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DAILY NEWS November 22, 2017

THE GOVERNMENT EXPECTS GDP GROWTH ABOVE 4.5% THIS YEAR

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, forecast economic growth for this year at 4.5%. “However, it is expected that the final indicator will be higher”, the document notes. More...


REVENUES OF THE STATE BUDGET-2017 INCREASE BY 206.7M LARI

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, set estimation of revenues at 9.7 billion lari, which by 206.7 million lari exceed originally approved plan.

Tax revenues are expected at 8.98 billion lari, increasing in comparison with the initial plan by 160 million lari. More...


ASSIGNATIONS OF THE STATE BUDGET FOR THIS YEAR INCREASE BY 305M LARI

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, envisage growth of allocations by 305 million lari and will make 11.72 billion lari. In particular, allocations increase to 9 spending departments, including 8 ministries. More...


ALLOCATIONS OF ECONOMY MINISTRY INCREASE BY 106M LARI

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, envisage allocations to the Ministry of Economy and Sustainable Development in amount of 476.5 million lari.

In comparison with initially approved plan, allocation are increased by 106 million lari. More...


ALLOCATIONS OF ENERGY MINISTRY INCREASE BY 65M LARI

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, envisage allocations to the Energy Ministry in amount of 197.3 million lari.

In comparison with initially approved plan, allocation are increased by 65 million lari. More...


ALLOCATIONS OF AGRICULTURE MINISTRY INCREASE BY 65M LARI

Draft amendments to the state budget-2017, submitted by the government to the Parliament today, envisage allocations to the Agriculture Ministry in amount of 323 million lari. In comparison with the initially approved plan, allocation are increased by 65 million lari. More...


EX-PRESIDENT OF NATIONAL BANK: EXECUTION OF INCREASED BUDGET EXPENDITURE UNTIL END OF THE YEAR IS IMPOSSIBLE

Ex-president of National Bank of Georgia, MP from oppositional National Movement Roman Gotsiridze notes, the government submitted to the Parliament draft amendments to the state budget-2017, which increase expenditure by 305 million lari.

“Mastering of this sum in a month and a half, remained until end of the year, is impossible”, Gotsiridze stated on his Facebook page. More...


JUSTICE MINISTRY: WITHIN REFORM OF LAND REGISTRATION, OVER 307,000 CITIZENS REGISTERED LAND OWNERSHIP

Today, Justice Minister Thea Tsulukiani reported on course of reform of land registration. According to the Minister, “between August 1, 2016 and now, over 307,000 citizens registered property right on land without barriers”. More...


CIVIL ORGANIZATIONS URGE TO ADOPT BILL “ON CONSUMER PROTECTION”

According to the Center for Strategic Research and Development, civil organizations urge the Parliament to end “the dragged-out process of work” on the bill “On Consumer Protection” and to accept this document.

The Center notes that the Parliament’s Committee on European Integration has started work on the bill as far back as 2013, but has managed to initiate it only in 2015. More...


GEORGIAN COMPANIES PARTICIPATE IN “CASPIAN – BLACK SEA FORUM 2017”

Ministry of Economy and Sustainable Development reported that Georgian delegation took part in “Caspian – Black Sea Forum 2017”, which held today in Bucharest. The forum was organized by Chamber of Commerce and Industry of Romania. More...


ECONOMIC PRESS MONITOR November 22, 2017

Tabula: “THE GOVERNMENT EXPECTED TOBACCO CONSUMPTION’S REDUCTION BY 8%, WHILE REDUCTION MADE UP 15%”

In January-August of last year, 5.8 billion cigarettes were sold, while in January-August of this year – 4.9 billion, i.e. year-on-year reduction made up 15.5%, Tabula reports.

The government raised in 2017 an excise tax by 52% and expected that sales of tobacco will be reduced by 8%. More...


Bankebi da Finansebi: “IN CASE OF OBLIGATORY INSURANCE EXISTENCE THE MARKET SIZE WILL GROW BY 50%”

In interview to the newspaper, deputy director general of TBC Insurance David Kiguradze points at considerable growth of insurance sector in Georgia during the last several years, generally in direction of medical insurance.

“Essential difference between Georgia and other developing countries in respect of insurance products’ penetration is conditioned by lack of practice of obligatory insurance in the country”, Kiguradze considers. More...


Forbes Georgia: “GROWN IN GEORGIA – IMERETI GREEN BUSINESS”

Greens and vegetables producer company Herbia, which employs 50 people, currently produces annually 500 t of 15 names of production and occupies 95% of packed greens segment, the magazine reports.

As the article notes, the company, which was founded in 2006, accomplished construction of hothouse in 2008, while in 2013 – became the leader in packed greens segment. More...


Netgazeti.Ge: “KALADZE: WE WILL TAKE CONCRETE STEPS FOR SETTLEMENT OF LANDFILL PROBLEM IN LILO”

Tbilisi Mayor Kakha Kaladze declares that the City Hall will start working on arrangement of landfill in settlement Lilo. “Lilo landfill is in very bad condition and represents serious problem for the people living there”, he points. More...


SPECIAL REPORT November 15, 2017

TAX & LAW BRIEF

DRAFT LAW ON PUBLIC PRIVATE PARTNERSHIPS

The draft law on Public Private Partnerships was initiated in the Parliament of Georgia and is pending discussion on 1st hearing. The draft law provides for the following key regulations:

- The draft law provides for public private partnership on the basis of concession or non-concession agreements. More...


Exchange Rates (NBG)
  11/22/17 + / -
  USD   2.7137   0.0077
  EUR   3.1897   0.0131
  RUR   4.6071   0.0539
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