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Daily News


May 15, 2019

IN THIS ISSUE:

1. NBG: IN Q1, NOMINAL EXCHANGE RATE OF LARI STRENGTHENED AGAINST THE US DOLLAR AND EURO
2. NBG: IN Q4 OF 2018, LABOR PRODUCTIVITY INCREASED IN AGRICULTURE, WHILE DECREASED IN INDUSTRIAL SPHERES AND SERVICE
3. MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: WITHIN AGROINSURANCE PROGRAM, LOSS OF 35.3M LARI IS INDEMNIFIED
4. GEORGIAN GOVERNMENT: GEORGIA AND KAZAKHSTAN WILL OFFER JOINT LOGISTIC PROJECTS TO INTERNATIONAL COMPANIES
5. PRIME MINISTER: OUR GOAL IS THAT BY 2022, AVERAGE SALARY OF TEACHERS IN GEORGIA WAS IN THE RANGE OF 1,500-1,800 LARI
6. PROSPECTS OF 5G MOBILE INTERNET DISCUSSED IN TBILISI
7. OFFICE OF BUSINESS OMBUDSMAN DEEPENS COOPERATION WITH FRANCE-GEORGIA CHAMBER OF COMMERCE AND GEORGIA-SWITZERLAND BUSINESS ASSOCIATION
8. “RRESTATE” TO ERECT 17-STOREY HOTEL IN TBILISI

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1. NBG: IN Q1, NOMINAL EXCHANGE RATE OF LARI STRENGTHENED AGAINST THE US DOLLAR AND EURO
Economics

In the 1st quarter, nominal exchange rate of lari against the US dollar has strengthened quarter-on-quarter by 0.3%, while against euro – by 0.7%, National Bank of Georgia (NBG) reported.

NBG noted that lari has depreciated slightly against Russian ruble and Turkish lira – by respective 0.4% and 2.2%.

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2. NBG: IN Q4 OF 2018, LABOR PRODUCTIVITY INCREASED IN AGRICULTURE, WHILE DECREASED IN INDUSTRIAL SPHERES AND SERVICE
Economics

In the 4th quarter of 2018, real added value per occupied (labor productivity) in Georgian economy has increased by 3.8%, if compared with the same period of 2017, National Bank of Georgia (NBG) reported.

NBG attributed growth of labor productivity with situation in agriculture, where the mentioned indicator has increased by 18.6%.

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3. MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: WITHIN AGROINSURANCE PROGRAM, LOSS OF 35.3M LARI IS INDEMNIFIED
Economics

Georgian Ministry of Environmental Protection and Agriculture reported that loss, indemnified within the state program of agroinsurance since 2014, totals to 35.3 million lari. Out of total reimbursement, state subsidy made up 33.85 million lari, the Ministry noted.

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4. GEORGIAN GOVERNMENT: GEORGIA AND KAZAKHSTAN WILL OFFER JOINT LOGISTIC PROJECTS TO INTERNATIONAL COMPANIES
Politics

Georgia and Kazakhstan will offer joint logistic projects to international companies, Georgian government declared.

While summing up today results of his visit to Kazakhstan, Georgia’s Prime Minister Mamuka Bakhtadze said that “we made important decisions in this direction today”.

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5. PRIME MINISTER: OUR GOAL IS THAT BY 2022, AVERAGE SALARY OF TEACHERS IN GEORGIA WAS IN THE RANGE OF 1,500-1,800 LARI
Economics

Our purpose is that by 2020, average salary of teachers in Georgia was in the range of 1,500-1,800 lari a month, Georgia’s Prime Minister Mamuka Bakhtadze declared.

As the Premier pointed, he feels that this is “very big tragedy that average salary of our teachers is below even of average salary in Georgia”.

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6. PROSPECTS OF 5G MOBILE INTERNET DISCUSSED IN TBILISI
Economics

Georgian National Communication Commission reported about 2-day conference with participation of communication regulating authorities of Eastern Partnership countries (EaPeReg) and the EU (BEREC), which took place in Tbilisi. As the Commission pointed, chairs of the regulating commissions of 19 countries gathered in Georgia for the first time.

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7. OFFICE OF BUSINESS OMBUDSMAN DEEPENS COOPERATION WITH FRANCE-GEORGIA CHAMBER OF COMMERCE AND GEORGIA-SWITZERLAND BUSINESS ASSOCIATION
Politics

Office of Georgian business ombudsman reported that memorandums of cooperation with France-Georgia Chamber of Commerce and Industry and Georgia-Switzerland Business Association were signed in Tbilisi today.

As the Office said, the memorandums aim further deepening of relations and assistance to activity in Georgia of member companies of the mentioned associations.

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8. “RRESTATE” TO ERECT 17-STOREY HOTEL IN TBILISI
Business

Company RRestate will build the 17-storey 164-room hotel Tbilisi Waterfall in Tbilisi area Ortachala.

As founder of the company Revaz Turmanidze said, idea of the project was induced by experience in the UAE.

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Exchange Rates (NBG)
  07/19/19 + / -
  USD   2.8845   0.0131
  EUR   3.2410   0.0219
  RUR   4.5787   0.0179
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