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DAILY NEWS August 15, 2014

LATEST FORECAST OF IMF: GEORGIA’S REAL GDP TO GROW UP BY 5% ANNUALLY IN 2014-2015

According to latest forecast of IMF, Georgia’s real GDP to grow up by 5% annually in 2014-2015. Forecast of Georgian government coincides with these figures. More...


ISET POLICY INSTITUTE: FORECAST FOR REAL GDP GROWTH INCREASES

According to forecast, published by Policy Institute of International School of Economics at Tbilisi State University (ISET Policy Institute), real GDP growth for the 2nd quarter will make up 7.7% (previous forecast – 7.5%). For the 3rd quarter, ISET Policy Institute forecasts real GDP growth by 7.5% (previous forecast – 7.1%). More...


FDI IN 2013 EXCEEDED BY 3.3% VOLUME OF 2012

Sakstat published adjusted data, saying that foreign direct investments (FDI) in 2013 amounted to $942 million. That volume has exceeding by 3% preliminary evaluation for that year and by 3.3% – FDI volume of 2012. More...


AVERAGE CONSUMER’S LIVING WAGE MADE UP 128.2 LARI IN JULY

According to Sakstat, living wage for average consumer made up 128.2 lari in July. For average family, this showing amounted to 245.7 million lari. More...


ISET POLICY INSTITUTE: CCI IN REGIONS INCREASES ON BACKGROUND OF TOURIST SEASON

Policy Institute of International School of Economics at Tbilisi State University (ISET Policy Institute) reported that consumer confidence index (CCI) decreased by 1.5 points in June, making up -11.4 points.

At that, the Institute said that CCI has increased in regions (by 1.7 points, to -9.5 points), while decreased in Tbilisi (by 7.2 points, to -14.6 points), connecting this with tourist season and noting that tourism is one of the main sources of income for residents of regions. More...


“BG CAPITAL”: EBRD’S BONDS, DENOMINATED IN LARI, ARE TRADED SELDOM

BG Capital, investment arm of Sakartvelos Banki (Bank of Georgia), told Sarke that trade with EBRD bonds, denominated in lari, “happens seldom”. The company did not provide details on turnover. More...


IN TOTAL DEPOSITS, FIXED ONES LEAD IN VOLUME

According to National Bank of Georgia, in total deposits, placed as of June 30 in 21 banks, operating in Georgia, fixed ones accounted for 43.06%.

If compared with the same period of 2013, share of fixed deposits has decreased by 2.82 percentage points (from respective 45.88%), but their volume has increased still by 12.27%, reaching 4.39 billion lari. More...


“ALDAGI BCI” AND “GPI HOLDING” ACCOUNTED FOR 58.81% OF TOTAL INSURANCE PREMIUM IN Q1

According to State Insurance Supervision Service, out of total premium, attracted in the 1st quarter (88.51 million lari), Aldagi BCI and GPI Holding accounted for 58.81%.

Namely, share of Aldagi BCI was 29.54% (26.15 million lari, year-on-year decline – 23.44%), while share of GPI Holding – 29.26% (29.5 million lari, growth – 18.99%). More...


PHARMACEUTICAL ENTERPRISE FUNDED WITHIN “PRODUCE IN GEORGIA” PROGRAM

Economy and Sustainable Development Ministry reported that within state program “Produce in Georgia”, new pharmaceutical enterprise will be created in Tbilisi outskirt Lilo. Agreement on the subject was signed between Agency for Entrepreneurship Development and LLC Ynnovas today. More...


ECONOMIC PRESS MONITOR August 15, 2014

Netgazeti.Ge: “WHY TAKES THE GOVERNMENT A NEW DEBT”

Within 3-year program of IMF, Georgia will get loan of $154 million. As Tbilisi office of IMF says, the program aims support of macroeconomic policy, while part of sum will be directed to the government for the budget financing. More...


Bankebi da Finansebi: “WHY LARI BECAME STRONG”

In the interview with the newspaper, chairman of Georgian Economic Development Center Roman Gotsiridze says: “During first 7 months of the year, there was very fragile balance on the currency exchange, as National Bank did not implement interventions”. During past 10 years, it was the first time, when National Bank of Georgia (NBG) could not manage to increase foreign reserves, he adds. More...


Bankebi da Finansebi: “TBILISI DEVELOPMENT FUND WILL BECAME REALLY IN THE CAPITAL’S SERVICE”

Newly appointed head of Tbilisi Development Fund Temur Khomeriki sees its first task in “respective bodies’ investigation of the Fund’s cash and property flow, so that competence of the Fund in each particular operation should be determined”.

“The second task is continuation, in parallel of respective monitoring, of those programs, which were implemented by the Fund”, Khomeriki declares in his interview with the newspaper. More...


Tabula: “TSERETELI: IT WAS POSSIBLE TO MAKE LIST OF PRESCRIPTION-ONLY DRUGS SHORTER”

MP from National Movement fraction Gigi Tsereteli considers that “definition of such a wide range of drugs, available by prescription only, was a little bit premature”. As he declared at the press briefing yesterday, “It was better, to turn to prescription system gradually”. More...


Exchange Rates (NBG)
  08/15/14 + / -
  USD   1.7280   0.0012
  EUR   2.3110   0.0022
  RUR   4.7998   0.0017
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