Daily News February 7, 2019	Days:  05 06 07 08 11

economics

NBG: IN Q4 OF 2018, NOMINAL EXCHANGE RATE OF LARI AGAINST DOLLAR DECREASED BY 5.7% Q-O-Q

National Bank of Georgia (NBG) reported that in the 4^th quarter of 2018, nominal exchange rate of lari concerning the US dollar depreciated by 5.7% quarter-on-quarter. For the same period, lari against euro depreciated by 3.8%.




NBG: REPRESENTATIVES OF BANKING SECTOR EXPECT DECLINE OF DEMAND ON RETAIL CREDITS

Referring to results of research of credit conditions, National Bank of Georgia (NBG) reported that representatives of Georgian banking sector expect decline of demand on retail credits in the 1^st quarter. They connect their expectations with measures, conducted by NBG, and expect also insignificant decrease of demand on business loans.




NBG: REPRESENTATIVES OF BANKING SECTOR EXPECT TOUGHENING OF NON-INTEREST TERMS IN RETAIL CREDITING

Referring to results of research of credit conditions, National Bank of Georgia (NBG) reported that representatives of Georgian banking sector expect toughening of non-interest terms in retail crediting in the 1^st quarter. They connect this with imposed ban on credit issuance without analysis of borrower’s solvency and establishment of coefficients of credit servicing.




NEW CODE OF EXECUTION IS PREPARED

During the spring session, Georgian Parliament plans consideration of new Code of Execution.

Explanatory note, enclosed to the document, states that the draft aims correction of those shortcomings, which currently acting law “On Executive Proceeding” has.




LEGAL FRAMEWORK OF MEDIATION TO BE DEFINED

During the spring session, Georgian Parliament plans consideration of draft bill “On Mediation”.

Explanatory note, enclosed to the document, states that mediators “assist citizens and representatives of business to settle civil disputes quickly, effectively and by mutual agreement, without long and expensive trial”.




CONSIDERATION OF NEW FOREST CODE IS PLANNED DURING SPRING SESSION

During the spring session, Georgian Parliament plans consideration of new Forest Code.

Explanatory note, enclosed to the document, states that need of development of the new code is conditioned by wrong practice and imperfection of currently acting legislation.

business

PARTNERSHIP FUND: PLANT OF COMPOSITE AVIAPARTS SOLD FIRST PRODUCTION TO “BOEING”

Georgian Partnership Fund declared that plant on production of composite parts for planes (Aerostructure Technologies Cyclone, ATC – joint project of the Fund and Israeli Elbit Cyclone, worth $93 million) signed the first document on production selling. The first production, manufactured in Georgia, is made for Boeing, the Fund said.




CLAY-PROCESSING PLANT TO BE BUILT IN PEREVI

Georgian Agency of Subsoil declared that clay-processing plant will be built in village Perevi (Sachkhere municipality of Imereti region).

According to the Agency, 10-year license for operation of the field of ceramic clay was sold at electronic auction for 121,626 lari.