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DAILY NEWS January 28, 2015

OUT OF GEORGIA’S INDEBTEDNESS TOWARDS MULTILATERAL CREDITORS, DEBTS TO IMF, EBRD AND IDA REDUCED IN 2014

According to the Finance Ministry’s data of December 31, 2014, Georgia’s external public debt towards multilateral creditors has amounted to $2.91 billion (69.36% of the total external public debt). If compared with the same period of 2013, the volume has increased by 4.41%. More...


PUBLIC INTERNAL DEBT REACHED 1.9B LARI BY THE END OF 2014

According to the Finance Ministry’s data of December 31, 2014, Georgia’s public internal debt has reached 1.9 billion lari. If compared to the same period of 2013, the volume has increased by 41.16%. More...


LARI RATE PASSED LEVEL OF 2 GEL/USD

Official rate of lari, established by National Bank of Georgia (NBG) for January 28, has passed psychological level of 2 GEL/USD and made up 2.0144 GEL/USD, while dropped to 2.0311 GEL/USD for January 29 (NBG establishes the rate on about 17:00 daily, which is effective for the next day).

Last time, such low exchange rate of national currency was fixed in early April of 2004. More...


GEORGIA’S SCORE IN ECONOMIC FREEDOM INDEX OF “HERITAGE FOUNDATION” IMPROVED BY 0.4 POINTS

Georgia’s score in Heritage Foundation’s Index of Economic Freedom has improved by 0.4 points compared to last year and made up 73.0. Georgia with status of “mostly free country” is again on the 22nd place among 178 countries of the world. More...


“YOUNG BARRISTERS”: INTRODUCTION OF CERTAIN CRITERIA FOR FOREIGN CITIZENS’ LAND OWNERSHIP DOES NOT CONTRADICT TO INTERNATIONAL PRACTICE

Non-governmental organization Young Barristers considers that establishment of certain criteria for land ownership in Georgia by foreign citizens and persons without citizenship does not contradict to international practice.

“The government must always control land alienation, because the land is economic, social and cultural value”, the organization said. More...


DOMESTIC TURNOVER WITH RESIDENT ISSUERS’ CARDS INCREASED IN 2014 BY 21.08%

National Bank of Georgia reported that domestic turnover with cards, issued by resident issuers, amounted in 2014 to 10.08 billion lari. If compared with 2013, this volume has increased by 21.08%. More...


FOREIGN TURNOVER WITH RESIDENT ISSUERS’ CARDS INCREASED IN 2014 BY 18.94%

National Bank of Georgia reported that foreign turnover with cards, issued by resident issuers, amounted in 2014 to 740.2 million lari. If compared with 2013, the volume has increased by 18.94%. More...


VISA’S SHARE IN DEBIT CARDS DECREASED IN 2014

National Bank of Georgia reported that Visa cards accounted in 2014 for 47.67% of total debit cards in circulation (against of 62.58% in 2013). Number of these cards made up 2.97 million, increasing by 3.18% year-on-year. More...


SHARE OF EC/MC IN CREDIT CARDS INCREASED IN 2014

National Bank of Georgia reported that Visa cards accounted in 2014 for 62.4% of total credit cards in circulation (against of 74.64% in 2013). Number of these cards made up 909,742, decreasing by 10.94% year-on-year. More...


SALARIES OF TBILISI EMERGENCY CENTER’S NURSES TO INCREASE

Tbilisi Mayor David Narmania has declared at the city government’s meeting today that salaries of Tbilisi emergency center’s nurses will increase.

The Mayor said that monthly wage of head nurse will increase by 100 lari and will reach 850 lari, while wage of nursing aid will grow by 125 lari and will reach 750 lari. More...


ECONOMIC PRESS MONITOR January 28, 2015

Bankebi da Finansebi: “FOR 2016, GEORGIA WILL HAVE LONG-TERM ENERGY DEVELOPMENT STRATEGY FOR THE FIRST TIME”

In an interview with the newspaper, Vice-Premier and Energy Minister Kakha Kaladze says that the Ministry works on Georgia’s energy development long-term strategy.

“Energy policy document is already submitted to the Parliament. More...


Tabula: “KADAGIDZE: THE MAIN THING IS THAT DEVALUATION OF LARI NOT TO GROW INTO TOTAL PRICE INCREASE”

Giorgi Kadagidze, president of National Bank of Georgia (NBG), declares that “the main goal of NBG today is not to (allow) grow of lari devaluation towards dollar into total price increase”.

“In case, if we see that inflationary expectations, existing in public today, have grown or there is a risk of growth into substantial price increase, we will conduct for sure the appropriate policy and we will have an adequate response”, Kadagidze notes. More...


Tabula: ““UNM” DEMANDS REVISION OF LIVING WAGE AND CORRESPONDING METHODOLOGY”

United National Movement (UNM) demands revision of living wage. According to Gigi Tsereteli, MP from this oppositional party, correction of living wage is essential in conditions when food and drugs have increased in price. More...


Netgazeti.Ge: ““PROCREDIT BANK” LEAVES MICRO-LENDING MARKET”

As director general of Georgian ProCredit Bank Asmus Rotne declares, “Following the bank’s new strategy, we have passed to a new stage of development and as a result, all resources will be directed to service of SME sector”.

On her part, deputy director general Ketevan Khuskivadze declares that sale of microcredit portfolio is under consideration, “but the decision is not made yet”. More...


Exchange Rates (NBG)
  01/28/15 + / -
  USD   2.0311   0.0167
  EUR   2.3055   0.0343
  RUR   3.0222   0.0477
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