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Daily News


December 6, 2017

IN THIS ISSUE:

1. DEPUTY FINANCE MINISTER: EXACT VOLUME OF BUREAUCRATIC EXPENSES’ CUT WILL BE SPECIFIED UPON COMPLETION OF REORGANIZATION PROCESS
2. EX-PRESIDENT OF NBG: THE PARLIAMENT CONDUCTED CORRECTION OF YET NOT APPROVED BUDGET-2018
3. INTRODUCTION OF MANDATORY INSURANCE OF PUBLIC PLACES’ RESPONSIBILITY IS PLANNED
4. AS OF SEPTEMBER 30, NET PROFIT OF INSURANCE COMPANIES DECREASED BY 42.8% Y-O-Y
5. AS OF SEPTEMBER 30, INSURANCE PREMIUM INCREASED BY 9.3% Y-O-Y
6. AS OF SEPTEMBER 30, INSURANCE REIMBURSEMENT INCREASED BY 13.9% Y-O-Y
7. BATUMI TO HOST CONSTRUCTION MATERIALS AND DEVELOPMENT FAIR
8. NEXT LOCAL COMPETITION OF MILLENNIUM INNOVATIONS IS ANNOUNCED

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1. DEPUTY FINANCE MINISTER: EXACT VOLUME OF BUREAUCRATIC EXPENSES’ CUT WILL BE SPECIFIED UPON COMPLETION OF REORGANIZATION PROCESS
Politics

Deputy Finance Minister Giorgi Kakauridze declared that exact volume of bureaucratic expenses’ cut will be specified upon completion of process of reorganization and optimization of governmental departments. This process will be finished in the 1st quarter of the next year, he said.

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2. EX-PRESIDENT OF NBG: THE PARLIAMENT CONDUCTED CORRECTION OF YET NOT APPROVED BUDGET-2018
Politics

Ex-president of National Bank of Georgia, MP from oppositional National Movement Roman Gotsiridze said that the Parliament has conducted “correction of yet not approved budget for 2018”. Expenditure increases by 305 million lari, while source of financing is mainly old account balance of Treasury, he specified and noted that this causes growth of deficit.

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3. INTRODUCTION OF MANDATORY INSURANCE OF PUBLIC PLACES’ RESPONSIBILITY IS PLANNED
Politics

The Parliament declared that definition of objects and insurance products is underway in respect of planned introduction of mandatory insurance of public places’ responsibility.

The subject was considered at the meeting of supervisory council of State Service for Insurance Supervision, which was held in the Parliament yesterday.

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4. AS OF SEPTEMBER 30, NET PROFIT OF INSURANCE COMPANIES DECREASED BY 42.8% Y-O-Y
Economics

State Service for Insurance Supervision reported that net profit of insurance companies amounted as of September 30 to 13.15 million lari. If compared with the same period of 2016, the volume has decreased by 42.8%.

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5. AS OF SEPTEMBER 30, INSURANCE PREMIUM INCREASED BY 9.3% Y-O-Y
Economics

State Service for Insurance Supervision reported that premium, attracted as of September 30 by Georgian insurance companies (direct insurance), totaled to 345.72 million lari. If compared with the same period of 2016, the volume has increased by 9.3%.

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6. AS OF SEPTEMBER 30, INSURANCE REIMBURSEMENT INCREASED BY 13.9% Y-O-Y
Business

State Service for Insurance Supervision reported that insurance reimbursement (net) totaled as of September 30 to 158.9 million lari. If compared with the same period of 2016, the volume has increased by 13.9%.

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7. BATUMI TO HOST CONSTRUCTION MATERIALS AND DEVELOPMENT FAIR
Economics

The 7th international fair of construction materials and development will start in Batumi on December 8, Georgian International Investors Association reported. The event will last until December 10.

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8. NEXT LOCAL COMPETITION OF MILLENNIUM INNOVATIONS IS ANNOUNCED
Economics

Millennium Challenge Account – Georgia announced competition of innovations of 2017-2018. Deadline for applications’ submission is December 20.

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  06/25/18 + / -
  USD   2.4531   0.0047
  EUR   2.8561   0.0036
  RUR   3.8977   0.0022
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