Economic Press Monitor
November 22, 2017
IN THIS ISSUE:
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| 1. |
THE GOVERNMENT EXPECTED TOBACCO CONSUMPTION’S REDUCTION BY 8%, WHILE REDUCTION MADE UP 15%
Macroeconomics & Budget
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In January-August of last year, 5.8 billion cigarettes were sold, while in January-August of this year – 4.9 billion, i.e. year-on-year reduction made up 15.5%, Tabula reports. The government raised in 2017 an excise tax by 52% and expected that sales of tobacco will be reduced by 8%.
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| 2. |
IN CASE OF OBLIGATORY INSURANCE EXISTENCE THE MARKET SIZE WILL GROW BY 50%
Companies
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In interview to the newspaper, deputy director general of TBC Insurance David Kiguradze points at considerable growth of insurance sector in Georgia during the last several years, generally in direction of medical insurance. “Essential difference between Georgia and other developing countries in respect of insurance products’ penetration is conditioned by lack of practice of obligatory insurance in the country”, Kiguradze considers.
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| 3. |
GROWN IN GEORGIA – IMERETI GREEN BUSINESS
Companies
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Greens and vegetables producer company Herbia, which employs 50 people, currently produces annually 500 t of 15 names of production and occupies 95% of packed greens segment, the magazine reports. As the article notes, the company, which was founded in 2006, accomplished construction of hothouse in 2008, while in 2013 – became the leader in packed greens segment.
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| 4. |
KALADZE: WE WILL TAKE CONCRETE STEPS FOR SETTLEMENT OF LANDFILL PROBLEM IN LILO
Ecology & Health
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Tbilisi Mayor Kakha Kaladze declares that the City Hall will start working on arrangement of landfill in settlement Lilo. “Lilo landfill is in very bad condition and represents serious problem for the people living there”, he points.
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