Daily News

IN THIS ISSUE:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).