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Daily News


February 8, 2019

IN THIS ISSUE:

1. IN 2018, GEORGIA’S EXPORT OF AGRICULTURAL PRODUCTION INCREASED BY 23.2% Y-O-Y
2. AUDIT SERVICE: IN DECEMBER 2018, BY 162% MORE BUDGETARY FUNDS WERE SPENT, THAN DURING 11 MONTHS ON AVERAGE
3. EDUCATION MINISTER: GROWTH OF SALARIES OF TEACHERS WILL BEGIN IN SEPTEMBER
4. DRAFT BILL “ON ENERGY AND WATER SUPPLY” OFFERS TWO MODELS FOR TRANSMISSION LICENSEES
5. ALONG WITH SUPPLIERS, THERE WILL BE TRADERS ON ENERGY MARKET TOO
6. REHABILITATION OF GAMARJVEBA-RUSTAVI ROAD’S SECTION TO BE FINISHED IN AUGUST
7. MODERNIZED CEMENT FACTORY AND NEW CLINKER ENTERPRISE OPENED IN KASPI
8. GEORGIAN STOCK EXCHANGE ADMITTED IN TRADING SYSTEM BONDS OF “M2 COMMERCIAL REAL ESTATE”

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1. IN 2018, GEORGIA’S EXPORT OF AGRICULTURAL PRODUCTION INCREASED BY 23.2% Y-O-Y
Economics

Georgian Ministry of Environmental Protection and Agriculture reported that the country’s export of agricultural production amounted in 2018 to $959.2 million. If compared with 2017, the volume has increased by 23.2%, the Ministry noted.

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2. AUDIT SERVICE: IN DECEMBER 2018, BY 162% MORE BUDGETARY FUNDS WERE SPENT, THAN DURING 11 MONTHS ON AVERAGE
Economics

Georgian State Audit Service declared that public institutions spent in December 2018 by 162% more funds of the state budget than on average during previous 11 months.

Namely, 2.42 billion lari was spent in December.

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3. EDUCATION MINISTER: GROWTH OF SALARIES OF TEACHERS WILL BEGIN IN SEPTEMBER
Economics

Mikhail Batiashvili, Georgia’s Minister of Education, Science, Culture and Sport, declared that “in May, we will present the concrete plan for teachers’ salaries”, while “growth of salaries will be carried out since September”.

According to Batiashvili, any teacher has to have an opportunity to pass exam at any time and to raise own formal sill grade.

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4. DRAFT BILL “ON ENERGY AND WATER SUPPLY” OFFERS TWO MODELS FOR TRANSMISSION LICENSEES
Economics

Draft bill “On Energy and Water Supply”, being submitted to Georgian Parliament for consideration, envisages reorganization of existing licensee companies in terms of separation of activities on transmission or distribution from activities on generation or supply.

Explanatory note, enclosed to the draft, indicates that the bill offers to transmission licensees the two models of separation.

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5. ALONG WITH SUPPLIERS, THERE WILL BE TRADERS ON ENERGY MARKET TOO
Economics

Draft bill “On Energy and Water Supply”, being submitted to Georgian Parliament for consideration, defines status of traders and suppliers on the market.

Explanatory note, enclosed to the draft, indicates that trader is an entity, which is authorized for resale of electric power on the market, while supplier is an entity, which supplies electric power to end user.

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6. REHABILITATION OF GAMARJVEBA-RUSTAVI ROAD’S SECTION TO BE FINISHED IN AUGUST
Economics

Georgian Roads Department declared that rehabilitation of the 8-km section of Gamarjveba-Rustavi highway (Kvemo Kartli region), which is carried out since November 2018, will be finished in this August.

The Department noted that the project worth 4.46 million lari is financed from the state budget.

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7. MODERNIZED CEMENT FACTORY AND NEW CLINKER ENTERPRISE OPENED IN KASPI
Business

Today, HeidelbergCement Georgia opened modernized cement factory and new clinker-producing enterprise in Kaspi (Shida Kartli region).

The company said that preparation of the modernization project was started in 2016, while its implementation costed $100 million.

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8. GEORGIAN STOCK EXCHANGE ADMITTED IN TRADING SYSTEM BONDS OF “M2 COMMERCIAL REAL ESTATE”
Business

Georgian Stock Exchange declared that bonds of JSC m2 Commercial Real Estate are admitted in B-category listing since January 29.

The matter concerns emission of 3-year bonds with nominal value of $1,000, totaling to $30 million.

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Exchange Rates (NBG)
  02/22/19 + / -
  USD   2.6598   0.0028
  EUR   3.0162   0.0034
  RUR   4.0543   0.0017
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Wish you happy New Year! Let happiness, peace and prosperity be with you and your beloved ones in 2019!

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