Economic Press Monitor
December 7, 2017
IN THIS ISSUE:
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| 1. |
ABOUT PENSION AND PENSION REFORM
Economic & Politics
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The article lists three main reasons, caused need of pension reform. First of all, average life expectancy of the population grew, decreasing ratio between employed and pensioners, author of the article notes and specifies that in Georgia, this ratio is below 1 already for a long time.
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| 2. |
THE GOVERNMENT CUTS PEOPLE AND INCREASES SALARIES
Macroeconomics & Budget
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According to the draft budget, administrative costs in part of remuneration and commodity service increase in 2018 by 77 million lari, the newspaper reports. Just a few days ago, the ministers promised to conduct optimization of expenses, while make absolutely opposite steps, the article says.
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IMF: THE GOVERNMENT OF GEORGIA HAS TO RESTRICT GROWTH OF OFFICIALS’ SALARIES
Macroeconomics & Budget
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IMF considers that “economic situation in Georgia improved, but risks are still exist”. “Despite positive results, the authority has to keep caution and continue reforms, which are directed on eradication of growth-hampering structural problems”, IMF said in its statement.
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| 4. |
INTERIOR MINISTRY: FIRE ON “GUMATHES-2”, CAUSED BY EXPLOSION, IS LOCALIZED
Energy, Oil & Gas
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Interior Ministry declares that fire, caused by explosion on territory of GumatHES-2 on December 6, is liquidated. According to preliminary information, about 18 t of fuel is spilled as a result of explosion, while oil transformer was hit by fire.
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