Daily News

IN THIS ISSUE:

Georgia has improved its rating by three positions according to Global Competitiveness Report of World Economic Forum for 2014-2015. Namely, the country with 4.22 points moved up to the 69^th place (among 144 countries) from the last year’s 72^nd place (4.15 points) among 148 countries.

Sakstat reported that total turnover of enterprises reached 11.08 billion lari in the 2^nd quarter. If compared with the same period of 2013, the volume has increased by 12.49%, while if compared with the 1^st quarter, it increased by 10.81%.

Sakstat reported that in total turnover of enterprises for the 2^nd quarter (11.08 billion lari), 52.63% (5.83 billion lari) accounted for trade and repair of vehicles, household goods and articles of personal use. Turnover in this sector has increased by 12.69% year-on-year and by 10.61% – quarter-on quarter.

Sakstat reported that out of total turnover of Georgian enterprises in the 2^nd quarter (11.08 billion lari), Tbilisi accounts for 72.17% (i.e. 8 billion lari). If compared with the same period of 2013, this volume has increased by 12.78%, while if compared with the 1^st quarter – by 9.32%.

Sakstat reported that out of the total turnover of enterprises in the 2^nd quarter (11.08 billion lari), limited liability companies (LLCs) accounted for 82% (9.09 billion lari). If compared with same period of 2013, turnover of LLCs has increased by 14.43%, while if compared with the 1^st quarter – by 13.15%.

According to Sakstat, inflation in August made up 3.4%, if compared to the same period in 2013.

The most significant impact on annual inflation had an increase of prices on food and non-alcohol beverages by 6.4%.

The World Bank will allocate a preferential loan of $60 million to Georgia in order to improve stability of southwestern part of the country’s power transmission network.

The respective agreement was signed today between Georgia’s Finance Minister Nodar Khaduri and World Bank regional director in South Caucasus Henry Kerali.

China is going to invest $20-25 million in agricultural sector of Georgian region Samegrelo – Zemo Svaneti. As Georgian Agriculture Ministry reported, respective memorandum of cooperation was signed today, during visit of Georgian delegation to China.

“While natural climatic conditions have already reduced harvest volume and quality, attempts to hamper and break down vintage has taken form of sabotage, causing thus a doubt whether this process is managed artificially”, National Wine Agency declares.

The Agency has issued a statement today, saying that “The information about decrease of grape price is spread, causing discontent and protests of vine growers”.

“Credit, taken by Tbilisi government, will be used for capital projects, but it cannot be excluded that it will not be required at all”, Tbilisi Mayor David Narmania has declared after today’s meeting of the capital’s government.

Narmania explained that borrowing would happen in case if there will be budget deficit by the end of the year, while so far, the government of Tbilisi has applied only for opening of credit line.