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1. THE PARLIAMENT DISCUSSED SEPARATION OF BANKING SUPERVISION FROM NBG
   (Daily News: June 26, 2015)

   Today, fierce debates were held in the Parliament during consideration in the 1^st hearing of draft amendments, which envisage separation of banking supervision from National Bank of Georgia (NBG).

   According to the discussed draft, Agency of Financial Supervision should be created as legal entity of public law under NBG already in this July.

2. Netgazeti.Ge: “ADVISER OF THE PRESIDENT ACCUSES PARLIAMENTARY COMMITTEES IN VIOLATION OF ASSOCIATION AGREEMENT”
   (Economic Press Monitor: June 26, 2015)

   Giorgi Abashishvili, adviser of the President, points that “agenda of Association and then already resolution of Georgian government clearly establish that revision of legislation on National Bank of Georgia must be conducted with examination of European Union, including referring to experience of European Central Bank”.

   However, EU experts were not included in development of draft bill related to separation of banking supervision from National Bank of Georgia, Abashishvili notes.

3. COORDINATIVE MEETING OF DONORS CONSIDERED PROGRAM OF EAST-WEST HIGHWAY’S IMPROVEMENT
   (Daily News: June 25, 2015)

   Coordinative meeting of donors, which held today with participation of members of Georgian government, discussed program of improvement of a corridor of East-West highway (E60).

   As the Ministry of Economy and Sustainable Development reported, participants of the meeting considered results of feasibility study and cost analysis of rehabilitation of Rikoti and Argveti sections of the highway.

4. Netgazeti.Ge: “ONE OF OWNERS OF “BILETEBI.GE” IS DEPUTY DIRECTOR OF THE INTERIOR MINISTRY’S SERVICE AGENCY”
   (Economic Press Monitor: June 25, 2015)

   The newspaper reports that owner of 60% in online ticket’s shop biletebi.ge is David Mizandari, first deputy director of Service Agency of the Interior Ministry. Remaining share belongs to Giorgi Chkhikvishvili.

5. ECONOMY MINISTRY: LABORATORY OF INNOVATIONS WILL BE CREATED IN TRAINING CENTER “MZIURI”
   (Daily News: June 24, 2015)

   Ministry of Economy and Sustainable Development declared that laboratory of innovations, which will work on web programming, will be established at information technologies center Mziuri.

   Respective memorandum of cooperation between the center, Innovation and Technology Agency and the company Omedia was signed in Tbilisi today.

6. THE PRESIDENT STARTS CONSULTATIONS ON CANDIDACY OF NEXT HEAD OF NBG
   (Daily News: June 24, 2015)

   The President of Georgia Giorgi Margvelashvili begins consultations in order to select candidacy for post of president of National Bank of Georgia (NBG).

   The negotiations will be held with international financial institutions, non-governmental organizations, banking experts, business associations, banking sector, the Parliament, ministries of economic profile and NBG itself.

7. BUDGET OF TBILISI INCREASES BY 44.732M LARI
   (Daily News: June 22, 2015)

   Tbilisi Sakrebulo (city council) reported that the capital’s budget increases by 44.732 million lari and will make 912 million lari. The issue will be considered in Sakrebulo on June 23.

8. DEPUTY MINISTER OF FINANCE: COMPARATIVELY EXACT FIGURES ON DAMAGE CAUSED BY DISASTER OF JUNE 13 WILL BECOME KNOWN IN TWO WEEKS
   (Daily News: June 22, 2015)

   First Deputy Minister of finance Giorgi Tabuashvili declared that calculation of damage, caused by disaster in Tbilisi on June 13-14, proceeds and “comparatively exact figures will become known in two weeks”. He pointed at that that the damage, “possibly, would exceed 100 million lari”.

9. Tabula: “KADAGIDZE: IT IS CAMPAIGN OF ASSAULT ON NATIONAL BANK”
   (Economic Press Monitor: June 22, 2015)

   President of National Bank of Georgia (NBG) Giorgi Kadagidze names charges of NBG in regard of lari depreciation as “campaign of assault” and “attempt of discrediting” of NBG.

   “Certainly, it is extremely harmful to our country”, Kadagidze declared in air of Rustavi-2.

10. Tabula: “KADAGIDZE: INVESTIGATION ON CLOSED CASE OF “SAKHALKHO” “BANKI” WAS RE-LAUNCHED IN 2015”
    (Economic Press Monitor: June 22, 2015)

    President of National Bank of Georgia (NBG) Giorgi Kadagidze pointes that investigation on case of Sakhalkho Banki (People’s Bank) was begun in 2012 and was closed in 2014.

    “The prosecutor points that there were no violations in the case and describes a situation, because of which sale of the bank became necessary”, Kadagidze declared in live show of Rustavi-2 broadcasting company.

