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DAILY NEWS September 21, 2018

WITHIN VISIT TO THE US, GEORGIAN PREMIER MET MANAGEMENT OF WB AND IMF AND THE US SECRETARY OF STATE

Reform of Georgian education system and role of the World Bank (WB) in the course of transformation of Georgia were the main subjects of consideration at the meeting of Georgia’s Prime Minister Mamuka Bakhtadze and the WB Group president Jim Yong Kim, held in Washington DC today, press service of Georgian Premier reported.

At the meeting with the IMF managing director Christine Lagarde, the Premier discussed issues of Georgia’s economic growth and macroeconomic stability, the press service said. More...


GEORGIAN ECONOMY MINISTER MET EUROPEAN COMMISSIONER FOR TRANSPORT

Georgian Ministry of Economy and Sustainable Development reported about meeting with the European Commissioner for Transport Violeta Bulc, which the Minister Giorgi Kobulia held yesterday within his visit to Brussels.

As the Ministry noted, the parties discussed directions of the transport sphere development, including issues of road safety and modernization of the railroad. More...


CHIEF OF OFFICE OF THE PARLIAMENT: ANNUALLY, UP TO 2.5M LARI IS SPENT IN MAINTENANCE OF THE PARLIAMENT PALACE IN KUTAISI

Chief of office of the Parliament Givi Mikanadze declared that maintenance of the Parliament palace in Kutaisi costs annually up to 2.5 million lari.

Mikanadze specified that “the sum includes various components and in order the Parliament to operate in Kutaisi during the sessional period and the building to be in the functional state, the sum of the mentioned volume is annually spent from the budget of the Parliament”. More...


NBG: GUIDELINES FOR STEADY FINANCING WILL BE DEVELOPED

National Bank of Georgia (NBG) declared about development of guidelines for steady financing, which is planned to do in cooperation with the international organizations.

Besides, NBG said that development plans include also principles for financial institutions of information disclosure and reporting, related to environmental, social and governance (ESG) issues. More...


NEW RULES OF SECURITIES REGISTER’S MAINTENANCE APPROVED

President of National Bank of Georgia (NBG) approved new rules of securities register’s maintenance.

As NBG said, all not-materialized securities have to be included in securities register in line with these rules. More...


ISET-PI: BUSINESS CONFIDENCE INDEX WORSENED

Policy Institute of International School of Economics at Tbilisi State University (ISET-PI) declared that after improvement during three previous quarters, Business Confidence Index (BCI) in the 3rd quarter has worsened. Namely, BCI decreased quarter-on-quarter by 4.2 percentage points, to 35.4 points. More...


TBILISI HOSTS WORLD FORUM ON DIGITAL MINING

Today, world forum on digital mining opened in Tbilisi, being organized by Bitmain Technologies together with BitCan, Georgian Ministry of Economy and Sustainable Development reported. According to the Ministry, up to 1,000 people take part in the 3-day event. More...


ACCEPTING OF BUSINESS PLANS TO START WITHIN “PRODUCE IN GEORGIA” STATE PROGRAM’S COMPONENT OF MICRO AND SMALL BUSINESS

Within component of micro and small business of “Produce in Georgia” state program, accepting of business plans will begin on September 24 and will last through October 5.

While declaring this, Economy and Sustainable Development Ministry’s Agency Produce in Georgia noted that out of 17,392 submitted applications, 2,523 ones had passed to the next stage. More...


“SEED THE FUTURE” PROJECT ENHANCED WITH BERRY CROPS

“Seed the Future” project’s component of garden co-financing was enhanced with the new subcomponent – berry crops, Georgian Ministry of Environmental Protection and Agriculture reported.

As the Ministry noted, the new subcomponent envisages full funding of cost of saplings in several regions, in case of both acquisition on the local market and import. More...


LLC “TIRIFONI GARDENS” INVESTED 4.7M LARI IN PLANTING INTENSIVE GARDENS IN GORI MUNICIPALITY

LLC Tirifoni Gardens invested 4.7 million lari in planting intensive gardens in Gori municipality (Shida Kartli region), Georgian Ministry of Environmental Protection and Agriculture reported. This year, the company will rip the first harvest, the Ministry noted. More...


ECONOMIC PRESS MONITOR September 21, 2018

Rezonansi: “IVANISHVILI STAYED IN CHKHARTISHVILI’S HOUSE FOR 5 HOURS: I SPOKE WITH BIDZINA ABOUT FOLKLORE”

The newspaper reports that Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream) stayed in the house of businessman Vano Chkhartishvili for about 5 hours.

Chkhartishvili claims that he spoke with Ivanishvili about folklore only and did not discuss the recently publicized hidden record, where he distributes shares in cigarette business on behalf of Ivanishvili, the newspaper says. More...


Rezonansi: “LAW ON TOBACCO CAUSE A QUARREL BETWEEN MAJORITY MPS”

The Parliament considers legislative amendments, which release casinos form ban on tobacco smoking in public space.

However, Gambling Business Association considers that the law should mention not only casino, but also place of arrangement of hazardous/advantageous games (except incentive draws) in general. More...


Bankebi da Finansebi: “YACHT-CLUB TO BE BUILT IN BATUMI”

Ajara Minister of Finance and Economy Jaba Putkaradze declared that the autonomy government “has certain initiatives concerning cruise companies”.

“We think to create a regional hub, where international companies will have a certain support and other benefits, if they open regional offices and representations in Ajara”, Putkaradze explained. More...


SPECIAL REPORT August 10, 2018

AVERAGE HOTEL PRICES IN GEORGIA AND HOTEL PRICE INDEX (JULY 2018)

- In July 2018, the hotel price index increased by 2.7% compared to June 2018;

- In July 2018, the daily rates for standard double hotel rooms increased the most in Adjara (10.1%) and Samtskhe-Javakheti (5.9%), while the hotel prices decreased only in Tbilisi (-1.2%);

- In July, the average cost of a room in each category was as follows: 3-star hotel room – 148 GEL per night; 4-star hotel room – 254 GEL; 5-star hotel room – 455 GEL; guesthouse room – 72 GEL;

- In Tbilisi, the 3-star, 4-star and 5-star hotel prices decreased by 2.1% in July 2018, compared to June 2018;

- On TripAdvisor, 1618 accommodation units are registered in Tbilisi, significantly exceeding the number of accommodation units registered in Baku – 456, Yerevan – 436 and Ankara – 364.

AVERAGE HOTEL PRICES

In Georgia, the average cost of a room1 in a 3-star hotel was 148 GEL per night in July 2018. More...


Exchange Rates (NBG)
  09/21/18 + / -
  USD   2.6216   0.0023
  EUR   3.0854   0.0161
  RUR   3.9340   0.0198
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