Daily News

IN THIS ISSUE:

Bruno Balvanera, regional director of EBRD for the Caucasus, Moldova and Belarus, declared that EBRD plans investment of about 400 million EUR in Georgia this year. Target areas for the investments are hydro energy, banking sector, municipal infrastructure and private sector, he said.

Administration of the government reported about sitting of the Economic Council today, where tourism dynamics and macroeconomic parameters have been considered.

Macroeconomic parameters were presented by vice-presidents of National Bank of Georgia Archil Mestvirishvili and Otar Nadaraia.

2015 year was important challenge for larization process, annual report of National Bank of Georgia (NBG) states.

Devaluation of lari towards the US dollar substantially hampered growth of larization rate, observed in the past years, especially in case of deposits, NBG points.

The Parliament’s Committee on Regional Policy and Self-Governance has considered today the government’s legal initiative, which aims to curb growth of municipalities’ administrative costs.

The amendments, being considered in second reading, were presented at the Committee sitting by Tengiz Shergelashvili, Deputy Minister of Regional Development and Infrastructure.

Georgia’s National Communication Commission announced intention to bring administration of country code Top Level Domains (ccTLD, in case of Georgia – “.ge/.გე”) in compliance with international standards. For that end, the Commission has published recently offers, defining consultation period by 6 weeks (until June 8).

Regional Development and Infrastructure Ministry reported about works, being underway in order to arrange so-called “evacuation point” on 136^th km of Mtskheta-Stepantsminda-Larsi road, leading to Russian border. The works, which were started in June 2015, are planned to complete in 2016.

Tbilisi City Hall declared that rise of K2 coefficient for residential houses will be restricted until development of general plan of land use in Tbilisi.

Draft amendments to regulation on territory usage and development in Tbilisi will be submitted to the City Council for approval today, the City Hall noted.

Tbilisi City Hall reported that City Service of Healthcare and Social Services provided administration of 31 programs in the 1^st quarter. For that end, the budget has allocated 30 million lari, the City Hall said.

Insurance industry in Georgia is in its development phase and many categories of insurance, available across the world, have not been accessible in the country so far, National Bank of Georgia (NBG) stated in its annual report.

As a result, NBG does not have full insurance of own transactions’ termination or liabilities to the third party, as well as insurance of environmental damage, inflicted due to mistakes in course of the banks’ operations, the report pointed.

Next Mercedes-Benz Fashion Week (May 5-9) is taking place in Tbilisi, in Zurab Tsereteli Modern Art Museum. The event is backed by Economic and Sustainable Development Ministry’s Agency for Entrepreneurship Development.