Georgian English Russian Main Register Company Partners Feedback
Sarke Information Agency
Georgian/English/Russian Menu

Daily News
Economic Press Monitor
Special Report
 


DAILY NEWS January 22, 2019

NBG FORECAST: REAL GDP GROWTH IN THE NEXT 3 YEARS WILL BE WITHIN 5%

In the next 3 years, Georgia’s real GDP growth will be within 5% and unemployment will continue to decrease, National Bank of Georgia (NBG) said the basic macroeconomic forecast, published for purposes of International Financial Reporting Standard (IFRS 9).

According to the forecast, inflation in medium-term period will remain around the target of 3%, while real estate price, expressed in lari, will grow in proportion to inflation. More...


IN DECEMBER 2018, IMPORT PRICE INDEX INCREASED BY 2.9% Y-O-Y, EXPORT PRICE INDEX REDUCED BY 0.2%

Sakstat reported that in December 2018, Georgian import price index increased by 2.9%, if compared with the same month of 2017.

The index in manufacturing industry increased year-on-year by 2.7%. More...


IN DECEMBER 2018, PRODUCER PRICE INDEX IN FREIGHT TRANSPORTATION INCREASED BY 0.8% Y-O-Y

Sakstat reported that in December 2018, Georgian producer price index (PPI) in freight transportation increased by 0.8%, if compared with the same month of 2017.

That includes PPI growth by 1.6% in freight transportation by land transport. More...


IN DECEMBER 2018, PRODUCER PRICE INDEX FOR INDUSTRIAL PRODUCTION INCREASED BY 3.8% Y-O-Y

Sakstat reported that in December 2018, Georgian producer price index (PPI) for industrial production increased by 3.8%, if compared with the same month of 2017.

Main contribution to formation of the index was provided by price growth of 2.5% in manufacturing industry. More...


IN 2018, NET PROFIT OF GEORGIAN BANKS INCREASED BY 5.2%

National Bank of Georgia reported that net profit of Georgian commercial banks in 2018 amounted to 914.7 million lari. If compared with 2017, the volume has increased by 5.2%. More...


GEORGIAN PRIME MINISTER HOLDS MEETINGS WITHIN THE DAVOS FORUM

Today, within the World Economic Forum in Davos, Georgia’s Prime Minister Mamuka Bakhtadze held a meeting with Azerbaijani President Ilham Aliyev.

As Georgian government reported, the parties discussed strategic partnership of Georgia and Azerbaijan, joint transport and infrastructure projects of regional importance and prospects of economic relations deepening. More...


THE GOVERNMENT: SDG TRACKER SYSTEM WILL BE LAUNCHED THIS YEAR

Monitoring of more than 200 indicators of execution of the UN Sustainable Development Goals (SDGs) will became available after launch of SDG Tracker system in 2019, Georgian government declared.

SDG Tracker was presented at the 2nd annual meeting of national Council on SDG, which held in Tbilisi today. More...


FAO STARTS NEW PROJECT IN GEORGIA

The UN Food and Agriculture Organization (FAO) starts in Georgia a new project worth 2 million EUR, FAO representation in Georgia declared. The representation said that the project is financed by Austrian Development Cooperation (ADC, a program of Austrian government). More...


YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION: AT THIS STAGE, THERE IS NO REASON FOR RAISE OF TARIFFS IN COMMUNICATION SPHERE

Georgian Young Financiers and Businessmen Association declared that at this stage, “there is no reason” for raise of cost of packages of mobile service, fixed Internet access and IP television.

The statement, released by the Association, indicates that two rival companies (SilkNet and MagtiCom) “simultaneously announce growth of tariffs for similar service that leaves impression of coordinated action and cartel agreement”. More...


WITHIN “PRODUCE IN GEORGIA”, CEMENT PRODUCTS’ ENTERPRISE TO BE OPENED IN KHOBI

With assistance of “Produce in Georgia” state program, LLC Prime Beton will start manufacturing cement products in Khobi (Samegrelo region), investing $1.7 million in the enterprise, Georgian National Agency of State Property declared.

For this purpose, the Agency handed over land site of 16,686 square m with structures to the company. More...


ECONOMIC PRESS MONITOR January 22, 2019

Rezonansi: “EPIDEMIC OF SWINE FLU AND MEASLES INFLICTED DAMAGE OF 500M LARI TO THE COUNTRY”

Referring to own calculations, statistician Soso Archvadze indicates that if swine flu is detected in one of every 20 families, damage to Georgia’s economy, direct or indirect, will amount to sum from 300 to 500 million lari. I assume that in 4-member family, one person gets sick on average, he explains. More...


Rezonansi: “CREDIT INSTITUTIONS ALREADY JUMPED THROUGH NEW REGULATION”

As a result of regulation of financial sphere, enacted in Georgia in this January, use of online credits, along with other products, is complicated, the newspaper says.

However, the companies already found a way out and offer to consumers a service, bypassing regulation by means of leasing, the article says. More...


Tabula: “CITY HALL: WE WILL NOT ALLOW CONSTRUCTION OF 30-M HOTEL IN VAKE PARK”

Tbilisi City Hall declares that, despite existence of valid construction permit, they will not allow construction of 30-meter hotel Budapest in Vake Park, Tabula reports. The permit was issued in 2013. More...


Netgazeti.Ge: “TURNAVA: REGULATIONS, RELATED TO GAS SUPPLY, WILL BE TOUGHENED”

Natia Turnava, Georgia’s Deputy Minister of Economy and Sustainable Development, declared that regulation, related to gas supply to consumers, will be toughened, Netgazeti.Ge reports.

According to Turnava, revision of acting legal base is actively underway in direction of accurate definition and toughening of rights and obligations of all parties, participating in the process. More...


SPECIAL REPORT December 18, 2018

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

- In November 2018, compared to November 2017, in Georgia the hotel price index decreased by 0.1%;

- In November 2018, compared to November 2017, the daily rates for standard double hotel rooms decreased the most in Guria (-14.7%) and Kakheti (-13.6%);

- In November 2018, compared to November 2017, the hotel prices in Tbilisi decreased by 8.9%;

- In November 2018, the average cost of a room in each category was as follows: 3-star hotel room – 120 GEL per night; 4-star hotel room – 221 GEL; 5-star hotel room – 489 GEL; guesthouse room – 63 GEL;

- In November 2018, compared to October 2018, the hotel price index decreased by 11.2%.

AVERAGE HOTEL PRICES

In Georgia, the average cost of a room1 in a 3-star hotel was 120 GEL per night in November 2018. More...


Exchange Rates (NBG)
  01/22/19 + / -
  USD   2.6611   0.0002
  EUR   3.0233   0.0050
  RUR   3.9996   0.0078
Get News in Brief by E-Mail
Get daily News in Brief on your e-mail for free!
Announcements
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.

Sincerely,

Sarke Information Agency


© 2019 Sarke Information Agency