Daily News

IN THIS ISSUE:

Prime Minister Giorgi Kvirikashvili held a special news briefing today, where he made statement about resignation. Respectively, powers of the government are interrupted.

Agenda of the Parliament’s plenary session this week includes issue of amendment of organic law “On Economic Freedom”. The document is planned to consider in first reading.

National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to leave monetary policy rate without change. Respectively, the rate still makes up 7.25%.

National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to decrease minimum reserve requirements on funds, attracted in national currency, from 7% to 5%.

The Committee made such decision with aim of encouragement of attraction of financial resources in lari, NBG said.

Non-governmental organization Society and Banks considers that decline of tendency of banking loan portfolio’s growth is expected in short-term period, being connected with recently adopted regulation (restriction of crediting of clients with unconfirmed income).

While commenting on today’s decision of National Bank of Georgia (maintenance of refinancing rate at the level of 7.2% and lowering of minimum reserve requirements on funds, attracted in national currency, from 7% to 5%), the organization says that it will enhance availability of lari resource.

National Bank of Georgia (NBG) reported about visit of president of the National Bank of Ukraine Yakiv Smoly.

Main objective of the Ukrainian delegation’s visit is acquaintance with the reforms, undertaken by NBG.

Takehiko Nakao, president of Asian Development Bank (ADB), arrived today to Georgia with official visit, which will last until June 16.

This is first ever visit of ADB president to Georgia, Georgian Finance Ministry indicated.

“The Welfare Monitoring Survey 2017” of UNICEF indicates that in 2017, in comparison with 2015, the level of use of banks and pawnshops in Georgia’s bottom quintile of households (i.e. 20%, having smallest income) significantly increased.

Within the survey, which is conducted once in 2 years, 1,534 households named 1,629 credits of various types, including banking and pawnshop ones – 80.3%, lending of relatives/friends – 6.1% and loans of microfinancial organizations – 8.7%.

“The Welfare Monitoring Survey 2017” of UNICEF indicates that in 2017, share of healthcare and social assistance in Georgian state budget’s expenditure had decreased in comparison with previous year.

Namely, according to the survey, share of healthcare costs in total expenditure decreased by 0.6 percentage points (pp), while of social assistance – by 1 pp.

In Georgia, share of population, eligible to universal healthcare program, makes up 82%, but 11% is not aware about existence of this program, “The Welfare Monitoring Survey 2017” of UNICEF indicates.

To remind, Georgian government launched the mentioned program in 2013.

Today, Saudi national lowcoster Flynas has conducted its first flight from Riyadh to Tbilisi. At the end of the day, the airline made also the first Jeddah-Tbilisi flight.