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Daily News


February 8, 2018

IN THIS ISSUE:

1. NBG: IN 2018, REAL GDP GROWTH WILL BE WITHIN 4.5%
2. NBG: IN MEDIUM-TERM PERIOD, INFLATION WILL GRADUALLY DECREASE TO TARGET INDICATOR OF 3%
3. ECONOMY MINISTRY: IMF POSITIVELY ESTIMATED ECONOMIC SITUATION IN GEORGIA
4. THE EU ALLOCATED GRANT OF 506,634 EUR TO TBILISI CITY HALL
5. JAPAN ASSISTS TO 3 GRANT PROJECTS IN GEORGIA
6. WITH ASSISTANCE OF EBRD, TRAINING PROGRAM TO BE CONDUCTED IN AGROTOURISM SECTOR
7. INVENTORY OF CULTURAL HERITAGE IN TSKALTUBO IS COMPLETED
8. RULE OF REPORTING BY MICROFINANCIAL ORGANIZATIONS TO NBG IS APPROVED
9. IN Q4 OF 2017, PROFIT OF “LIBERTY BANK” INCREASED BY 48.4% Y-O-Y
10. IN Q4 OF 2017, PROFIT OF “VTB BANK GEORGIA” INCREASED BY 14.35% Y-O-Y

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1. NBG: IN 2018, REAL GDP GROWTH WILL BE WITHIN 4.5%
Economics

National Bank of Georgia (NBG) forecasted real GDP growth rate within 4.5% in 2018.

Positive contribution to GDP growth will have net export, as well as consumption and investments, being caused by foreign influx, improvement of business mood and capital expenses of the state budget, NBG said.

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2. NBG: IN MEDIUM-TERM PERIOD, INFLATION WILL GRADUALLY DECREASE TO TARGET INDICATOR OF 3%
Economics

National Bank of Georgia (NBG) forecasted gradual decrease of inflation in the medium-term period to target indicator of 3%.

In particular, inflation in the first half of this year will average within 3.5-4%, while continue decrease in the second half of the year and will stabilized around target indicator of 3%, NBG stated in the annual monetary policy report.

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3. ECONOMY MINISTRY: IMF POSITIVELY ESTIMATED ECONOMIC SITUATION IN GEORGIA
Economics

IMF mission positively estimated economic situation in Georgia, Georgian Ministry of Economy and Sustainable Development reported.

Meeting with the mission was held at the Ministry today, where course of IMF program’s implementation and macroeconomic tendencies in the country were considered.

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4. THE EU ALLOCATED GRANT OF 506,634 EUR TO TBILISI CITY HALL
Economics

City Hall of Tbilisi reported that the EU allocated grant of 506,634 EUR to it. The funds are intended for launch of business accelerator in Tbilisi, which should render assistance to startup and small businessmen.

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5. JAPAN ASSISTS TO 3 GRANT PROJECTS IN GEORGIA
Economics

Japanese government within its “Grant Assistance for Grassroots Projects” (GGP) will finance implementation of 3 projects in Georgia, totaling to $575,000. Ceremony of the grant contracts’ signing was held in Tbilisi today.

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6. WITH ASSISTANCE OF EBRD, TRAINING PROGRAM TO BE CONDUCTED IN AGROTOURISM SECTOR
Economics

EBRD launched training program, aiming support of agrotourism development in Georgia. As a pilot area of the program, village of Mukhrani (Mtskheta-Mtianeti region) is selected.

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7. INVENTORY OF CULTURAL HERITAGE IN TSKALTUBO IS COMPLETED
Economics

Georgian National Agency for Cultural Heritage Protection reported completion of full inventory of cultural heritage objects in Tskaltubo (Imereti region).

In future, the obtained results will be used in preparation of master plan of land use in the city, the Agency noted.

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8. RULE OF REPORTING BY MICROFINANCIAL ORGANIZATIONS TO NBG IS APPROVED
Economics

President of National Bank of Georgia (NBG) approved rule of reporting by microfinancial organization to NBG (presentation of financial statements and accounting reports). Respectively, similar order of 2006 is recognized as stale.

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9. IN Q4 OF 2017, PROFIT OF “LIBERTY BANK” INCREASED BY 48.4% Y-O-Y
Business

Liberty Bank reported net profit of 52.38 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has increased by 48.4%.

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10. IN Q4 OF 2017, PROFIT OF “VTB BANK GEORGIA” INCREASED BY 14.35% Y-O-Y
Business

VTB Bank Georgia reported net profit of 20.26 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has increased by 14.35%.

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Exchange Rates (NBG)
  03/28/24 + / -
  USD   2.6978   0.0106
  EUR   2.9112   0.0225
  RUR   2.9177   0.0056
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