Economic Press Monitor
November 12, 2019
IN THIS ISSUE:
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| 1. |
WHAT SHOULD WE EXPECT FROM THE TOUGHENED MONETARY POLICY?
Macroeconomics & Budget
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Monetary policy rate of National Bank of Georgia (NBG) makes up 8.5% now, being at the highest mark for the last 11 years. Reason of the rate increase became inflation, which was caused to some extent by devaluation of lari against the US dollar, the article reminds.
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| 2. |
PUTIN’S SANCTIONS AND INCREASED TOURISM FROM THE EUROPEAN UNION – WHAT IS GOING ON IN TOURISM SECTOR
Tourism
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In 2016-2018, Georgia was visited by 3.4 million Russian citizens, however since July of this year (when Russia prohibited direct air communication with Georgia), number of Russian visitors decreases by 12.5% on average, Tabula reports. In turn, Georgia was visited this year by 441,271 citizens of the EU countries, whose number has increased year-on-year by 25%.
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| 3. |
NAME OF KUTAISI TECHNOLOGICAL UNIVERSITY IS OFFICIALLY CHANGED
Economic & Politics
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Kutaisi Technological University will be named Kutaisi International University and will be engaged mainly in scientific research, Netgazeti.Ge reports. As the article indicates, the university will be financed from the central budget, but will be able also to gain income from students, other organizations, etc.
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GEORGIAN STARTUP “INFLUENCE.GE” WILL RECEIVE FINANCING OF 1,300,000 LARI
Companies
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Innovative Georgian startup Influence.Ge will receive financing of 1.3 million lari, the newspaper reports. The article indicates that corresponding transaction was signed by Global Startup Fund, which is founded in partnership of Silicon Valley Tbilisi and Israeli Silicon Wadi.
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