Daily News

IN THIS ISSUE:

On December 6, executive board of IMF completed the first review of Georgia’s performance under 3-year extended arrangement under the Extended Fund Facility (EFF) on a lapse of time basis, IMF resident representative office in Georgia reported.

As the office pointed, “Georgia’s economic performance has improved, but risks to the outlook remain”.

This year, “we expect income from tourism exceeding $2.7 billion”, First Deputy Premier Dimitri Kumsishvili declared. The tourist sector has employed 180,000 people in Georgia, he noted.

Tbilisi Mayor Kakha Kaladze declared that budget of projects, to be implemented in the capital in 2018, is increased by 60 million lari, including the Finance Ministry’s transfer of 14 million lari.

This latter sum, “for the purpose of immediate launch of works, will be reflected in chartered capital of LLC Tbilisi Transport Company already this year and will be used for modernization and reconstruction of the subway cars”, Kaladze declared at the capital’s government meeting yesterday.

National Bank of Georgia (NBG) reported that from now on, financial aggregates of commercial banks will be published on web site of NBG with more details.

In particular, article “Net Profit/Loss from Revaluation of Currency Funds” is separated from “Other Non-Interest Income” and “Other Non-Interest Expenses”, NBG specified.

State Service for Insurance Supervision reported that pension contributions amounted as of September 30 to 4.25 million lari, doubling in comparison with the same period of 2016.

At that, contributions of Aldagi made up 2.46 million lari, increasing year-on-year by 10.7% and accounting for 57.9% of total volume.

State Service for Insurance Supervision reported that premium, attracted as of September 30 in insurance of obligations’ fulfillment (banking guarantee), totaled to 5.25 million lari (year-on-year growth – 31.9%). This segment accounts for 1.52% of total insurance premium for the period.

According to research of farmers’ mood, carried out by the UN Food and Agriculture Organization (FAO), farmers’ unawareness of the diseases transferred from animals to human still remains one of key problems in Georgia. This, in turn, is directly connected with issue of food safety, experts note.

Agriculture Ministry reported that Georgian Olives has invested 5 million lari in cultivation of olive trees and creation of olives-processing enterprise in village of Sakobo (Signagi municipality of Kakheti region).

In near future, the company plans export of production to America, Europe, countries of South Caucasus and CIS, the Ministry said.