Economic Press Monitor

IN THIS ISSUE:

According to decree of the government, subsidizing of natural gas supply to household consumers will continue.

In particular, Georgian Oil and Gas Corporation, within existing contracts, is ordered to supply gas in period from March 1, 2015 to March 1, 2016 for $115.5 instead of $121.2 (for 1,000 cubic m).

Elgad Investment&Development company objects the order of Georgian Prime Minister of March 10 of this year and declares that this document creates risk of loss of investments, which are made from Israel in Georgia.

Lawyer of the company David Ebralidze declares that the order allows company TAV Management to obtain license, to take in usufruct the territory of aviation plant and, respectively, allows it to manufacture and to sell planes.

In his interview with the newspaper, director general of insurance company Unison Vasil Akhrakhadze declares that his company is in top three on the local market and occupies 19% in terms of attracted premiums’ volume.

“We are leaders in property insurance, where our market share grew in 2014 by 32% in comparison with previous year”, Akhrakhadze says.

Eprem Urumashvili from law firm Nodia, Urumashvili and Partners welcomes plans of the government regarding release of reinvested profit from profit tax.

However, declares Urumashvili, “It is important, we know precisely, with which parameters release of the invested profit will be carried out and what categories of taxpayers will use this privilege”.