Daily News July 3, 2018	Days:  29 02 03 04 05

economics

INFLATION IN JUNE MADE UP 2.2%

Sakstat reported that annual inflation in June made up 2.2%. Quarterly inflation (i.e. price change in comparison with previous month, May) was negative (i.e. deflation), making up 0.6%.




PRIME MINISTER: NEW TAX REGIME APPLIES TO NEARLY 100% OF INDIVIDUAL ENTREPRENEURS

Since today, “Unique tax regime is enacted in Georgia, according to which sales tax to small businessmen is decreased 5 times”, Prime Minister Mamuka Bakhtadze declared at the briefing yesterday. “This is very large-scale reform, applying to nearly 100% of individual entrepreneurs”, he said and specified: “We speak about almost 120,000 individual entrepreneurs”.




IN Q2, EMISSION OF TREASURY SECURITIES MADE UP 415M LARI

The Finance Ministry reported that emission of treasury securities (short-term bills and long-term bonds) in the 2^nd quarter amounted to 415 million lari. If compared with the same period of 2017 (380 million lari), the volume has increased by 8.4%.




IN JANUARY-JUNE, NUMBER OF TOURIST VISITS INCREASED BY 22.9% Y-O-Y

National Tourism Administration reported that in January-June, there were 3.56 million visits of international travelers to Georgia, increasing in number by 13.6% year-on-year.

At that, number of tourist visits (i.e. which stay in Georgia lasted for 24 hours and more) made up 1.93 million, increasing by 22.9%.




IN Q1, NET PROFIT OF INSURANCE COMPANIES INCREASED BY 33.5% Y-O-Y

State Service for Insurance Supervision reported that net profit of Georgian insurance companies amounted for the 1^st quarter to 7.57 million lari. If compared with the same period of 2017, the volume has increased by 33.5%.




IN TOTAL PREMIUM, ATTRACTED IN Q1, SHARE OF 3 KINDS OF INSURANCE MADE UP 78.93%

State Service for Insurance Supervision reported that in total premium, attracted by Georgian insurance companies in the 1^st quarter (164.38 million lari), 3 kinds of insurance accounted for 78.93%. These were medical (health) insurance, insurance of land transport (except railway) and property insurance.

business

DIRECT AIR COMMUNICATION STARTED BETWEEN GEORGIA AND ROMANIA

Hungarian lowcoster WizzAir launched today regular flights between Romania and Georgia. Flights on Bucharest-Kutaisi route will be conducted three times a week (on Tuesdays, Thursdays and Saturdays).




IN Q1, REIMBURSEMENTS INCREASED IN VOLUME BY 20.8% Y-O-Y

State Service for Insurance Supervision reported that net volume of reimbursements of Georgian insurance companies totaled for the 1^st quarter to 68.85 million lari. If compared with the same period of 2017, the volume has increased by 20.8%.