Daily News April 24, 2018	Days:  20 23 24 25 26

politics

AGRARIAN COMMITTEE CHAIRMAN: DRAFT BILL “ON LAND OF AGRICULTURAL PURPOSE” WILL BE INITIATED UNTIL END OF THE MONTH

Chairman of the Parliament’s Agrarian Committee Otar Danelia said that initiation of the draft of organic law “On Land of Agricultural Purpose” will be held until end of the month. Final approval is planned after entry in force of the Constitution (amended version), as such procedure is envisaged by current legislation, he noted.




BUSINESS OMBUDSMAN PLANS MEETINGS WITH BUSINESS SECTOR IN REGIONS

With assistance of Georgian Chamber of Commerce and Industry, business ombudsman will hold informational meetings with business sector in regions, office of the ombudsman reported.

The office indicated that this is one of the directions, envisaged by memorandum on cooperation between the business ombudsman and the Chamber.

economics

NBG PRESIDENT: STRENGTHENING OF DOLLAR COULD HAVE AMBIGUOUS EFFECT FOR DEVELOPING COUNTRIES WITH HIGH DOLLARIZATION

President of National Bank of Georgia (NBG) Koba Gvenetadze pointed that exit of central banks of developed countries and especially of the US Federal Reserve “from the softened monetary policy is transferred by various channels to developing countries that could have ambiguous effect for economies with high dollarization”.

“On the one hand, strengthening of the US dollar increases competitiveness of these countries and positively affects balances of their trade and current accounts”, Gvenetadze specified, adding however: “On the other hand, because of high dollarization, strengthening of dollar increases cost of debt servicing in these countries that negatively affects aggregated demand”.




IN JANUARY-MARCH, PROFIT OF COMMERCIAL BANKS DECREASED BY 9.1% Y-O-Y

National Bank of Georgia reported that net profit of commercial banks for January-March amounted to 234.24 million lari. If compared with the same period of 2017, the volume has decreased by 9.1%.




DAMAGE CAUSED IN Q1 TO ENVIRONMENT EXCEEDED 1.26M LARI

Damage, caused in the 1^st quarter to environment, exceeded 1.26 million lari, Ministry of Environmental Protection and Agriculture reported.

The Ministry pointed that fine, imposed on violators (both individuals and entities) by court decision, totaled to 923,910 lari.




CONSTRUCTION OF THE 2^ND SECTION OF KOBULETI BYPASS ROAD IS ON THE FINAL STAGE

Construction of the 2^nd section of Kobuleti bypass road is on the final stage, Roads Department declared. Within the 2^nd lot, the section of 18 km has been built.




EXHIBITION “GEORGIA – CRADLE OF WINE” WILL TAKE PLACE IN JAPAN

Georgian National Wine Agency declared that exhibition “Georgia – Cradle of Wine”, adapted to local exhibition spaces, will take place this year in Japan.

The Agency said that issue of the exhibition was discussed at the meeting in Tokyo with representatives of exhibition space Terrada Warehouse and the Tokyo National Museum.

business

IN Q1, “GOLDEN CROWN” WAS IN THE LEAD AGAIN IN TERMS OF REMITTANCES BOTH TO AND FROM GEORGIA

National Bank of Georgia reported that out of total remittances to Georgia for the 1^st quarter ($354.97 million), Golden Crown has served 22.4%. By means of this system, remittances of $79.56 million were made to Georgia, increasing year-on-year by 14.1%.