Daily News May 4, 2022	Days:  02 03 04 05 06

economics

GEORGIA’S INFLATION IN APRIL MADE UP 12.8%

Sakstat reported that in April, annual inflation in Georgia made up 12.8% (against of target of 3%). Monthly inflation (i.e. compared with the previous month, March), made up 1.8%.




IN Q4 OF 2021, RATIO OF INSURANCE COMPANIES’ ASSETS TO GEORGIA’S GDP MADE UP 1.5%

National Bank of Georgia reported that in the 4^th quarter of 2021, ratio of assets of Georgian insurance companies to the country’s GDP made up 1.5%. In the 3^rd quarter of 2021, as well as in the 4^th quarter of 2020, the ratio made up 1.7%.




ECONOMY MINISTER: DEVELOPMENT OF INSURANCE SECTOR IN GEORGIA IS CRITICALLY IMPORTANT

Levan Davitashvili, Georgia’s Minister of Economy and Sustainable Development, declared that development of insurance sector in Georgia is critically important.

“Achievement of the desired pace of development, for its part, largely depends on relevant decisions of economic policy and coordination between the policy makers and the involved parties”, the Minister pointed.




NBG PRESIDENT: IN THE MODERN ERA OF FINANCE, NATIONAL BANK SHOULD EXPAND ITS REGULATORY POLICY

Koba Gvenetadze, president of National Bank of Georgia (NBG), declared that “in the modern era of finance, the NBG should expand the regulatory policy to cover new areas which would ultimately guarantee customer protection and create a level playing field financial system, deepen competition and build a safe and healthy digital financial environment”.

Gvenetadze noted that for the last 2 years, NBG has been conducting comprehensive research around the Central Bank Digital Currency (CBDC) concept and the growing range of Decentralized Finance (DeFi).




UP TO 200 COMPANIES TOOK PART IN GEORGIAN-CZECH BUSINESS FORUM

The Georgian-Czech business forum was attended by up to 200 companies, including more than 20 Czech ones, reported Georgian Ministry of Economy and Sustainable Development. The event took place in Tbilisi on May 3.




NEFCO TO ALLOCATE 6.5M EUR TO GEORGIA FOR IMPROVEMENT OF ENERGY EFFICIENCY IN PUBLIC SCHOOLS IN MOUNTAINOUS REGIONS

Georgia will receive 6.5 million EUR from the Nordic Environmental Finance Corporation (NEFCO) to improve the energy efficiency of public schools in mountainous regions, reported Georgian Finance Ministry. The corresponding agreements were signed in Tbilisi today.




TBILISI MAYOR: REHABILITATED SPACES ON GUDIASHVILI SQUARE WILL BE SOLD AT AUCTION

Tbilisi Mayor Kakha Kaladze declared that the 1^st stage of rehabilitation of buildings on Lado Gudiashvili Square, which have status of cultural heritage monuments, has been completed.

At the city government meeting today, the Mayor pointed that these objects are in municipal ownership and declared: “I charged the Vice-Mayor to start working with the business sector so that such spaces would be privatized through an auction”.

business

CZECH COMPANY TO RENEW BACKUP SYSTEM OF “SAKAERONAVIGATSIA”

With assistance of the Czech company ALES, the state-owned LLC Sakaeronavigatsia (Georgian Air Navigation) will renew its backup system LETVIS ATC. Corresponding agreement between the parties was signed on May 3 in Tbilisi.