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Economic Press Monitor


October 12, 2017

IN THIS ISSUE:

1. ALONG WITH LOCAL, FOREIGN GAMBLING SITES WILL BE RESTRICTED TOO
2. NEXT YEAR, CIGARETTES NOT TO RISE IN PRICE
3. PENALTY FOR VIOLATION OF INVESTMENT CONDITIONS ON LAND, APPROVED FOR 1 LARI, MAKES UP 100 LARI
4. DEPOSIT INSURANCE SYSTEM WILL PROMOTE FINANCIAL STABILITY

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1. ALONG WITH LOCAL, FOREIGN GAMBLING SITES WILL BE RESTRICTED TOO
Economic & Politics

Georgian Finance Ministry says that after January 1, 2018, control of online casinos will be toughened. In particular, casinos will be obliged to allow to gamble only those users, who are registered by Revenue Service.

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2. NEXT YEAR, CIGARETTES NOT TO RISE IN PRICE
Macroeconomics & Budget

If revenues from excise tax were planned in 2017 at 1.63 billion lari, plan for 2018 makes up 1.45 million lari. Next year, growth of excise tax rate is not envisaged, the newspaper concludes.

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3. PENALTY FOR VIOLATION OF INVESTMENT CONDITIONS ON LAND, APPROVED FOR 1 LARI, MAKES UP 100 LARI
Companies

The richest citizen of Georgia, ex-premier Bidzina Ivanishvili has legalized for 1 lari the land site of 1,900 square m in the very center of Tbilisi, Tabula says. In exchange, Ivanishvili’s company Tbilisi City has to invest 1 million lari in arrangement of parking for 30 places at least.

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4. DEPOSIT INSURANCE SYSTEM WILL PROMOTE FINANCIAL STABILITY
Finances & Banking

Deposit insurance system has to start operation after January 1, 2018. By the government decree, Deposit Insurance Agency is created, which will be headed by Otar Dzidzikashvili, former chief of Pension Reform Service.

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  10/18/17 + / -
  USD   2.4844   0.0005
  EUR   2.9204   0.0019
  RUR   4.3347   0.0029
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