DOCUMENT ON DIAGONAL CUMULATION BETWEEN GEORGIA, EU AND TURKEY SUBMITTED FOR RATIFICATION TO THE PARLIAMENT
Georgian government has submitted to the Parliament for ratification a decision on amendments to Protocol II of free trade agreement between Turkey and Georgia. Deputy Minister of Economy and Sustainable Development Gennady Arveladze specified that these amendments envisage diagonal cumulation between Georgia, EU and Turkey, which apply to industrial production.
LAW ON “VINE AND WINE” TO BE RENEWED
The Parliament initiated draft amendments to law “On Vine and Wine”, being adopted in 1998.
Head of National Wine Agency Giorgi Samanishvili specified that neither policy nor direction will change, but the law will be updated in order to respond to new challenges.
RATIO OF HOUSEHOLDS’ DEBT TO GDP GREW IN 2016 BY 5 PP
National Bank of Georgia reported that by the end of 2016, ratio of households’ debt to GDP made up 32.2%. If compared with 2015, this ratio has increased by 5 percentage points (pp).
RATIO OF INSURANCE COMPANIES’ ASSETS TO GDP DECREASED IN 2016 BY 0.1 PP
National Bank of Georgia reported that by the end of 2016, ratio of insurance companies’ assets to GDP made up 1.5%. If compared with 2015, the showing has reduced by 0.1 percentage points (PP).
RATIOS OF DEPOSITS AND CREDITS TO GDP BOTH INCREASED DURING A YEAR
National Bank of Georgia reported that as of April 1, ratio of banking deposits to GDP made up 46.6%. If compared with the same period of 2016 (44.2%), the ratio has increased up by 2.4 percentage points.
IN JANUARY-MARCH, NET PROFIT OF BANKING SECTOR INCREASED 2.3 TIMES Y-O-Y
National Bank of Georgia reported that net profit of commercial banks totaled as of March 31 to 257.79 million lari. If compared with the same period of 2016, the volume has increased 2.3 times.
FROM START OF THE YEAR, BANKING BRANCHES DECREASED IN NUMBER BY 2, WHILE SERVICE-CENTERS – GREW BY 52
National Bank of Georgia reported that 17 commercial banks, operating in the country, have run 141 branches and 878 service-centers countrywide as of March 31.
If compared with the same period of 2016, number of branches has increased by 15, while in comparison with start of the year, it is reduced by 2.
WINEMAKERS DEMAND PROHIBITION OF UNBOTTLED WINE EXPORT
At the meeting of National Wine Agency and wineries, held yesterday in the Parliament’s Agrarian Committee, winemakers demanded to ban export of unbottled wine.
As press service of the Parliament reported, it was mentioned at the meeting that statistics shows quite moderate export of unbottled wine, being followed, however, with quite large volume of bottled wine produced in neighboring countries.