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DAILY NEWS September 20, 2019

NBG TO HOLD EXTRAORDINARY MEETING OF MONETARY POLICY COMMITTEE

National Bank of Georgia (NBG) declared that extraordinary meeting of Monetary Policy Committee will be held on September 25. As NBG said, the Committee will discuss the monetary policy rate. More...


NBG IDENTIFIED 5 INTERMEDIATE GOALS OF MACROPRUDENTIAL POLICY

National Bank of Georgia (NBG) published strategy of macroprudential policy, which identifies 5 intermediate goals.

The strategy is developed, taking into account recommendations of the European Systemic Risk Board, NBG said. More...


BUSINESS OMBUDSMAN NEGATIVELY ESTIMATES PLANNED AMENDMENTS TO LABOR CODE

Presented amendments to the Labor Code “roughly intervene in relations between business and employee”, Georgia’s business ombudsman Irakli Lekvinadze declared. Such amendments “will bring much more negative results, than those expectations and objectives, to which they are intended”, he pointed. More...


SINCE JULY 2020, INSURED PART OF RETAIL DEPOSITS TO GROW IN VOLUME 3 TIMES

Fiscal Committee of Georgian Parliament declared that since July 1, 2020, insured part of natural persons’ deposits will increase 3 times, up to 15,000 lari.

The system of deposit insurance is enacted in Georgia since January 1, 2018, envisaging insurance of retail deposits’ part, making up currently 5,000 lari. More...


FINANCE MINISTER: IT IS NECESSARY TO IMPOSE TAX ON CUT TOBACCO

Georgia’s Finance Minister Ivane Machavariani declared that cut tobacco surely has to be taxed. This issue “should be brought in order, as it really turns out that one of the main excise goods is not taxed”, he pointed. More...


OIL AND GAS AGENCY: LARGEST OIL COMPANIES HAVE STUDIED GEORGIA’S CAPACITY

Georgian State Oil and Gas Agency said that on the basis of contract, largest oil companies have studied geological and geophysical data of Georgia.

As the Agency specified, the companies estimated potential of hydrocarbon resources in license areas in Western Georgia. More...


TBILISI CITY HALL: ADDITIONAL 25M LARI ARE ALLOCATED FOR REHABILITATION OF GUDIASHVILI SQUARE IN 2019-2020

Tbilisi City Hall reported that additional 25 million lari are allocated for rehabilitation in 2019-2020 of Gudiashvili Square in historical part of the city.

Cost of rehabilitation, conducted in 2018-2019, makes up 37 million lari, the City Hall noted. More...


ROADS DEPARTMENT: REHABILITATION OF BAGDATI-ABASTUMANI ROAD WILL BE FINISHED UNTIL 2022

The project of Bagdati-Abastumani road rehabilitation (total length – 61.5 km) was launched in 2018, and will be implemented step by step until 2022, Georgian Roads Department declared.

The Department said that the rehabilitation is conducted within the project of mountain roads’ development, and its estimated cost makes up 324 million lari. More...


NON-AGRICULTURAL LAND PLOT IN TBILISI IS ON SALE FOR 2.99M LARI

Georgian National Agency of State Property put on electronic auction a non-agricultural land plot, located near railway station Lilo in Tbilisi.

Starting price of the land plot of 45,437 square m with existing structures makes up 2.99 million lari. More...


HAZELNUT DRYING AND STORING ENTERPRISE LAUNCHED IN ZUGDIDI MUNICIPALITY

The enterprise for hazelnut drying and storing is launched in the village Koki of Zugdidi municipality (Samegrelo region), Georgian Ministry of Environmental Protection and Agriculture reported.

According to the Ministry, the enterprise is created with assistance of the Agency for Rural and Agricultural Development, “AgriGeorgia” project of Ferrero company (owning large hazelnut plantations in Samegrelo region) and the USAID-funded “Georgia Hazelnut Improvement Project” (G-HIP). More...


ECONOMIC PRESS MONITOR September 20, 2019

Bankebi da Finansebi: “THEA TSULUKIANI – OVER 37,000 PEOPLE ARE EXEMPTED FROM VERY BIG FINANCIAL BURDEN”

Georgian Justice Ministry declared that penalties of 23.54 million lari will be written off for citizens. The decision applies to persons, who committed administrative offenses before January 15 of this year, the newspaper reports. More...


Tabula: “BECAUSE OF REDUCED TOURISM FROM IRAN, GEORGIA LOST 260 MILLION LARI IN 2019”

In 8 months of this year, Georgia was visited by 91,858 Iranians that is by 60% less than in the same period of last year, Tabula reports.

As Tabula notes, Iranian tourists in Georgia are distinguished with high expenses. More...


Forbes Georgia: “BY LABOR QUALIFICATION, GEORGIA IS ON THE 70TH PLACE IN THE WORLD”

In its rating of labor qualification, the World Economic Forum (WEF) places Georgia on the 70th place among 140 countries of the world, the magazine reports. Georgia’s scoring makes up 5.3 (the best score – 7). More...


Forbes Georgia: “EBRD CONSIDERS ALLOCATION OF 50M EUR TO TBILISI”

EBRD considers allocation of credit of 50 million EUR for Tbilisi, the magazine reports. Funds will be allocated within the “Green City” concept. More...


SPECIAL REPORT September 3, 2019

GENDER PAY GAP IN GEORGIA

Gender pay gap has become a prominent issue across the world. Indeed, women on average earn 25% less than men in a number of Western countries1. More...


Exchange Rates (NBG)
  09/20/19 + / -
  USD   2.9759   0.0021
  EUR   3.2860   0.0042
  RUR   4.6659   0.0253
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