FORECAST OF THE PARLIAMENT’S BUDGETARY OFFICE: IN Q4, RATE OF REAL GDP GROWTH WILL MAKE UP 5%
Budgetary Office of Georgian Parliament estimates that rate of real GDP growth in the 4th quarter will make up 5%.
To compare, in the same period of 2017, growth rate made up 5.3%.
AS OF SEPTEMBER 30, CREDITS, EXCLUDING EXCHANGE RATE EFFECT, INCREASED BY 19% Y-O-Y
National Bank of Georgia reported that total volume of credits, issued as of September 30, amounted to 24.8 billion lari, increasing (without consideration of exchange rate effect) by 19% year-on-year.
If exchange rate effect is taken into account, year-on-year growth of credits made up 22.7%, while real growth (i.e. excluding inflation also) – 19.9%.
AS OF OCTOBER 1, CREDITING OF NATIONAL ECONOMY INCREASED BY 24% Y-O-Y
National Bank of Georgia reported that credits, issued by Georgian commercial banks to various spheres of national economy as of October 1 (both in national and foreign currencies), totaled to 11.08 billion lari.
That volume has increased by 10% quarter-on-quarter and by 24% year-on-year.
DEPUTY ECONOMY MINISTER POINTS AT POSSIBILITY OF BIOMASS PROCESSING IN GEORGIA
Georgian Deputy Minister of Economy and Sustainable Development Natia Turnava indicated that wooden waste, so-called biomass, is effectively processed in Lithuania in thermal energy.
According to Turnava, “we can use this alternative technology for biomass processing in various villages, where installation of gas is complicated because of relief or other reasons”.
NEW SYSTEM OF WATER SUPPLY AND SEWERAGE IN MARNEULI AND BOLNISI IS PLANNED TO FINISH IN MARCH 2021
Works on arrangement of new system of water supply and sewerage in Marneuli and Bolnisi (municipal centers of Kvemo Kartli region) will start in the 1st quarter of next year, Georgian Ministry of Regional Development and Infrastructure declared. The project is planned to finish in March 2021.
TBILISI CITY HALL: ARRANGEMENT OF DRAINAGE SYSTEM STARTED IN DIGOMI VILLAGE
In Digomi village, located within administrative boundaries of Tbilisi, the 1st stage of works on arrangement of drainage system is started. Cost of this stage makes up to 3 million lari.
ECONOMY MINISTRY: SWISS “KUEHNE+NAGEL” CONSIDERS POSSIBILITY OF ENTRY ON GEORGIAN MARKET
Swiss transport and logistic company Kuehne+Nagel considers possibility of entry on Georgian market in the second half of 2019, Georgian Ministry of Economy and Sustainable Development declared.
Today, the Ministry hosted the meeting with the representatives of the company, who arrived to Georgia with a weeklong visit.
PARTNERSHIP FUND: GEORGIAN CORN OIL “KARVA” WILL APPEAR ON LOCAL MARKET IN THE NEXT YEAR
Georgian Partnership Fund declared that starting from the next year, Georgian corn oil Karva (Amber) will appear on the local market.
The Fund said that within its joint project with company Karva Kolkhuri, corn-processing plant was built in Khobi (Samegrelo region), which will produce oil and compound feeds.
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