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DAILY NEWS April 23, 2018

IN GEORGIA’S EXPORT FOR JANUARY-MARCH, 27.5% WAS SHARE OF COPPER ORE AND FERROALLOYS

Sakstat released estimation for the 1st quarter, according to which Georgia’s export of copper ore and concentrates for January-March made up $118.77 million (16% of total export of the country, the 1st position). If compared with the same period of 2017, the volume has increased by 20.7%. More...


IN GEORGIA’S IMPORT FOR JANUARY-MARCH, 15% WAS SHARE OF OIL-PRODUCTS AND GAS

Sakstat released estimation for the 1st quarter, according to which Georgia’s oil-products made up $186.88 million (9% of total import of the country). If compared with the same period of 2017, the volume has increased by 53.3%. More...


FINANCE MINISTER: IN SUMMER, WE EXPECT THAT THE WB WILL INCREASE FINANCING FOR GEORGIA

“After completion of certain formal procedures, we expect in the summer that, with a high probability, the World Bank [WB] and its organizations will increase financing for Georgia”, Finance Minister Mamuka Bakhtadze declared.

Issues of the WB-Georgia cooperation were discussed at the meeting of Bakhtadze with executive director of the WB Frank Heemskerk, which took place on April 21 in Washington, DC. More...


AGRARIAN COMMITTEE CHAIRMAN: BECAUSE OF CONDITIONS OF MORATORIUM ON LAND OWNERSHIP BY FOREIGNERS, CERTAIN PROBLEMS ARISEN CONCERNING THE BANKING SECTOR

Chairman of the Parliament’s Committee on Agrarian Issues Otar Danelia admitted that “certain problems arisen concerning the banking sector” because of conditions of the moratorium on land ownership by foreigners. “There are problematic credits of about 200 million lari, which, one may say, have been clogged because of the moratorium”, he pointed. More...


WINEGROWING COOPERATIVES INVITED TO JOIN THE STATE PROGRAM

Agency on Assistance to Agricultural Cooperatives announced registration of participants of the state program on assistance to winegrowing cooperatives. Registration is possible on the web page of the Agency through May 11. More...


FINANCE MINISTER: NEW INVESTMENTS FROM SWITZERLAND ARE PLANNED IN GEORGIA

Georgia’s Finance Minister Mamuka Bakhtadze declared that new investments from Switzerland are planned in Georgia.

“Two leading Swiss companies plan to make in Georgia foreign direct investments” in the sector of production of chocolate, the Minister said. More...


THE 17TH TBILISI FASHION WEEK WAS HELD

Tbilisi hosted the 17th Fashion Week on April 19-22, which program included up to 20 events. Displays of autumn-winter collections of 2018, showrooms and other events were held on the territory of Tbilisi Balneological Resort. More...


“SILKNET” AND “GEOCELL” OFFER THEIR SUBSCRIBERS UNLIMITED CALLS IN “GEOCELL” NETWORK DURING 3 MONTHS

Within acquisition of mobile operator Geocell be SilkNet, these companies offer their subscribers unlimited calls in network of Geocell during 3 months (until July 23). The only condition is positive balance of account of the subscriber. More...


ECONOMIC PRESS MONITOR April 24, 2018

Forbes Georgia: “DIFFERENT VIEW”

While commenting on future plans in an interview to the magazine, founder and executive director of Alliance Group Holding Ayet Kukava declares: “We want to hold the largest financial and leasing conference “Leaseurope” in Georgia”. “Such [conference] was not held not only in Georgia, but even in Eastern Europe”, he notes. More...


Forbes Georgia: “HOW MUCH “SHADOWY” GEORGIA’S ECONOMY IS – ANSWER OF THE IMF”

Head of the IMF mission Mercedes Vera-Martin estimates that by data of 2015, share of “shadow economy” in Georgian GDP makes up about 10%. However, this does not include share of informal economy, she notes. More...


Rezonansi: “THE TIME OF USURERS CAME TOO – NATIONAL BANK WORKS ON THEIR REGULATION”

National Bank of Georgia (NBG) prepares for steps on introduction of regulation for private usurers, the newspaper writes. However, NBG itself declares that they do not know yet, how could be turned this market in framework of regulations. More...


Rezonansi: “FRENCH COMPANY “ORANGE GROUP” MIGHT ACQUIRE “SILKNET””

Ucha Seturidze, executive director of Association of Small and Medium Telecom Operators, declares that there is assumption that French Orange Group plans acquisition of SilkNet.

Seturi points in confirmation to plans of cooperation between SilkNet and Sofrecom (subsidiary of Orange Group). More...


SPECIAL REPORT April 16, 2018

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

- The 3-star, 4-star and 5-star hotel price index increased by 9% in March 2018, compared to February 2018;

- In March 2018, the daily rates for 3-star, 4-star and 5-star standard double hotel rooms increased significantly in Tbilisi (15.5%), while the daily rates decreased the most in Mtskheta-Mtianeti (-10.6%);

- During the last five months (November 2017 – March 2018), in terms of regions, the most expensive 3-star and 4-star hotels were in Mtskheta-Mtianeti;

- In March 2018, 292,017 tourists visited Georgia, which is 64% more compared to February.

AVERAGE HOTEL PRICES

The average cost1 of a room in a 3-star hotel in Georgia was GEL 132 per night in March 2018. More...


Exchange Rates (NBG)
  04/23/18 + / -
  USD   2.4488   0.0086
  EUR   2.9944   0.0073
  RUR   3.9406   0.0323
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