Daily News

IN THIS ISSUE:

According to preliminary data of National Bank of Georgia, national currency in circulation has reached 2.42 billion lari by the end of June. If compared with the same period of 2014, the volume has increased by 9.6%.

National Bank of Georgia reported that volume of overdue credits amounted as of July 1 to 320.649 million lari. The volume has increased by 29.8% year-on-year, but decreased by 1.5% quarter-on-quarter.

The President Giorgi Margvelashvili has vetoed amendments to law "On National Bank of Georgia". Legislative package, envisaging separation of banking supervision from National Bank of Georgia (NBG), the Parliament has approved on July 17.

Georgian Reforms Association released today long list of remarks (20 points) in connection with amendments, which separate banking supervision from National Bank of Georgia (NBG) (these amendments, adopted recently by the Parliament, were vetoed today by the President).

The organization points in particular that the mentioned amendments do not correspond to constitutional principle, breaking and weakening NBG’s discretion to use its power, determined by the Constitution, to carry out monetary policy independently.

According to information, provided by national bureau of Interpol, General Secretariat of Interpol did not make positive decision on announcement of international hunt on ex-president Mikheil Saakashvili, Main Prosecutor's Office of Georgia reported.

International hunt, announced with red circular on David Kezerashvili (former head of Financial Police and ex-minister of defense), is cancelled also.

Today, meeting with delegation of Japan International Cooperation Agency (JICA) was held, being organized by Georgian Agency of Entrepreneurship Development, Ministry of Economy and Sustainable Development reported.

As the Ministry noted, the meeting aimed consideration of results of the 1^st stage of regional development program, which is jointly implemented by the Agency and JICA.

Policy Institute of International School of Economy at Tbilisi State University (ISET) declared that since July, it has started calculation of retail food price index (FPI).

The project is implemented in cooperation with such retail chains, as Carrefour, Goodwill, Fresco and SPAR.

Within project on improvement of regional electricity transmission, Georgian State Electric System started construction of substation Khorga (220/110 KV) in Khobi municipality of Samegrelo region. The works are planned to complete in the first half of 2016.

National Energy and Water Supply Regulating Commission reported about launch of public administrative proceeding on tariff application of JSC TELASI (Tbilisi energy distributor). Decision on the proceeding was made at the Commission’s meeting today.

Press service of Ajara government declared that hotel complex Grand Hotel Batumi Black Sea will be put in operation in 2016.

The press service noted that 60 million lari is already invested in the project, while volume of investments will increase to 100 million lari by the time of opening of the complex.