GEORGIAN PREMIER DISCUSSED ISSUES OF PARTNERSHIP WITH THE US CONGRESSMEN

Today, Georgia’s Prime Minister Mamuka Bakhtadze met delegation of the House of Representatives of the US Congress, which arrived to Tbilisi on April 15.

As press service of the Premier said, Bakhtadze discussed with the US Congressmen main directions of strategic partnership between Georgia and the US. More...

GEORGIAN ECONOMY MINISTER: OUR GOAL IS DEEPENING OF ECONOMIC COOPERATION BETWEEN GEORGIA AND CYPRUS

On April 16, President of Cyprus Nikos Anastasiadis paid his first official visit to Georgia.

In this connection, Georgia’s Minister of Economy and Sustainable Development Giorgi Kobulia declared that Georgian government seeks deepening of economic cooperation between Georgia and Cyprus. More...

IN 2018, PRODUCTION OF WHEAT INCREASED BY 8.5%, OF BARLEY – BY 33.3%, CORN – BY 33.5%, POTATO – BY 21.1%

Sakstat released estimation, according to which production of wheat in 2018 made up 106,200 t, increasing year-on-year by 8.5%.

Production of barley made up 58,500 t (year-on-year growth – 33.3%), corn – 190,300 t (growth – 33.5%), Sakstat said. More...

ROADS DEPARTMENT: THIS YEAR’S ALLOCATIONS FOR ROAD SAFETY TOTAL TO 15.54M LARI

This year, allocations for road safety measures total to 15.54 million lari, Georgian Roads Department reported.

This sum includes 9 million lari, allocated by the state budget, and 6.54 million lari, provided by the World Bank, the Department specified. More...

BUSINESS OMBUDSMAN: 50% OF APPLICATIONS FROM AJARA REFER TO SECTORS OF CONSTRUCTION AND INFRASTRUCTURE

Georgia’s business ombudsman Irakli Lekvinadze declared that 50% of total applications, submitted to his office from Ajara, “are fixed from the companies, engaged in sectors of construction and infrastructure”.

The business ombudsman noted that most often businessmen are requesting his mediation in their relations with Ajara Ministry of Finance and Economy and Batumi City Hall. More...

“FITCH” AFFIRMED RATINGS OF 4 GEORGIAN BANKS, DEGRADING OUTLOOKS FOR “TBC BANK” AND “SAKARTVELOS BANKI”

Fitch Ratings declared about affirmation on April 16 of ratings of TBC Bank Group and Sakartvelos Banki (Bank of Georgia) at “BB-”. At that, outlook for these largest Georgian banks was decreased from “positive” to “stable”. More...

REQUIREMENTS TO INSURANCE BROKER ARE SPECIFIED

Georgian Parliament considers amendments to law “On Insurance”, envisaging specification of requirements to insurance broker.

According to explanatory note, enclosed to the draft amendments, main aspects of intermediary activity in insurance sphere (insurance broker and insurance agent) are gathered in single article. More...

IN 2018, 3 TYPES OF INSURANCE ACCOUNTED FOR 71.7% OF TOTAL ATTRACTED PREMIUM

Georgian State Service for Insurance Supervision reported that in total premium, attracted in 2018, share of 3 types of insurance made up 71.7% (542.2 million lari). These types are again medical (health) insurance, insurance of land transport (except railway) and property insurance. More...

IN 2018, CONTRIBUTIONS TO NON-STATE INSURANCE PENSION SCHEMES INCREASED BY 4.2% Y-O-Y

Georgian State Service for Insurance Supervision reported that contributions to non-state pension schemes, made in 2018, totaled to 6.65 million lari. If compared with 2017, the volume has increased by 4.2%. More...

Tabula: “KOBULIA ON MAINTENANCE OF AVLABAR RESIDENCE: WHY THERE ARE DOUBLE EXPENSES?”

Former presidential residence in Tbilisi area Avlabar, which was built during presidency of Mikheil Saakashvili, is renamed into “State Ceremony Palace”.

The residence of current President Salome Zurabishvili is located in former Orbeliani palace on Atoneli Street. More...

Tabula: “FOR REHABILITATION OF VENTILATING SYSTEM OF THE SUBWAY, ASIAN DEVELOPMENT BANK ALLOCATED $15M”

Tbilisi Mayor Kakha Kaladze reported that Asian Development Bank (ADB) allocated $15 million for the project on safety of Tbilisi subway and rehabilitation of ventilating systems there.

Works will be started this July and will be completed in June 2020, the Mayor declares. More...

Tabula: “TBILISI CITY HALL STARTED DISMANTLE OF METAL PEDESTRIAN BRIDGES”

Tbilisi City Hall started dismantles of pedestrian bridges in scales of the city, Tabula reports. They will be substituted by the single-level crosswalks, regulated by traffic lights. More...

Bankebi da Finansebi: “IRAKLI IASHVILI – BANKING REGULATION GENERALLY CONCERNED IMPORT-CONTAINING BRANCHES”

“Banking regulation generally concerned import-containing branches”, businessman Irakli Iashvili declares.

Commenting on results of regulation, which were enacted in Georgia this year, Iashvili notes: “I do not know, how much it will slow down economic growth rate, but it is the fact that the balance of payments has improved”. More...

INEQUALITY IN EDUCATION

Human capital development is increasingly seen as the biggest driver of economic growth and the most powerful tool in the fight against poverty (World Bank, 2018). This idea is embodied in the World Bank’s new initiative – Human Capital Project, which is designed to stimulate more and better investment in human capital. More...