GEL.

- Foreign Direct Investments in the construction sector declined by 59% compared to the previous year. More...


Exchange Rates (NBG)
  05/30/16 + / -
  USD   2.1472   0.0011
  EUR   2.3913   0.0072
  RUR   3.2507   0.0024
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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