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Daily News

August 2, 2021

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politics

    GIORGI KALANDARISHVILI APPOINTED AS CEC CHAIRMAN FOR 6 MONTHS

    At the extraordinary session today, Georgian Parliament appointed Giorgi Kalandarishvili as the chairman of the Central Election Commission (CEC). His candidacy was supported by 83 votes (only the parliamentary majority), while 3 MPs voted “contra”.


    PREMIER: RATES ON LOANS FOR PENSIONERS SHOULD BE LOWERED EVEN MORE

    “In 2012, when we came to power, interest on bank loans for pensioners made up 100-120% then”, while “now, it is about 35%”, Georgia’s Prime Minister Irakli Garibashvili declared. “However, it is surely not enough, banking servicing [interest rates] for pensioners and these payments should be lowered even more”, he stated.


    PREMIER: COMPANIES EXTRA CHARGE 300-400% ON SOME MEDICINES

    Georgia’s Prime Minister Irakli Garibashvili declared that “There is preliminary information that companies are extra charging 300-400% on some medicines”. This is “absolutely unacceptable”, and “nothing like this happens in any other country”, he pointed.


economics

    AS OF JUNE 30, GEORGIAN ECONOMY’S CREDITING DECREASED BY 0.9% Q-O-Q AND INCREASED BY 15.5% Y-O-Y

    National Bank of Georgia reported that loans, issued by Georgian banks to various sectors of national economy, totaled as of June 30 to 18.8 billion lari. The volume has decreased by 0.9% quarter-on-quarter, but increased by 15.5% year-on-year.


    IN JUNE, INTEREST RATE ON CREDITS, ISSUED IN LARI, MADE UP 15.6%, IN FOREIGN CURRENCY – 6.5%

    National Bank of Georgia reported that in June, average weighted market interest rate on credits, issued by the country’s banks in lari, made up 15.6%. The rate has increased by 0.4 percentage points (pp) quarter-on-quarter, but decreased by 0.6 pp year-on-year.


    STATE PROGRAM OF MORTGAGE LOANS’ SUBSIDIZING TO BE LAUNCHED IN SEPTEMBER

    The state program of mortgage loans’ subsidizing will be launched on September 1, reported Georgian Ministry of Economy and Sustainable Development.

    The Ministry noted that this one-time program, aiming assistance to large families or families with newborns, will be implemented by its Agency Produce in Georgia.


    COMBINED SUPPORT OF 60 BRANCHES WITH POTENTIAL OF EXPORT DEVELOPMENT AND IMPORT SUBSTITUTION TO BE LAUNCHED WITHIN “PRODUCE IN GEORGIA” PROGRAM

    Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that new mechanisms of support to 60 branches with potential for export development and import substitution will be launched within the framework of the state program “Produce in Georgia”.

    This is a combined support, which implies both access to a low-interest banking resource and use of a special grant, as well as other important assistance, the Minister said after the government meeting today.


    WHEN PURCHASING “RKATSITELI” OR “KAKHURI MTSVANE” GRAPES IN KAKHETI FOR AT LEAST 0.9 LARI PER 1 KG, WINE COMPANY TO GET STATE SUBSIDY OF 0.35 LARI

    Georgian Ministry of Environmental Protection and Agriculture declared that the state subsidy will be awarded this year to those wine companies, which will buy grapes of Rkatsiteli or Kakhuri Mtsvane varieties in Kakheti region for at least 0.9 lari per 1 kg. In this case, the state subsidy will make up 0.35 lari per 1 kg.


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