11. GEORGIAN-SLOVAK BUSINESS FORUM HELD IN BRATISLAVA
    (Daily News: June 19, 2015)

    Within visit of Georgia’s President Giorgi Margvelashvili to Slovakia, Georgian-Slovak business forum was held today in Bratislava.

    As press service of Georgian President reported, up to 30 Georgian companies took part in the event, representing such spheres of Georgia’s economy as agriculture, food industry, construction and pharmaceutics.

12. ECONOMY MINISTRY: OPENING OF GASTRONOMIC TASTING TOURIST CENTER IS PLANNED IN TBILISI
    (Daily News: June 18, 2015)

    Ministry of Economy and Sustainable Development declared that gastronomic tasting tourist center, similar to Spanish Mercado, might be opened in Tbilisi. Such center is located in historical part of Madrid, the Ministry noted.

13. PRESS SERVICE OF THE PRIME MINISTER: CONSUMER CREDITS OF DISASTER-AFFECTED POPULATION, PERHAPS, WILL BE WRITTEN OFF
    (Daily News: June 18, 2015)

    Press service of the Prime Minister said that consumer credits of population, affected by recent disaster in Tbilisi (flooding of June 13-14), perhaps, will be written off.

    This initiative of the banking sector was one of the main topics of today’s meeting between representatives of 7 commercial banks, business ombudsman Giorgi Gakharia and Tbilisi Vice-Mayor Dmitry Kumsishvili.

14. Bankebi da Finansebi: “BANKING SUPERVISION WILL BE SEPARATED FROM NATIONAL BANK BECAUSE OF GIORGI KADAGIDZE’S FACTOR”
    (Economic Press Monitor: June 18, 2015)

    Consideration of detachment of banking supervision from structure of National Bank of Georgia (NBG) and its establishment as independent Agency of Financial Supervision is postponed for a week though “it is just a matter of time”, the newspaper reports.

    According to respective draft bill, the mentioned amendments have to enter in force on July 1.

15. ECONOMY MINISTRY: “SCHULZE GLOBAL INVESTMENT” ESTABLISHES INVESTMENT FUND IN GEORGIA
    (Daily News: June 17, 2015)

    Ministry of Economy and Sustainable Development reported that the US company Schulze Global Investment plans investment in energy projects in Georgia, for what end establishes investment fund here. Through this fund, construction of small and medium hydroelectric stations will be financed.

16. MINISTER OF ECONOMY DISCUSSED FUTURE PROJECTS WITH DELEGATION OF GERMAN BUSINESS ASSOCIATION
    (Daily News: June 16, 2015)

    Ministry of Economy and Sustainable Development reported that the Minister Giorgi Kvirikashvili met today with delegation of Federation of German Industries. At the meeting, the sides discussed ways of economic cooperation deepening and projects, planned by German business in Georgia, the Ministry said.

17. PRIME MINISTER: DAMAGE, CAUSED BY DISASTER, MAY REACH 100M LARI
    (Daily News: June 16, 2015)

    Damage, inflicted by natural disaster in Tbilisi, may reach 100 million lari, Georgia’s Prime Minister Irakli Garibashvili declared at the meeting with victims of flood, accommodated at governmental rest house in Tskneti today.

    “Damage is quite solid, we actively work with donors and we hope that they will help us with overcoming of these problems”, Garibashvili said.

18. ECONOMY MINISTRY: DUE TO NATURAL DISASTER, TRANSITION TO DIGITAL BROADCASTING IS POSTPONED
    (Daily News: June 15, 2015)

    Ministry of Economy and Sustainable Development declared that transition to digital broadcasting will be postponed, so that new deadline, instead of June 17, is announced July 1.

    “Due to the current disastrous developments (flood in Tbilisi on June 13-14, which killed several people), we counted expedient not to create additional discomfort to our population, which got a huge stress as it is”, the Minister Giorgi Kvirikashvili declared at the news briefing today.

19. YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION: OFFICIAL INFLATION DOES NOT REFLECT REAL PICTURE OF GEORGIAN ECONOMY
    (Daily News: June 12, 2015)

    Giorgi Kapanadze, vice-president of Young Financiers and Businessmen Association, considers that official indicator of inflation does not reflect a real picture of Georgian economy.

    After inflation of 15% in May 2011, methodology of CPI calculation changed, increasing weight of average consumer’s expenses on luxury goods and decreasing one on food costs, Kapanadze declared.

20. Netgazeti.Ge: “ANTI-CRISIS PROGRAM OF “NATIONAL MOVEMENT” AND SAVED 1.4 BILLION LARI”
    (Economic Press Monitor: June 11, 2015)

    Anti-crisis plan, presented by United National Movement, envisages cancellation of profit tax and introduction of 15% tax on dividends instead. Income tax (20%) has to be lowered to 15% at that.

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