Daily News May 4, 2018	Days:  02 03 04 07 08

politics

ECONOMY MINISTRY: UNECE NAMED GEORGIA AMONG LEADING TRADE REFORMER COUNTRIES

The UN Economic Commission for Europe (UNECE) named Georgia among the leading reformer countries in sphere of trade, Georgian Ministry of Economy and Sustainable Development reported.

As the Ministry said, that was published after presentation in Geneva (Switzerland) of the research, related to regulating and procedural barriers in the trade sector of Georgia.




TBILISI MAYOR: CONCRETE TOOLS ARE CREATED FOR ERADICATION OF SYSTEMIC GAPS IN ARCHITECTURAL SERVICE

Mayor of Tbilisi Kakha Kaladze declared that new standard will be introduced since May 10 in architectural service of the city, which will be directed to eradication of systemic gaps, existing there. For this purpose “concrete tools and mechanisms are created”, he pointed at the recent meeting of the capital government.

economics

IN 2017, INVESTMENTS MADE UP OF 32% GEORGIA’S GDP

In 2017, ratio of investments, made in Georgia, to GDP of the country made up 32%, National Bank of Georgia (NBG) reported. In 2016, this rate made up 33%.




NBG: IN 2017, DOMESTIC DEMAND REMAINED WEAK

In its annual report, National Bank of Georgia (NBG) said that domestic demand in 2017 remained weak.

High rate of real private consumption’s year-on-year growth was recorded only in the 1^st quarter of the reporting year, NBG pointed.




BY IMF ARA METHODOLOGY, LEVEL OF GEORGIA’S INTERNATIONAL RESERVES BY THE END OF 2017 WAS NEAR TO 90%

National Bank of Georgia (NBG) reported that according to assessment of reserves adequacy by IMF ARA methodology, level of Georgia’s international reserves by the end of 2017 was near to 90%.

NBG noted that this methodology considers desirable that in order to insure from external and liquidity shocks, the level has fluctuate within 100-150%.




GEORGIAN FINANCE MINISTER HOPES TO DEEPEN COOPERATION WITH AFD

Georgian Finance Ministry reported about meeting of the Minister Mamuka Bakhtadze and deputy director of Asia department at French Development Agency (AFD) Jean-Claude Pires, where the parties considered issues of cooperation. The meeting took place in Manila (Philippines), within the 51^st annual meeting of board of governors of Asian Development Bank (ADB).




CHAIRMAN OF ECONOMIC POLICY COMMITTEE: NBG’S REGULATIONS ON RESTRICTION OF ISSUANCE OF CREDITS WITHOUT SOLVENCY CONFIRMATION ARE TIMELY

Chairman of the Parliament’s Committee on Branch Economy and Economic Policy Roman Kakulia considers that “regulations of National Bank [NBG] on restriction of issuance of credits without solvency confirmation are timely”. This is “necessary decision, which should be welcomed”, he declares.




ECONOMY MINISTRY: 24 GEORGIAN AND INTERNATIONAL COMPANIES ALREADY JOINED TO “STARTUP MEGOBRULI” PROGRAM

Georgian Ministry of Economy and Sustainable Development declared that 24 Georgian and international companies, including Amazon and Hubspots, already joined to program Startup Megobruli (Startup Friendly), which started in 2017. Presentation of the program’s web site (startupfriendly.gov.ge) took place on May 3.

business

ROADS DEPARTMENT: PROBLEMS ON SAMTREDIA-GRIGOLETI ROAD SECTION MUST BE SETTLED IN THE SHORTEST POSSIBLE TIME

Chinese company China Railway 23^rd Bureau Group Co. conducts works on construction of the 4^th section of Samtredia-Grigoleti road (Imereti region) “with considerable violations and lag”, Georgian Roads Department declared.

society

POLL: 83% OF CUSTOMERS SUPPORT DIGITALIZATION OF BANKING SERVICE

Poll, ordered by MasterCard and conducted in Georgia by Institute for Polling and Marketing (IPM-Research), showed that 83% of respondents support digitalization of banking service. They pointed at speed and saving of time, easiness of use and access from any device as the reasons.