Daily News February 1, 2023	Days:  30 31 01 02 03

economics

MONETARY POLICY RATE IN GEORGIA REMAINS 11%

National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to keep intact the monetary policy rate (refinancing rate). Accordingly, the rate remains 11%.




NBG: SLOWDOWN OF CREDIT ACTIVITY GROWTH IN GEORGIA IS EXPECTED TO CONTINUE

Growth of credit activity in Georgia continued to slow down and it is expected that this dynamics will be kept in future too, National Bank of Georgia (NBG) declared.

The slowdown is taking place against the background of tight monetary policy, including effect of recently enacted macroprudential instruments, NBG noted.




“SOCIETY AND BANKS”: MAINTENANCE OF REFINANCING RATE AT 11% IS CAUSED BY CAUTION

Maintenance by the National Bank of Georgia (NBG) of the refinancing rate at 11%, against the background of weakening internal and external factors of inflation in Georgia is caused by caution, said non-governmental organization Society and Banks.

The organization noted that inflation is expected to return to the target (3%) in the 2^nd half of this year, while until then, tight monetary policy will be preserved.




IN Q4 OF 2022, THERE WERE 5,244 CONCENTRATIONS REGISTERED IN GEORGIA

Georgian National Competition Agency reported that 5,244 concentrations (mergers) were registered in Georgia in the 4^th quarter of 2022.

Only in 10 cases, concentration was subject to prior notification in accordance with the annual turnover of the parties, but to 5 of them, exceptions defined by competition law were applicable, the Agency noted.




CONSTRUCTION OF TBILISI-SAGAREJO HIGHWAY SHOULD BE COMPLETED IN 2024

Construction of the Vaziani bypass road, part of the highway from Tbilisi to Kakheti region, should be completed in 2023, Georgian Roads Department reported.

Construction of the remaining 2 sections (Vaziani-Sagarejo and Sagarejo bypass road) is planned to complete in 2024, the Department said.




THIRD STAGE OF TBILISI TAXI REFORM TO START IN APRIL

The 3^rd stage of taxi reform will start on April 1, Tbilisi Mayor Kakha Kaladze declared at the city government meeting today. We have been implementing this reform since 2018, while implemented the 2^nd stage in 2019, he noted.




RECONSTRUCTION OF “VARKETILI” SUBWAY STATION IN TBILISI TO COST 13.4M LARI

Reconstruction of Varketili subway station will start on February 9, declared Tbilisi Mayor Kakha Kaladze at the city government meeting today. The project cost makes up 13.4 million lari, he noted.

business

A NEW HOTEL WAS OPENED IN TBILISI WITH KAZAKH INVESTMENT

Today, new hotel Holiday Inn Express Tbilisi Avlabari was opened near the Avlabari subway station in Tbilisi.

The chain hotel was built with a Kazakh investment.