Daily News

IN THIS ISSUE:

In the updated report, published on January 8, the World Bank (WB) forecasts that Georgia’s economy will grow this year by 5%, while average growth rate for 2018-2021 will make up 5.1%, Georgian Ministry of Economy and Sustainable Development reported.

While commenting on the subject, Deputy Minister of Economy Ekaterina Mikabadze declared that such assessment of the WB “will positively affect investors’ mood, their desire to carry out commercial activity in the country”.

Georgian Finance Ministry reported that currently the country has agreements on double taxation avoidance and suppression of tax evasion signed with 55 states.

Of them, agreement with Moldova entered in force in 2018.

On January 15, technical regulations on construction products will enter in force, Georgian Ministry of Economy and Sustainable Development declared. As the Ministry reminded, the regulations apply to cement, fittings, electric cables, plastic pipes.

Reform of land registration is prolonged until July 1, Georgian National Agency of Public Register declared.

The reform, launched on August 1, 2016, had initially to come to the end by July 1, 2018, but was extended until January 1, 2019.

Georgian Economy and Sustainable Development Ministry’s Agency Produce in Georgia reported that it has attracted in 2018 investments pf $56 million.

At that, negotiations on projects, providing investments of $196 million, are at their final stages, the Agency pointed.

USAID-backed agricultural program started acceptance of applications within the partnership-based grant program, which aims assistance to development of value chain of baccate crops in Georgia. Applications have to be submitted through January 31.

As a result of participation in the Paris Fashion Week (September 27 – October 2, 2018), Georgian designers sold production of 380,000 EUR, Georgian Economy and Sustainable Development Ministry’s Agency Produce in Georgia reported. The Agency specified that the designers conducted export of 1,934 units of production (apparel).

Sakartvelos Banki (Bank of Georgia) declared that Bank of Georgia Group (BGEO Group) will be headed by Archil Gachechiladze. Respective decision was made by supervisory council of the bank.

Georgian Stock Exchange declared that total cost of OTC deals, concluded in the 4^th quarter of 2018 in the US dollars, totaled to $1.06 million. If compared with the same period of 2017, the volume has decreased 35 times.

Georgian Stock Exchange reported that total cost of stock-exchange deals, concluded in lari in the 4^th quarter of 2018, made up 24,139 lari. If compared with the same period of 2017, the volume has decreased 6.4 times.