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DAILY NEWS August 16, 2016

ENERGY STRATEGY: BIGGEST GROWTH OF ENERGY CONSUMPTION UNTIL 2026 IS EXPECTED IN TRANSPORT, INDUSTRY AND HOUSEHOLD SECTORS

According to scenarios, which are described in Georgia’s energy strategy, biggest growth of energy consumption until 2026 is expected in transport (51-104%), industry (41-104%) and household (48-80%) sectors. Relatively low growth will be in commercial (26-74%) and agricultural (28-72%) spheres, the document states. More...


ENERGY STRATEGY: FROM ECONOMIC POINT OF VIEW, TURKISH ELECTRICITY MARKET IS PRIORITY FOR GEORGIA

“From economic point of view, Turkish electricity market is priority for Georgia, taking into account its scales, as well as possibility of access to European market”, Georgia’s energy strategy states.

As the strategy points, “In conditions, when prices of electricity are different in the countries of the region and when the mentioned countries are seasonally proficient, it is expected that electricity transit flows among Turkey, Armenia and Russia can be mainly established via Georgia’s electricity system”. More...


ENERGY MINISTRY: STUDY OF GEORGIA’S WATERSHEDS AND IDENTIFICATION OF POTENTIAL HPPS ARE CONDUCTED THROUGH NORWEGIAN GRANT

Energy Ministry reported about implementation of international project, being financed through grant of Norway’s Foreign Ministry. The project aims identification of potential hydroelectric stations through study and evaluation of Georgia’s watersheds, the Ministry said. More...


THE GOVERNMENT APPROVED NATIONAL STRATEGY ON HEPATITIS C ELIMINATION IN 2016-2020

At the meeting today, the government approved national strategy on elimination of hepatitis C for 2016-2020.

By 2020, the government aims to screen 90% of patients, infected with hepatitis C, treatment of 95% of chronic patients and recovery of 95% of them. More...


KAZAKH DELEGATION ACQUAINTS WITH NBG’S EXPERIENCE

National Bank of Georgia (NBG) reported about today’s visit of delegation of Kazakhstan’s Central Bank. As NBG said, main goal of the delegation is visit to NBG’s cash center and share NBG’s experience. More...


CIVIL AVIATION AGENCY: NEW FLIGHTS WILL BE MADE FROM IRAN TO GEORGIA

Civil Aviation Agency of Economy and Sustainable Development Ministry reported that new charter and regular flights will be conducted from Iran to Georgia. The Agency has already issued respective permissions. More...


CONSTRUCTION OF AIRDROME IN AMBROLAURI IS PLANNED TO COMPLETE UNTIL END OF THE YEAR

Construction of airfield in Ambrolauri (Racha region) is planned to be finished by the end of this year, the government declared.

In order to ensure swift implementation of construction, equipment and put of the airport in operation, the government will conduct simplified procurement. More...


MOST SLAUGHTERHOUSES END ELEVATORS ARE LOCATED IN KVEMO KARTLI, WHILE COLD STORAGES – IN TBILISI

Sakstat reported that there were 85 slaughterhouses (both cattle and poultry), operating in Georgia in the 2nd quarter. Of it, 17.6% is located in Kvemo Kartli region. More...


LAND TRANSPORT INSURANCE OCCUPIES 30.9% IN PORTFOLIO OF “UNISON”

State Service for Insurance Supervision reported that in total premium, attracted by insurance company Unison in the 1st quarter, insurance of land transport (except railway) accounted for 30.9% (973,557 lari). If compared with the same period of 2015, this premium of the company has jumped by 89.2%. More...


LAND TRANSPORT INSURANCE OCCUPIES 88.9% IN PORTFOLIO OF “KOPENBUR”

State Service for Insurance Supervision reported that in total premium, attracted by insurance company Kopenbur in the 1st quarter, insurance of land transport (except railway) accounts for 88.9% (1.87 million lari). If compared with the same period of last year, this premium of the company has decreased by 4.3%. More...


THE GOVERNMENT APPROVED PROJECTS OF 4 NEW ENTERPRISES

At today’s meeting, the government has approved projects of 4 new enterprises, including 2 ones submitted within “Produce in Georgia” state program. In total, these enterprises will create up to 400 jobs, administration of the government stressed. More...


ECONOMIC PRESS MONITOR August 16, 2016

Rezonansi: “MINIMAL SUM ENTERS THE BUDGET FROM GAMBLING BUSINESS”

According to Revenue Service, gambling business paid 52.65 million lari to the budget in 2011, up to 52.77 million – in 2012, 54.12 million lari – in 2013, 63.14 million lari – in 2014, up to 66.49 million lari – 2015.

Gambling business is mainly subjected to payment of dues and biggest sum in this term is mobilized from fees, imposed on slot machines, the newspaper notes. More...


Bankebi da Finansebi: “QUALITY OF PETROL STANDS AT CRITICAL POINT IN GEORGIA”

Ministry of Environment and Natural Resources Protection conducts control of quality of petrol and diesel fuel in Tbilisi since May.

Special study found that samples, taken from every filling station, comply with the current standards, established by law. More...


Forbes Georgia: ““TBC BANK” IN SEARCH OF MORE INNOVATIONS”

Lasha Gurgenidze, manager of innovation projects at TBC Bank, considers that if banks fail to react relevantly on these innovative changes, “they will be rearranged in the next few years into “back offices” of other companies or even find themselves offside”.

“As a rule, new innovative technologies need 5-6 years to return the made investments back”, Gurgenidze notes. More...


SPECIAL REPORT July 20, 2016

EXTERNAL TRADE – I-II QUARTERS, 2016

In the first half of 2016, compared to the corresponding period of the previous year:

- The volume of exports reduced (-5.7%) overall with the declines especially steep in the export of Ferro-alloys (-32.6%), motor cars (-24.5%) and medicaments (-24.4%).

- Without including medicaments for hepatitis C the volume of imports also decreased (-7.0%) overall with significant declines in the import of petroleum oil (-20.2%), petroleum gases (-28.6%) and motorcars (-15.3%). More...


Exchange Rates (NBG)
  08/16/16 + / -
  USD   2.3226   0.0128
  EUR   2.6183   0.0087
  RUR   3.6439   0.0161
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