Economic Press Monitor
January 27, 2015
IN THIS ISSUE:
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| 1. |
LARI IS AT THE BOTTOM, THERE WILL BE NO PANIC DROP ANYMORE
Macroeconomics & Budget
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The survey conducted on the newspaper’s web site, 73% of respondents named “Georgia’s weak economy” and “the government’s wrong economic policy” as main reasons for devaluation of national currency. In January, lari has lost already 6% of its value, while during last year, national currency has devaluated by 12.6%, the newspaper reports.
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| 2. |
BANKING SECTOR BRINGS TRIFLING SUM TO THE STATE BUDGET
Finances & Banking
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As the article says, volume of the state budgetary deductions, paid by banking sector within 5 years, amounted to 195.1 million lari, while its total net profit exceeded 1.4 billion. At that, the article reports that oil companies Wissol Petrol Georgia and SOCAR Georgia had paid in 2014 only taxes of over 200 million lari.
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| 3. |
GEORGIA HAS TO EXPECT FOREIGN INVESTMENTS OF 1.1B THIS YEAR
Macroeconomics & Budget
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Economists estimate that foreign direct investments will amount this year to 6.2% of GDP. Respectively, investments of $1.1 billion must enter Georgia, the newspaper says.
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