Daily News

IN THIS ISSUE:

The EU representation in Georgia reported that the EU has transferred non-reimbursable aid of 140 million lari (48.1 million EUR) to Georgia “in acknowledgement of commonly agreed reform progress in 2017 in several sectors: trade and business development, vocational education and employment, agriculture, and integration of internally displaced people (IDPs)”.

The assistance is allocated also in support of judicial sphere, public administration, public finance management and regional development policy.

Ministry of Economy and Sustainable Development declared about creation of National Subsoil Agency, in form of legal entity of public law under the Ministry.

As the Ministry noted, creation of the Agency is caused by recent structural changes in the government.

According to order of chief of Service for Accounting, Reporting and Audit Supervision, international standards of financial reporting, released in 2017, are translated in Georgian and adopted for use.

The standards are released by International Accounting Standards Board (IASB).

Georgian government adopted national rural development action plan 2018-2020.

As representation of the UN Development Program (UNDP) reported, the plan with total budget of over 1.7 billion lari, “addresses some of the key challenges identified by the national Rural Development Strategy 2017-2020, and sets 69 measurable targets that will be achieved in the coming three years”.

Ministry of Environment Protection and Agriculture reported about plans to invest 100 million lari in the project of a hothouse cluster.

As a result, cluster model of hothouse of international standards and terminal for freight transportation (at Kopitnari airport, Imereti region) will be created in the country, the Ministry pointed.

National Energy and Water Supply Regulating Commission has set new consumer tariffs for TELASI (Tbilisi energy distributor) and EnergoPro Georgia (regional energy distributor). New tariffs will act from January 1, 2018 to December 31, 2020.

National Energy and Water Supply Regulating Commission has set new tariffs for GWP (Georgian Water&Power, Tbilisi water company), Mtskhetis Tskali (Mtskheta Water) and Rustavis Tskali (Rustavi Water). New tariffs will act from January 1, 2018 to December 31, 2020.

Anaklia Development Consortium declared about signing of preliminary agreement with Chinese ZPMC (Shanghai Zhenhua Heavy Industries Company Limited with head office in Shanghai), under which ZPMC will join the Consortium. ZPMC undertakes investment of at least $50 million in construction of the deep-water port in Anaklia, the Consortium said.

State Service for Insurance Supervision reported that premium, attracted as of September 30 in liability insurance, amounted to 15.34 million lari, decreasing year-on-year by 26.8%. This kind of insurance accounted for 4.4% of total premium, attracted for the period.

State Service for Insurance Supervision reported that premium, attracted as of September 30 in credit obligations’ insurance, amounted to 453,801 lari, increasing year-on-year 53.9 times. This kind of insurance accounted for 0.1% of total premium, attracted for the period.