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DAILY NEWS June 23, 2017

MORATORIUM IMPOSED ON RECEIVING BY FOREIGNERS OF AGRICULTURAL LAND OWNERSHIP RIGHT

Starting from today and until corresponding amendments to the Constitution will enter in force, moratorium is declared on receiving by foreigners of agricultural land ownership right.

During the moratorium, foreigners will not be able to register ownership right on agricultural land plots, National Agency of Public Register pointed. More...


INTERNATIONAL PRACTICE AND STANDARDS OF ASSESSMENT DISCUSSED IN TBILISI

On June 22-23, Tbilisi hosted the 2nd academic and research international conference on assessment issues. Organizers of the event were Georgian Partnership Fund and Georgian Society of Independent Appraisers. More...


IN 2016, RATE OF SELF-SUFFICIENCY WITH MEAT INCREASED BY 1 PERCENTAGE POINT

Sakstat reported that in 2016, rate of self-sufficiency with meat made up 48%. In 2015, this indicator made up 47%. More...


REGULATING COMMISSION OBLIGED BROADCASTING COMPANIES TO AIR SOCIAL ADVERTISEMENT OF CONSTITUTIONAL COURT

National Communication Commission reported that it has considered complaint of the Constitutional Court against broadcasters, Public Broadcaster and Rustavi-2.

The Commission specified that subject of complaint was refusal of these companies to air commercial of the Constitutional Court with status of social advertisement. More...


CONSTRUCTION OF “SHUAKHEVIHES” FINISHED

On June 24, Prime Minister Giorgi Kvirikashvili will visit Ajara and will participate in the ceremony of formal completion of construction of ShuakheviHES, administration of the government reported.

The administration pointed that ShuakheviHES is first hydroelectric station in Georgia, which is certified on reduction of carbon dioxide emission according to the UN framework convention “On Climate Change”. More...


REHABILITATION OF GOMARETI-CHOCHIANI ROAD IS PLANNED

Ministry of Regional Development and Infrastructure reported that its Roads Department plans rehabilitation of Gomareti-Chochiani road (Kvemo Kartli region).

The section, subjected to rehabilitation (approximately 7 km in length), is amortized, macadam is heavily damaged and traffic is complicated there, the Ministry said, specifying that rehabilitation on this site was not conducted for more than 30 years. More...


GAS TO BE INSTALLED IN 6 VILLAGES OF ABASHA MUNICIPALITY

Administration of Abasha municipality (Samegrelo region) declared that until end of the year, gas will be installed in 6 villages of administrative unit Norio. Accordingly, gas supply to 1,257 consumers will be ensured. More...


TWO MORE AIRLINES TO LAUNCH FLIGHTS TO BATUMI

Starting from June 25, Jordanian air carrier Royal Wings will conduct charter flights from Amman to Batumi, Georgian Ministry of Economy and Sustainable Development reported.

Flights will be conducted 2 times a week (on Mondays and Sundays) through September 10, by Airbus 320 and Boeing 737. More...


ECONOMIC PRESS MONITOR June 23, 2017

Rezonansi: “INCREASE OF GAS IN PRICE WILL LIFT INFLATION ON NEW HEIGHT”

Statistician Soso Archvadze declares that increase of gas tariff “will automatically cause price growth of other products, in a bread component only the difference will be 10-15%”. “The same can be said about transportation costs and other components”, he notes. More...


Rezonansi: “SINCE JULY, EVERYBODY WILL ADD 2-3 THOUSANDS ON REAL ESTATE”

Neli Goguadze, founder of real estate agency Kibe, points: “We are on the market for 12 years already and I cannot recall even single case, when the real estate would be sold in lari”.

Concerning demand on real estate price declaration in lari only, which enters in force on July 1, Goguadze says: “I support pricing in lari, but for that end we have to have steady currency, in order the population did not suffer financially”. More...


Netgazeti.Ge: “GYLA WILL CONTINUE LAWSUIT ON CASE OF “PANORAMA TBILISI” IN APPEAL COURT”

On June 22, Tbilisi city court’s chamber of administrative cases partially stopped proceedings on claim of Georgian Young Lawyers Association (GYLA), where defendants were Agency for Construction and Technical Supervision and Ministry of Economy and Sustainable Development. GYLA will be object this decision in appeal court, Netgazeti.Ge reports. More...


Bankebi da Finansebi: “AT THIS STAGE, 15 HYDROELECTRIC STATIONS ARE UNDER CONSTRUCTION IN THE COUNTRY”

Deputy Energy Minister Ilia Eloshvili pointed that for the last 4 years, construction of 16 hydroelectric stations was finished. That means that construction of generation facilities with total capacity of 500 MW is completed, he noted and added: these are direct foreign investments of about $600-700 million. More...


SPECIAL REPORT June 22, 2017

BUSINESS SECTOR – I QUARTER, 2017

In the first quarter of 2017, compared to the corresponding period of 2016:

- The production value of the business sector significantly increased (16%);

- A 19.1% increase in total turnover was observed;

- The number of persons employed in the business sector increased (4.7%; 27,000 persons);

- The average monthly remuneration of persons employed in the business sector increased (11%; GEL 101.6).

In the first quarter of 2017, compared to the corresponding period of 2016, the production value of the business sector significantly increased (16%). More...


Exchange Rates (NBG)
  06/23/17 + / -
  USD   2.4110   0.0030
  EUR   2.6921   0.0040
  RUR   4.0425   0.0154
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