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DAILY NEWS December 19, 2014

ESTIMATION: REAL GDP GROWTH IN Q3 MADE UP 5.6%

Sakstat reported estimation for the 3rd quarter, saying that real GDP amounted to 7.54 billion lari (in current prices). If compared with the same period of 2013, growth made up 5.6%, while deflator increased by 4.5%. More...


“FORBES” PLACES GEORGIA 47TH IN LIST OF “BEST COUNTRIES FOR BUSINESS”

Forbes’ rating of “Best Countries for Business” for 2015 placed Georgia on the 47th position among 146 countries of the world, naming it the leader of the region. Since the previous report, Georgia’s ranking has improved by 3 positions. More...


GERMANY TO ALLOT PREFERENTIAL LOAN OF 20M EUR TO GEORGIA

Germany has decided to allocate to Georgia a preferential loan of 20 million EUR, Georgian Finance Ministry reported. Georgia can sign a loan agreement in the next 7 years, the Ministry said. More...


CHINA TO ALLOCATE GRANT OF $4.8M TO GEORGIA

Agreement on economical and technical cooperation between Georgia and China was signed at Georgia’s Finance Ministry today. Within the agreement, China will allocate a grant of 30 million CNY (about $4.8 million) to Georgia. More...


AVERAGE MONTHLY NUMBER OF LOCAL TOURISTS MADE UP 1.12M IN Q3, WHILE AVERAGE NUMBER OF VISITS – 1.41M

Sakstat reported that average monthly number of local tourists (age group – 15 years and above) made up 1.12 million in the 3rd quarter.

At that, women accounted for 56.5% of total number, making up 635,400 in number, while monthly average number of men was 489,400. More...


LOCAL TOURISM’S AVERAGE MONTHLY SPENDING IN Q3 AMOUNTED TO 239.6M LARI

Sakstat reported that average monthly spending of local tourists of 15 years and above amounted in the 3rd quarter to 239.6 million lari. Average spending per visit made up 170 lari. More...


VISITING FRIENDS AND RELATIVES ACCOUNTED FOR ALMOST HALF OF LOCAL VISITS IN Q3

Sakstat reported that out of monthly average number of visits of local tourists (15 years and above) in the 3rd quarter (1.41 million), visiting friends and relatives accounted for 48.6% (685,400 visits).

Next popular purposes were holidaymaking, entertainment and recreation – 15.3% (215,000 monthly visits on average) and shopping – 12.4% (174,700 visits). More...


REVENUES OF “GEORGIAN RAILWAY” FROM LIQUID FREIGHT TRAFFIC DECLINED BY 0.4% Y-O-Y, WHILE FROM DRY CARGO – INCREASED BY 12% Y-O-Y

JSC Georgian Railway reported that out of total revenues from freight service for 9 months (273.6 million lari), liquid freight traffic accounted for 51.64% (141.3 million lari). If compared with the same period of 2013, the volume has declined by 0.4%. More...


OPERATING COSTS OF “GEORGIAN RAILWAY” FOR 9 MONTHS INCREASED BY 4.8% Y-O-Y

JSC Georgian Railway reported that its operating costs for 9 months amounted to 275.52 million lari. If compared with the same period of 2013, the volume has increased by 4.8%. More...


“MOBITEL” APPEARED THE ONLY BIDDER FOR GEORGIA’S FIRST 4G LICENSE

The only application on Georgia’s first auction on 4G mobile communications license was submitted by LLC Mobitel, mobile communications company, operating under Beeline brand.

Deadline for applications’ submission on the auction, announce by National Communication Commission on November 28, has expired today. More...


“BTA” RENAMED INTO “SILK ROAD BANK”

Order of National Bank of Georgia’s vice president allowed Georgian bank BTA to change its name to Silk Road Bank.

To remind, Silk Road Group, which owned 50.99% of the bank’s shares as of end of the 3rd quarter (owner of 49% was Kazakh bank BTA), owns currently 99.9%. More...


MEDICAL INSURANCE ACCOUNTED FOR OVER 53% OF PREMIUM, ATTRACTED BY “GPI HOLDING” IN Q3, AND FOR OVER 75% OF REIMBURSES

State Insurance Supervision Service reported that in terms of premiums, attracted in the 3rd quarter, GPI Holding with 61.16 million lari was a leader on Georgian insurance market. If compared with the same period of 2013, premium of this company has decreased by 12.99%, however. More...


ECONOMIC PRESS MONITOR December 19, 2014

Tabula: “JAPARIDZE: WHEN LARI DEVALUATES, FOOD STAFF AND DRUGS INCREASE IN PRICE”

Zurab Japaridze, executive secretary of United National Movement, declares that “event most felt for population by the end of previous as well as by the end of this year, is devaluation of lari”.

Devaluation of lari is followed by price increase on drugs and foodstuff, Japaridze declared in live show of broadcasting company Tabula. More...


Versia: “WHAT AFFECT RUSSIAN CURRENCY FAILURE WILL HAVE ON GEORGIAN ECONOMY?”

While commenting to the newspaper events in Russian economy, founder of Center for Economic Development Roman Gotsiridze declares that “the main threat is decline of remittances from Russia”. “Everything else can be dealt with”, he regards. More...


Versia: “METASTASES OF MAFIA”

The article reviews businesses, associated with David Kezerashvili (head of Financial Police during the period of National Movement and former head of Defense Ministry). The subtitle of the article reads “Kezerashvili’s two cartels: fuel and advertisement”. More...


Exchange Rates (NBG)
  12/19/14 + / -
  USD   1.9156   0.0010
  EUR   2.3495   0.0141
  RUR   3.1568   0.0588
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