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Daily News

November 4, 2019

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economics

    THE IMF DECREASED FORECAST FOR GEORGIA’S GDP GROWTH IN 2020

    “Despite the deteriorating external environment, the Georgian economy has exhibited resilience, and sustained economic growth is expected in 2019-20”, declares the IMF mission, which was in Georgia from October 23 to November 4).

    As the IMF forecasts, Georgia’s economy will grow in 2019 by 4.6%, while in 2020 – by 4.3%.


    IN 9 MONTHS, GEORGIA’S EXPORT TO TURKEY DECREASED BY 20.3% Y-O-Y, IMPORT FROM TURKEY INCREASED BY 7%

    Sakstat released estimation, according to which Georgia’s export to Turkey for 9 months amounted to $155.03 million (5.7% of Georgia’s total export). If compared with the same period of 2018, the volume has decreased by 20.3%.


    IN 9 MONTHS, GEORGIA’S EXPORT TO RUSSIA INCREASED BY 17.9% Y-O-Y, IMPORT FROM RUSSIA DECREASED BY 1.9%

    Sakstat released estimation, according to which Georgia’s export to Russia for 9 months amounted to $371.4 million (13.6% of Georgia’s total export). If compared with the same period of 2018, the volume has decreased by 17.9%.


    IN 9 MONTHS, GEORGIA’S TRADE WITH CHINA DECREASED Y-O-Y IN BOTH DIRECTIONS

    Sakstat released estimation, according to which Georgia’s export to China for 9 months amounted to $125.16 million (4.6% of Georgia’s total export). If compared with the same period of 2018, the volume has decreased by 23.1%.


    THE IMF PROGRAM TO BE EXTENDED FOR A YEAR

    Georgian office of the IMF reported that the 5th review of the IMF ongoing program in Georgia (EFF, Extended Fund Facility) will be completed and the program will be extended for a year.

    The office noted that respective agreement, reached between Georgian government and the IMF mission, needs approval of the IMF executive board.


    CONTRIBUTIONS, ACCUMULATED AS OF OCTOBER 1 IN THE PENSION AGENCY, EXCEED 392.3M LARI

    Georgian government reported that contributions, accumulated as of October 1 in the Pension Agency, exceeded 392.3 million lari.

    In the reporting period, number of participants, registered in the accumulative pension scheme, made up 897,300, including 687,200 employees of private organizations and 210,200 employees of public institutions.


    HOTHOUSE CLUSTER TO BE CREATED NEAR TSKALTUBO

    Georgian Ministry of Environmental Protection and Agriculture reported that hothouse cluster Agrozone of Imereti will be created in the village of Maglaki (Tskaltubo municipality of Imereti region).

    As the Ministry said, tender for procurement of design and consulting services will be announced in the next few days.


business

    WITHIN “UNIFIED AGROPROJECT”, COLD STORAGE LAUNCHED IN GORI

    Georgian Ministry of Environmental Protection and Agriculture reported about launch of cold storage, created in Gori (Shida Kartli region) within the “Unified Agroproject”.

    According to the Ministry, investments in the project totaled to 2.5 million lari, including preferential agrocredit of 750,000 lari and grant of 600,000 lari.


    FISH-PROCESSING ENTERPRISE TO BE BUILT IN KHOBI MUNICIPALITY WITHIN “PRODUCE IN GEORGIA” PROGRAM

    Georgian Agency of State Property Management declared that the village of Kulevi (Khobi municipality of Samegrelo region), fish-processing enterprise will be built within “Produce in Georgia” state program.

    According to the Agency, investments in the enterprise, which should employ up to 100 locals, will amount to 8 million lari.


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