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DAILY NEWS December 11, 2018

ISET FORECAST: GDP GROWTH THIS YEAR WILL MAKE UP 4.6%

According to the latest forecast of Policy Institute of International School of Economics at Tbilisi State University (ISET-PI), Georgia’s real GDP growth in the current year will make up 4.6%. Growth rate for the 4th quarter is expected at 3.7%. More...


ISET: IN Q4, BUSINESS CONFIDENCE INDEX WORSENED BY 5.5 POINTS

Business Confidence Index (BCI) in the 4th quarter made up 29.9 points that is by 5.5 points lower than an indicator of the previous quarter, Policy Institute of International School of Economics at Tbilisi State University (ISET-PI) declared.

ISET-PI indicated that “BCI drop is based on worsening of past performance and expectations in many business sectors”. More...


PRIME MINISTER: ONE-TIME ACT OF SOLIDARITY WILL GIVE OUR CITIZENS AN OPPORTUNITY TO RETURN TO FULL-FLEDGED ECONOMIC AND SOCIAL LIFE

The one-time act of solidarity will give an opportunity to our citizens to return to full-fledged economic and social life, Georgia’s Prime Minister Mamuka Bakhtadze declared, answering to online questions in Facebook Live.

Over 600,000 people will escape from the so-called problem (black) list and will meet New Year without this problem, the Premier stated, repeating that this initiative concerns citizens, who failed to pay loans by January 1 and principal sum of whose loans does not exceed 2,000 lari. More...


ACCORDING TO DATA, UPLOADED CURRENTLY ON THE WEBSITE VALI.GE, DEBTS SUBJECTED TO WRITE-OFF EXCEED 3B LARI

Georgian Finance Ministry reported that currently, 679,000 credit records of more than 407,000 borrowers are uploaded on the specially created web site Vali.Ge. As the Ministry noted, total volume of credit indebtedness “exceeds 3 billion lari”. More...


PRIME MINISTER PRESENTED STRATEGY OF MOUNTAIN REGIONS’ DEVELOPMENT

Today, Georgia’s Prime Minister Mamuka Bakhtadze presented in Tbilisi exhibition center ExpoGeorgia the strategy of mountain regions’ development in 2019-2023. He noted that strategy is prepared with assistance of the UN Development Program (UNDP). More...


WB RESEARCH: IN GEORGIA, INFRASTRUCTURE INDICATORS ARE STRONGER, THAN IN COUNTRIES OF EASTERN EUROPE AND CENTRAL ASIA

Referring to research of the World Bank (WB), Georgian Ministry of Economy and Sustainable Development reported that infrastructure indicators in Georgia are stronger, than in countries of Eastern Europe and Central Asia, but weaker, than in the EU states.

Presentation of the research “Critical Connections: Promoting Economic Growth and Resilience in Europe and Central Asia”, released by the WB in September, was held in Tbilisi yesterday. More...


RESEARCH IS CONDUCTED OF LABOR MARKET NEEDS IN TOURISM INDUSTRY

Georgian Ministry of Economy and Sustainable Development reported about research of labor market needs in the tourism industry, which presentation took place today. The research was prepared by request of the Ministry. More...


TBILISI CITY HALL: REHABILITATION OF KAKHETI HIGHWAY SECTION IS FINISHED

Rehabilitation of 7.3-km section of Kakheti Highway is finished, Tbilisi City Hall reported.

As the City Hall specified, Tbilisi budget allocated 8 million lari for rehabilitation, which was conducted by Geo Group. More...


ECONOMIC PRESS MONITOR December 11, 2018

Bankebi da Finansebi: “TENDERS AND SIMPLIFIED PROCUREMENTS – HIGH RISK OF CORRUPTION TRANSACTIONS WITH PUBLIC MONEY”

Giorgi Bajelidze, head of Center for Monitoring and Studying of Procurements, declares that in state procurements, “the key challenge is simplified procurements, i.e. purchases, which are conducted without tender”. “As a rule, they are characterized with quite high corruption risk”, he specifies. More...


Netgazeti.Ge: “WHO URGES GEORGIA TO RAISE PRICE ON TOBACCO PRODUCTS”

According to World Health Organization (WHO), because of diseases and decline in productivity, caused by consumption of tobacco, Georgia’s GDP annually loses 2.4% that makes up about 825 million lari.

Referring to research of the UN Development Program of 2017, WHO declares that “raise of tax on tobacco in Georgia will lower in 15-year prospect an indicator of smoking of tobacco by 27%”. More...


Tabula: “KADAGIDZE ON DEBTS’ WRITE-OFF: ALL ASPECTS OF “THE MAIN INITIATIVE” HAVE SHORTCOMINGS”

Giorgi Kadagidze, ex-president of National Bank of Georgia, indicates that within “the main initiative” on arrears’ write-offs for part of citizens, “process of negotiations, legal framework, announcement of the initiative, elementary arithmetic, economic effect and today even the technical implementation have shortcomings”.

Kadagidze posted the mentioned on his Facebook page and noted: “Unfortunately, this with accuracy of 100% reflects quality of our country’s governance “.


Rezonansi: “WHAT REALLY EXPECTS 600 THOUSAND PEOPLE AND IN WHAT CASE ZEROING OF DEBT IS CONSIDERED BRIBERY OF VOTER”

Strength is in Unity (united opposition) accuses Georgia’s president elect and ruling team of bribery of voters and appeals in this regard to court, the newspaper reports. The opposition regards that write-off of debt of 600,000 citizens to financial organizations is a bribery, the article specifies. More...


SPECIAL REPORT November 20, 2018

YOUR TAX DISPUTE INFOGUIDE

Your Tax Dispute InfoGuide is prepared by PricewaterhouseCoopers (PwC) Georgia, based on the decisions of the Georgian Revenue Service and the Dispute Settlement Authorities of the Ministry of Finance of Georgia. We will be offering a brief review of the factual circumstances of the select cases, including the results of the examination and the decision of the dispute. More...


Exchange Rates (NBG)
  12/11/18 + / -
  USD   2.6609   0.0061
  EUR   3.0286   0.0126
  RUR   4.0071   0.0072
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