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Daily News

December 4, 2017

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politics

    SWITZERLAND AND GEORGIA DISCUSSED FURTHER DEEPENING OF RELATIONS

    On December 3, visit of president of Switzerland Doris Leuthard to Georgia has started. She held meetings with Georgia’s President Giorgi Margvelashvili and Prime Minister Giorgi Kvirikashvili.


economics

    ANNUAL INFLATION IN NOVEMBER MADE UP 6.9%

    Sakstat reported that annual inflation (i.e. in comparison with the same month of previous year) in November made up 6.9%. In turn, monthly inflation (i.e. in comparison with the previous month, i.e. October) made up 1.1%.


    NBG PRESIDENT: BECAUSE OF PERMANENT PRESENCE OF SHOCKS ON FINANCIAL MARKETS, INFLATION WILL ALMOST ALWAYS DIFFER FROM TARGET LEVEL

    President of National Bank of Georgia (NBG) Koba Gvenetadze notes that in Georgia, medium-term target of inflation makes up 3%.

    At the same time, “because of permanent presence of shocks on financial markets, inflation almost always will differ from target level: sometimes it will be above the target, sometimes – below”, Gvenetadze explains.


    THE WB STARTS DEVELOPMENT OF NEW COOPERATION PROGRAM FOR GEORGIA

    “The World Bank Group is currently designing its new Country Partnership Framework (CPF) for Georgia for the period July 2018 to June 2022”, Georgian representation of the WB reported.

    As the representation noted, the Framework will be “closely aligned with country’s national development priorities”.


    IBRD ALLOCATES ADDITIONAL 16.9M EUR FOR IMPROVEMENT OF EAST-WEST HIGHWAY

    Agreement on additional financing of the project of improvement of East-West highway corridor was signed today in Tbilisi between Georgia and International Bank for Reconstruction and Development (IBRD, member of the World Bank Group (WB)). The document envisages allocation by the bank of additional 16.9 million EUR to Georgia.


    TOURISM ADMINISTRATION: IN 6 MONTHS, TOURISM SHARE IN GDP MADE UP 6.7%

    National Tourism Administration reported that according to data of the 1st and the 2nd quarters of the year, share of tourism in Georgia’s GDP made up 6.7%. At that, the share for the 2nd quarter made up 6.9%.


business

    MANAGEMENTS OF PORTS OF POTI AND ANAKLIA EXCHANGED HITS

    According to Klaus Holm Laursen, director general of Poti port and representative of APM Terminals (operator of Poti port), there “is no need” of deep-water port in Georgia today.

    In reply, founder of Anaklia Development Consortium Mamuka Khazaradze declared that “similar statements hamper new opportunities of Georgia, development of its economy”.


    AGRICULTURE MINISTRY: $597,482 INVESTED IN BAYLEAF-PROCESSING ENTERPRISE IN VANI

    Agriculture Ministry reported that investments of LLC Kartuli Dapna (Georgian Laurel), created in Vani (Imereti region) within “Unified Agriproject”, amounted to $597,482. From this sum, $239,000 are share of the state co-financing, the Ministry noted.


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