NBG RAISED REFINANCING RATE TO 7%
National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to increase the monetary policy (refinancing) rate by 0.5 percentage points. Respectively, the rate makes up 7% now.
“SOCIETY AND BANKS”: RAISE OF REFINANCING RATE WAS EXPECTED
Non-governmental organization Society and Banks said that raise of refinancing rate by National Bank of Georgia (NBG) was expected. The organization specified that despite continued growth of export and remittances’ inflow, inflation still exceeds its
target rate, while lari continues to depreciate against the US dollar that puts pressure upon inflation.
“SOCIETY AND BANKS”: 98,260 CREDITS WITH FLOATING INTEREST RATE ARE ISSUED AS OF AUGUST 1
As of August 1, 98,260 credits with floating interest rate are issued in Georgia, non-governmental organization Society and Banks reported. Absolute majority of these credits is linked to refinancing rate of National Bank of Georgia (NBG), the organization noted.
IN Q2, GEORGIANS SPENT 617.5M LARI ABROAD
Sakstat reported that in the 2nd quarter, 417,000 Georgian residents have travelled abroad. Their spending upon the travels totaled to 617.5 million lari, Sakstat said.
THE GOVERNMENT SEEKS KEEPING OF TENDENCY OF SOVEREIGN RATING’S IMPROVEMENT
In the program for 2019-2020, submitted to the Parliament on September 3, Georgian government declares as a goal maintenance of tendency of improvement of Georgia’s sovereign rating.
The government specified that this “will make possible achievement of credit rating of investment grade BBB-/Baa3 in future”.
THE GOVERNMENT PLANS DIGITIZATION OF STATE SERVICES IN SEAPORTS
Georgian government plans digitization of state services in all seaports of the country and their combining in unified online platform. This is declared in the governmental program for 2019-2020, submitted to the Parliament on September 3.
IN Q2, KVEMO KARTLI REGION ACCOUNTED FOR 22.8% OF TOTAL SLAUGHTERS AND 47.6% OF ELEVATORS, WHILE SHIDA KARTLI – FOR 37% OF TOTAL COOL STORAGES
Sakstat reported that in the 2nd quarter, 101 cattle and poultry slaughterhouses operated in Georgia.
Of total slaughters, 22.8% were located in Kvemo Kartli region.
AGENCY OF INNOVATIONS AND TECHNOLOGIES NAMED WINNERS OF STARTUPS’ CO-FINANCING GRANT PROGRAM
Georgian Economy and Sustainable Development Ministry’s Agency of Innovations and Technologies named on September 3 those startup projects, which won the co-financing grant program. As the Agency reported, 20 winners were revealed in total, which will receive grants per 100,000 lari.
“GWP” TO SPEND 850,000 LARI FOR REHABILITATION OF WATER SUPPLY SYSTEM ON ONE OF STREETS IN ISANI DISTRICT
Georgian Water&Power (GWP, Tbilisi company of water supply and sewerage) reported about launch of rehabilitation of trunk system of water supply on Lezhava Street in Isani district of Tbilisi. Works have to be completed in November.
SAUDI “FLYNAS” EXTENDED ITS BATUMI FLIGHT PERMISSION UNTIL END OF SEPTEMBER
Georgian Civil Aviation Agency reported that Saudi low-coster Flynas has extended period of flights from Riyadh to Batumi until end of September.
The corresponding permission was issued to the airline on September 3.
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