Economic Press Monitor
October 19, 2021
IN THIS ISSUE:
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| 1. |
ARCHIL MESTVIRISHVILI: WE WOULD TIGHTEN MONETARY POLICY EVEN MORE
Macroeconomics & Budget
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Archil Mestvirishvili, vice-president of National Bank of Georgia (NBG), said that “the biggest challenge for our country in terms of monetary policy and in general, is high inflation”, which is “mainly caused by external factors”. “If aggregated demand in previous periods was aimed at reduction of inflation, already in 2021, as we have increased economic activity, the aggregate demand no longer reduces the existing inflation”, Mestvirishvili pointed.
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| 2. |
89 HA IN THE SEA FOR 1 LARI – CONTRACT DETAILS
Construction
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Georgian government handed over 89 ha of sea area in Batumi to LLC Batumi Ambassador Island with the 65-year right of development at a symbolic price of 1 lari, the newspaper reports. The project envisages creation of two artificial peninsulas and one artificial island with the relevant infrastructure.
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WITH THE SUPPORT OF “SAKARTVELOS BANKI”, “GMC” COMPANY EXPANDS ACTIVITY
Companies
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In partnership with Sakartvelos Banki (Bank of Georgia), company GMC starts production of building structures. Total cost of the project makes up 5.8 million lari, including 4.06 million lari, allocated by the bank, the magazine reports.
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| 4. |
IN THE GLOBAL PASSPORT INDEX, GEORGIA RANKS 34TH AMONG 199 COUNTRIES
Economic & Politics
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Georgia ranks 34th among 199 countries in The Henley Passport Index, the magazine reports. As the article notes, Georgia has the “strongest” passport in the South Caucasus region.
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