Daily News February 3, 2023	Days:  01 02 03 06 07

politics

REPORT OF THE EUROPEAN COMMISSION: IN TERMS OF ALIGNMENT WITH EU LEGISLATION, GEORGIA GENERALLY HAS SOME LEVEL OF PREPARATION OR IS MODERATELY PREPARED

On February 2, the European Commission published the analytical report, supplementing the Commission’s conclusion of June 17, 2022 on Georgia’s application for EU membership (to remind, Georgia got only confirmation of the European perspective then). The report assesses the country’s overall capacity to comply with the EU Code of Laws (i.e. alignment of Georgia’s national legislation with EU acquis).




GEORGIAN PREMIER: REPORT OF THE EUROPEAN COMMISSION SHOWS THAT GEORGIA DESERVES STATUS OF THE EU MEMBERSHIP CANDIDATE

Georgia’s Prime Minister Irakli Garibashvili declared that the report, published recently by the European Commission, “once again confirms that Georgia, as the foremost reformer, deserves to be granted the status of the EU membership candidate”.

The report clearly reflects the progress, made by Georgia on the path of European integration, the Premier indicated in his post on Twitter.




GEORGIA AND LITHUANIA DISCUSSED ISSUES OF ECONOMIC COOPERATION

The 3^rd meeting of the intergovernmental commission on economic cooperation between Georgia and Lithuania was held in Vilnius. During the last 7 years, the meeting was held for the first time, noted Georgian Ministry of Economy and Sustainable Development.

economics

GEORGIAN FINANCE MINISTER INDICATES IMPORTANCE OF STATE INVESTMENTS AS A FACTOR CONTRIBUTING TO THE INVESTMENT ENVIRONMENT

At a discussion within the framework of the “Economic Forum” (a joint project of Sakartvelos Banki (Bank of Georgia) and analytical center Geocase), Georgia’s Finance Minister Lasha Khutsishvili spoke about the importance of public investment as a factor contributing to the investment environment.

While reporting on the Minister’s speech, Georgian Finance Ministry said that Khutsishvili noted that, along with business, the state will also play an active role in order to promote maximally investments in the country’s priority sectors.




NBG: GEORGIAN BANKERS EXPECT A SLIGHT INCREASE IN SPENDING ON FINANCIAL RESOURCES

In its recent monetary policy report, National Bank of Georgia (NBG) says that representatives of the Georgian banking sector expect a slight increase in spending on financial resources in the 1^st quarter. It should be noted that there were similar expectations in previous quarters too.




NBG: GEORGIAN BANKERS EXPECT A SLIGHT TIGHTENING OF INTEREST CONDITIONS ON LOANS

In its recent monetary policy report, National Bank of Georgia (NBG) says that representatives of the Georgian banking sector expect a slight tightening of interest conditions on loans in the 1^st quarter. It should be noted that there were similar expectations in previous quarters too.




“GALT&TAGGART”: GEORGIA’S GDP GROWTH IN 2023 WILL BE 4.8%, IN 2024 – 5%

Galt&Taggart projects Georgia’s GDP growth in 2023 at 4.8% after a 10.1% growth in 2022.

It is expected that the further recovery of tourism (projected annual growth of 15%), investment growth and the lasting impact of immigration will stimulate growth in 2023 along with a slowdown in inflation, Galt&Taggart says in its recent weekly review.




“GALT&TAGGART”: IN 2023, MODERATE GROWTH IN REAL ESTATE PRICES IS EXPECTED IN GEORGIA

Currently, there is no clear evidence that migrants are switching to buying apartments in Georgia rather than renting, Galt&Taggart points. If this does not happen, we expect a moderate increase in real estate prices, the company says in its recent weekly review.