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DAILY NEWS March 22, 2019

IN 2018, REAL GDP GROWTH MADE UP 4.7%

Sakstat released estimation, according to which Georgia’s real GDP growth in 2018 made up 4.7%, while percentage change of deflator was 3.6%.

To compare, Sakstat’s February estimation said that real GDP growth in 2018 made up 4.8%. More...


FORECAST OF ISET-PI: GDP GROWTH IN Q1 WILL BE 4.3%, IN Q2 – 4.6%

Policy Institute of International School of Economics at Tbilisi State University (ISET-PI) released updated forecast, according to which Georgia’s GDP growth in the 1st quarter will make up 4.3%, while increase in the 2nd quarter to 4.6%.

“Based on January’s data, we expect annual growth in 2019 to be 4.4% in the worst-case or “no growth” scenario”, the Institute said, pointing that growth will be “5.5% in the best-case or “average long-term growth” scenario”. More...


PRIME MINISTER: STATEMENT THAT THERE IS CATASTROPHIC SITUATION IN THE COUNTRY IN TERMS OF CRIME GROWTH IS NOT TRUE

Georgia’s Prime Minister Mamuka Bakhtadze declared that opposition’s claim that “there is catastrophic situation in the country in terms of crime growth is not true”.

The Premier admitted that “growth of crime rate by 54%” was fixed in 2018, in comparison with 2017, however, attributed it to “accounting accuracy”. More...


MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: TERMS OF “ANAKLIA DEVELOPMENT CONSORTIUM” ARE INSUFFICIENTLY REAL

Georgia’s Minister of Regional Development and Infrastructure Maya Tskitishvili indicated that Anaklia Development Consortium planned launch of main works in Anaklia port on April 2.

However, detailed design is prepared so far by 60% only, no financing is attracted and, proceeding from this, “these terms, unfortunately, are insufficiently real”, the Minister pointed. More...


MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: DEMANDS OF INTERNATIONAL FINANCIAL INSTITUTIONS IN CONNECTION WITH ANAKLIA PORT ARE UNACCEPTABLE

Georgia’s Minister of Regional Development and Infrastructure Maya Tskitishvili declared that international financial institutions consider that the project of Anaklia port “lacks strategic investor, which will be able to attract permanent freights and, proceeding from this, they consider that it would be better, if securing of these risks will be undertaken by the state”.

The Minister declared this, while speaking in format of minister’s hour in the Parliament on March 21, and noted that after the government declared that guarantee on freights is unacceptable, banks (from which Anaklia Development Consortium, implementing the project, plans to attract funds) demanded to create the reserve account. More...


“HYUNDAI” TO SUPPLY CRANES FOR ANAKLIA PORT

Korean Hyundai Samho Heavy Industries became supplier of cranes for Anaklia port. Respective contract between Anaklia Development Consortium and the company was signed on March 21. More...


MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: THE SECOND STAGE OF RURAL SUPPORTING PROGRAM WILL LAST UNTIL APRIL 1

The second stage of rural supporting program will last until April 1, Georgian Ministry of Regional Development and Infrastructure reported.

As the Ministry said, sakrebulos (local self-governments) have already considered and approved for this stage 3,038 projects for 1,985 villages, which total to 25.6 million lari. More...


PUBLIC CONSIDERATION OF “KHELEDULAHES” PROJECT POSTPONED

Georgian Ministry of Economy and Sustainable Development declared about postponement of public consideration of KheledulaHES project.

As Deputy Minister Natia Turnava said, “we refrained from opposition” and “decided to postpone public consideration”. More...


ECONOMIC PRESS MONITOR March 22, 2019

Bankebi da Finansebi: “ON CAMPUS TERRITORY, CONSTRUCTION OF NEW PROJECT IS PLANNED”

On the territory of old campus in Tbilisi area Vake, construction of multipurpose complex is planned, the newspaper reports.

The article points that the developer, LLC Development on Chavchavadze, has submitted for the moment a request for approval of planning specification of development plan. More...


Bankebi da Finansebi: “OUR PLANS EXCEED LIMITS OF THE PORT CONSTRUCTION ONLY AND PARTNERSHIP WITH THE SOUTH KOREAN COMPANY AIMS SHIP BUILDING”

Our future partnership with Hyundai Samho Heavy Industries will be directed to ship building, one of founders of Georgia’s largest TBC Bank Mamuka Khazaradze declared to journalists. Georgia has to have own fleet, he pointed. More...


Netgazeti.Ge: “STATEMENT OF THE MINISTER ON “SSA MARINE” IS ESTIMATED IN THE “CONSORTIUM” AS DISCREDIT OF PARTNERS”

Georgia’s Minister of Regional Development and Infrastructure Maya Tskitishvili declared that Anaklia Development Consortium “tries “to sell” to the public that its partner is allegedly SSA Marine”.

However, instead of SSA Marine, we have “5 employees of the company, entering into the same group, who, along with other employees, are responsible only for technical operation of the port”, Tskitishvili specified. More...


Netgazeti.Ge: “FROM 226 OBJECTS, ONLY ONE MET STANDARD OF FIRE SAFETY – AUDIT”

Georgian State Audit Service reported that out of 226 objects, checked in the first half of 2018, violations of requirements of fire safety were not revealed in only one. At that, 100% of recommendations, issued in previous years, were implemented only in 14% of objects. More...


SPECIAL REPORT March 14, 2019

INEQUALITY IN EDUCATION

Human capital development is increasingly seen as the biggest driver of economic growth and the most powerful tool in the fight against poverty (World Bank, 2018). This idea is embodied in the World Bank’s new initiative – Human Capital Project, which is designed to stimulate more and better investment in human capital. More...


Exchange Rates (NBG)
  03/22/19 + / -
  USD   2.6821   0.0028
  EUR   3.0327   0.0188
  RUR   4.1751   0.0280
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Dear readers,

Wish you happy New Year! Let happiness, peace and prosperity be with you and your beloved ones in 2019!

We are leaving for New Year holidays and will resume operation on January 8. Until that, the site will not be updated.

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