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Daily News


October 12, 2017

IN THIS ISSUE:

1. DEPUTY SECRETARY-GENERAL OF THE EUROPEAN EXTERNAL SERVICE: THE EU VALUES ROLE OF GEORGIA AS AN IMPORTANT PARTNER IN PROMOTING SECURITY
2. AS OF SEPTEMBER 30, GEORGIA’S PUBLIC FOREIGN DEBT INCREASED BY 12.2% Y-O-Y
3. AS OF SEPTEMBER 30, GEORGIA’S PUBLIC DOMESTIC DEBT INCREASED BY 20.3% Y-O-Y
4. FINANCE MINISTER: CONSUMPTION OF TOBACCO IN GEORGIA DECREASED BY 25%, WHILE THE BUDGET REVENUES FROM TOBACCO EXCISE INCREASED BY 150%
5. PACKAGE OF DRAFT BILLS “ON PUBLIC-PRIVATE PARTNERSHIP” IS CONSIDERED IN THE PARLIAMENT
6. AS OF JUNE 30, PROFIT OF “BASISBANK” INCREASED BY 11.6% Y-O-Y
7. AS OF JUNE 30, PROFIT OF “TERABANK” MADE UP 7.93M LARI
8. AS OF JUNE 30, PROFIT OF “HALYK BANK GEORGIA” INCREASED BY 175.6% Y-O-Y
9. AGRICULTURE MINISTRY: NEW MILK PROCESSING ENTERPRISE CREATED WITHIN “UNIFIED AGROPROJECT”
10. STONE-WORKING ENTERPRISE WILL BE CREATED NEAR TKIBULI WITHIN “PRODUCE IN GEORGIA” PROGRAM

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1. DEPUTY SECRETARY-GENERAL OF THE EUROPEAN EXTERNAL SERVICE: THE EU VALUES ROLE OF GEORGIA AS AN IMPORTANT PARTNER IN PROMOTING SECURITY
Politics

“The EU values the role of Georgia as an important partner in promoting security”, Deputy Secretary-General of the European External Service Jean-Christophe Belliard declared. “It is in our strategic interest to further strengthen the resilience of Georgian democracy”, he pointed.

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2. AS OF SEPTEMBER 30, GEORGIA’S PUBLIC FOREIGN DEBT INCREASED BY 12.2% Y-O-Y
Economics

The Finance Ministry reported that as of June 30, public foreign debt of Georgia has exceeded $5 billion. If compared with the same period of 2016, the volume has increased by 12.2%.

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3. AS OF SEPTEMBER 30, GEORGIA’S PUBLIC DOMESTIC DEBT INCREASED BY 20.3% Y-O-Y
Economics

The Finance Ministry reported that as of June 30, public domestic debt (account balance) amounted as of September 30 to 2.81 billion lari (so-called historical debt is not envisaged). If compared with the same period of 2016, the volume has increased by 20.3%.

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4. FINANCE MINISTER: CONSUMPTION OF TOBACCO IN GEORGIA DECREASED BY 25%, WHILE THE BUDGET REVENUES FROM TOBACCO EXCISE INCREASED BY 150%
Economics

Georgia’s Finance Minister Dimitri Kumsishvili said that rate of excise on tobacco products was increased in Georgia 5 times for the last 4 years.

As a result, official statistics show that tobacco consumption in Georgia decreased by 25%, while the budget’s revenues from tobacco excise increased by 150%, the Minister said.

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5. PACKAGE OF DRAFT BILLS “ON PUBLIC-PRIVATE PARTNERSHIP” IS CONSIDERED IN THE PARLIAMENT
Politics

Package of draft bills “On Public-Private Partnership”, initiated by the government, is under consideration in the Parliament. The government explains drafting of the package by Georgia’s obligations to IMF on creation of modern legislative and institutional framework of public-private partnership (PPP).

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6. AS OF JUNE 30, PROFIT OF “BASISBANK” INCREASED BY 11.6% Y-O-Y
Business

Basisbank reported net profit of 14.25 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 11.6%.

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7. AS OF JUNE 30, PROFIT OF “TERABANK” MADE UP 7.93M LARI
Business

Terabank reported net profit of 7.93 million lari as of June 30. In the same period of 2016, the bank had loss of 14.23 million lari.

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8. AS OF JUNE 30, PROFIT OF “HALYK BANK GEORGIA” INCREASED BY 175.6% Y-O-Y
Business

Halyk Bank Georgia reported net profit of 7.17 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 175.6%.

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9. AGRICULTURE MINISTRY: NEW MILK PROCESSING ENTERPRISE CREATED WITHIN “UNIFIED AGROPROJECT”
Business

Within “Unified Agroproject”, new milk processing enterprise, LLC Teleti Cheese House, is created in Kvemo Kartli region, the Agriculture Ministry reported. Investments in the project amounted to $366,010, including the state co-financing of $146,404.

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10. STONE-WORKING ENTERPRISE WILL BE CREATED NEAR TKIBULI WITHIN “PRODUCE IN GEORGIA” PROGRAM
Business

Ministry of Economy and Sustainable Development declared that within “Produce in Georgia” state program, stone-working enterprise will be created in Gelati village (Tkibuli municipality of Imereti region).

LLC Gazko will invest 353,200 lari in the project, the Ministry said, adding that the enterprise will employ local residents.

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