Daily News

IN THIS ISSUE:

According to Sakstat’s estimation, real GDP growth in January in comparison with same month of 2014 was 0.5%.

In turn, GDP growth in 2014 made up 4.7%, Sakstat said.

President of National Bank of Georgia (NBG) Giorgi Kadagidze responded today to accusations, expressed recently by ex-premier Bidzina Ivanishvili and government members, and said that NBG doesn’t plan to spend reserves it order to strengthen lari exchange rate.

As Kadagidze stated, devaluation is caused by fundamental economic reasons and spending reserves will be inadequate decision in this situation.

 This year, Tbilisi will host sitting of Georgia-Romania economic commission and business forum. This decision was made during today’s visit of Georgian delegation to Romania.

Georgia’s Finance Minister Nodar Khaduri met today with group of the US investors, which arrived to Georgia with acquainting visit, being organized by Trans-National Research Corporation.

Finance Ministry reported that the sides discussed economic situation in the region and Georgia and those regional infrastructure projects, which will promote Georgia’s transit function.

Set up of anti-hail weapon emplacements in all municipalities of Kakheti region is underway within anti-hail system’s creation by state military research technical center Delta.

Delta says that number of these emplacements, which are integral part of single anti-hail system, will make up 83 throughout the region.

Roads Department reported that rehabilitation of 9-km section of 73.5-km road Akhmeta-Telavi-Bakurtsikhe in Kakheti region is finished. The project of 5.44 million lari was funded from the state budget.

According to decree of the Prime Minister, 400 farming sets and 53 hand seeders will be handed over through direct sale to 155 agricultural cooperatives.

Cost of 1 farming set makes up 900 lari, while of 1 seeder – 1 lari.

Today, TBC Bank announced about change of crediting terms, being caused by devaluation of lari. The changes affected both current and new borrowers.

TBC Bank reported that its profit from small and medium business segment amounted in 2014 to 39.2 million lari, accounting thus for 24.8% of total profit.

As of December 31, 2014, deposits of this segment, placed in TBC Bank, totaled to 507.8 million lari, increasing year-on-year by 36%.

TBC Bank reported that its profit from microfinance segment amounted in 2014 to 7.2 million lari, accounting to 4.6% of total profit.

As of December 31, 2014, deposits, placed by this segment in TBC Bank, totaled to 4.9 million lari, increasing by 9.5% year-on-year.

By decree of the Prime Minister, state-owned non-agricultural land sites with total area of 3,343 square m in Borjomi, together with buildings and railway of 417 m, will be handed over to Georgian branch of offshore-registered Dizon Limited through direct sale for symbolic price of 1 lari.

According to privatization terms, the company has to build on this territory at least 40-room hotel within 3 years after the order’s issuance.