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Daily News


February 22, 2021

IN THIS ISSUE:

1. NOMINEE FINANCE MINISTER: TOTAL LOSSES DUE TO THE PANDEMIC IN 2020-2021 WILL AMOUNT TO 8.5B LARI
2. NOMINEE ECONOMY MINISTER: THE GOVERNMENT’S PRIORITY IS HIGH-QUALITY AND HIGH-EMPLOYMENT-ORIENTED INVESTMENTS
3. NOMINEE MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: OVER THE PAST 8 YEARS, THE STATE INVESTED 700M LARI IN AGRICULTURE
4. NOMINEE MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: GEORGIAN COMPANIES WILL BE ALLOWED TO PARTICIPATE IN CONSTRUCTION OF KAKHETI HIGHWAY’S SECTION
5. GEORGIAN PARLIAMENT VOTED CONFIDENCE IN THE GOVERNMENT
6. IN 2020, RETAIL REVENUES OF MOBILE OPERATORS DECREASED BY 1.9%, NUMBER OF SUBSCRIBERS – BY 2.6%
7. IN 2020, “MAGTICOM” LED IN MOBILE SERVICES IN TERMS OF ARPU
8. COMPETITION AGENCY DECLARED INADMISSIBLE THE COMPLAINT OF “GEORGIAN POST” AGAINST LLC “INFORMATION AND COMMUNICATION SYSTEMS”

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1. NOMINEE FINANCE MINISTER: TOTAL LOSSES DUE TO THE PANDEMIC IN 2020-2021 WILL AMOUNT TO 8.5B LARI
Economics

Ivane Machavariani, nominee for the post of Finance Minister of Georgia, announced that total losses of Georgian economy due to the COVID-19 pandemic in 2020-2021 will amount to 8.5 billion lari. In 2020, the economy lost 4 billion lari, he noted.

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2. NOMINEE ECONOMY MINISTER: THE GOVERNMENT’S PRIORITY IS HIGH-QUALITY AND HIGH-EMPLOYMENT-ORIENTED INVESTMENTS
Economics

Natia Turnava, nominee for the post of Minister of Economy and Sustainable Development of Georgia, stated that in Georgia, “the investor will meet predictable rules of the game and legislation of European type”.

“For the government, there are two priority directions in respect of investments: the first is high-quality investments that are focused on creation of high added value, the second is investments focused on high employment”, Turnava pointed.

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3. NOMINEE MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: OVER THE PAST 8 YEARS, THE STATE INVESTED 700M LARI IN AGRICULTURE
Economics

Levan Davitashvili, nominee for the post of Minister of Environmental Protection and Agriculture of Georgia, reported that over the past 8 years, the government invested 700 million lari in the field of agriculture. This secured attraction of additional investments from private sector in the volume of about 4 billion lari, he said.

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4. NOMINEE MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: GEORGIAN COMPANIES WILL BE ALLOWED TO PARTICIPATE IN CONSTRUCTION OF KAKHETI HIGHWAY’S SECTION
Economics

“This year, construction of the most overloaded road section will start – the 35-km highway in Kakheti, which will be financed from the state budget”, announced Irakli Karseladze, nominee for the post of Minister of Regional Development and Infrastructure of Georgia.

Karseladze noted that “Taking into account the funding from the state budget, Georgian companies with requirements-complying qualification will also be able to participate in the tender for construction of certain sections of the highway”.

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5. GEORGIAN PARLIAMENT VOTED CONFIDENCE IN THE GOVERNMENT
Politics

Today, Georgian Parliament voted confidence in the government and approved it (the procedure is due to resignation of Giorgi Gakharia from the post of Prime Minister on February 18).

New Prime Minister became Irakli Garibashvili (he already held this post in 2013-2015), represented by the ruling Georgian Dream (to remind, almost all opposition MPs boycott work of the Parliament, considering it illegitimate after voting fraud at October elections).

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6. IN 2020, RETAIL REVENUES OF MOBILE OPERATORS DECREASED BY 1.9%, NUMBER OF SUBSCRIBERS – BY 2.6%
Business

Georgian National Communications Commission reported that retail revenues of Georgian mobile operators totaled in 2020 to 489.8 million lari. If compared with 2019, the volume has decreased by 1.9%.

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7. IN 2020, “MAGTICOM” LED IN MOBILE SERVICES IN TERMS OF ARPU
Business

Georgian National Communications Commission reported that in December 2020, mobile operator MagtiCom’s average revenue per user (ARPU) in the field of mobile services made up 9.8 lari. If compared with December 2019, the showing has increased by 2.2%.

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8. COMPETITION AGENCY DECLARED INADMISSIBLE THE COMPLAINT OF “GEORGIAN POST” AGAINST LLC “INFORMATION AND COMMUNICATION SYSTEMS”
Business

Georgian National Competition Agency declared inadmissible the complaint on possible unfair competition, filed by state-owned Georgian Post against LLC Information and Communication Systems.

The matter concerns right of the latter company to use trademarks of TNT and FedEx.

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Exchange Rates (NBG)
  03/04/21 + / -
  USD   3.3190   0.0062
  EUR   3.9977   0.0001
  RUR   4.4985   0.0428
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