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DAILY NEWS July 12, 2018

NEW COMPOSITION OF THE GOVERNMENT IS DISCLOSED

At the news briefing today, Georgian Prime Minister presented new composition of the government. According to the small government concept, the renewed government is composed of 10 ministers and 1 state minister, he pointed. More...


PRIME MINISTER: ACCORDING TO OUR PROGRAM, ALL REFORMS WILL BE CONDUCTED IN 2018-2019

All reforms, which are already initiated by us, and those new reforms, which we will announce in autumn, will be implemented in 2018-2019, Georgia’s Prime Minister Mamuka Bakhtadze declared at the briefing today. Certainly, education reform is a special case and is a long-term, he noted. More...


NOMINEE MINISTER OF ECONOMY: EVEN DISTRIBUTION OF ECONOMIC OPPORTUNITIES IS THE ONLY APPROACH FOR INCREASE OF OUR POPULATION’S WELLBEING

“Our philosophy of economic development is based not only on economic growth, but also on even distribution of economy’s income among the population”, nominee Minister of Economy and Sustainable Development Giorgi Kobulia declared at the news briefing, held today in administration of the government. “We consider that such approach is the only, which will allow us to increase wellbeing of our population”, he pointed. More...


AGENCY OF INNOVATIONS AND TECHNOLOGIES: IN GLOBAL INNOVATION INDEX, GEORGIA’S RANKING IMPROVED BY 9 STEPS

In Global Innovation Index for 2018, Georgia occupies the 59th place, Georgian Agency of Innovations and Technologies reported, pointing that in comparison with the previous year, the country improved its ranking by 9 steps.

The Agency noted that in the region, Georgia occupies the 1st place. More...


AS OF JUNE, YIELD OF 10-YEAR BONDS OF GEORGIAN GOVERNMENT MADE UP 4.4%

Referring to Bloomberg, National Bank of Georgia reported that as of June, annual yield of 10-year bonds of Georgian government, placed on London Stock Exchange (LSE), made up 4.4% against of 3.8% in March (i.e. a quarter ago). In June 2017 (i.e. a year ago), this indicator made up 3.5%. More...


IN 2017, “GEORGIAN OIL AND GAS CORPORATION” PAID DIVIDENDS OF 27.13M LARI

JSC Georgian Oil and Gas Corporation (GOGC, fully owned by the state Partnership Fund) reported that it paid dividends of 27.13 million lari in 2017. This volume 2.15 times exceeds an indicator of 2016 (12.67 million lari). More...


TENDER ANNOUNCED ON CONSTRUCTION OF 9-KM TUNNEL ON KVESHETI-KOBI ROAD SECTION

Roads Department announced tender on construction of 9-km tunnel on the Kvesheti-Kobi section of Mtskheta-Stepantsminda-Lars road, leading to Russian border.

Construction of Kvesheti-Kobi road section is divided into 2 lots, the Department noted. More...


IN JUNE, PRICES OF SHARES OF “BOG HOLDINGS” AND “TBC BANK GROUP” DECREASED

Referring to Bloomberg, National Bank of Georgia reported that as of June, price per share of BOG Holdings amounted on London Stock Exchange to 19.5 GBP against of 23.7 GBP in March (i.e. a quarter ago). In June 2017, price per share of BOG Holdings made up 24.4 GBP. More...


ECONOMIC PRESS MONITOR July 12, 2018

Netgazeti.Ge: “DECLARATION OF BRUSSELS SUMMIT: GEORGIA WILL BECOME NATO MEMBER THROUGH MAP”

Declaration of Brussels summit of NATO, published on July 11, says in respect of Georgia that the country will become the Alliance member through MAP (membership action plan), Netgazeti.Ge reports.

NATO recognizes “the significant progress on reforms, which Georgia has made and must continue”. More...


Tabula: “ZHORZHOLIANI: ONLY THE SUM ABOVE 2,500 LARI SHOULD BE TAXED WITH 30%”

Gia Zhorzholiani, member of the Parliament’s majority, puts forward an initiative on taxation with 30% of salaries above 2,500 lari (monthly), Tabula reports. “This way, the budget will be able to mobilize additional 500 million lari”, he points. More...


Bankebi da Finansebi: ““NEW ROAD”’S INVESTMENT OF 10M IN OZURGETI – “THIS WILL FACILITATE ECONOMICAL ADVANCE IN THE MUNICIPALITY””

Residents of village Dvabzu of Ozurgeti municipality (Guria region) declare that construction of asphalt plant in the village “will cause ecological problems and will inflict essential damage to environment and population”.

In their turn, members of sakrebulo (local council) insist that creation of new jobs and employment of local residents should be welcomed, which will facilitate economical advance in the municipality. More...


SPECIAL REPORT July 12, 2018

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

- In June 2018, the hotel price index increased by 8.6% compared to May 2018;

- The 3-star, 4-star and 5-star hotel price index increased by 10.6% in June 2018 compared to May 2018;

- Among 3-star, 4-star and 5-star hotels the highest price increases were recorded in Adjara – 36% and Guria – 32.8%, in Tbilisi prices increased only by 0.4%;

- In June, the average cost of a room in a 3-star hotel was 143 GEL per night, 4-star hotel – 247 GEL, 5-star hotel – 403 GEL, guesthouses – 73 GEL.

AVERAGE HOTEL PRICES

In Georgia, the average cost of a room1 in a 3-star hotel was 143 GEL per night in June 2018. More...


Exchange Rates (NBG)
  07/13/18 + / -
  USD   2.4478   0.0077
  EUR   2.8458   0.0025
  RUR   3.9292   0.0001
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