IN 2016, LARI DEPRECIATED AGAINST THE US DOLLAR BY 10.4%
Georgian government reported that in 2016, Georgian national currency has depreciated against the US dollar by 10.4%.
Information notice, enclosed to the draft budget-2018, which the government has submitted to the Parliament, explains the depreciation by strengthening of the US dollar and economic crisis in Russia and the countries, which have close ties with Russian economy.
REFINANCING CREDITS IN Q3 INCREASED BY 39% Y-O-Y
National Bank of Georgia reported that volume of 13 refinancing credits (7-day), issued in the 3rd quarter, totaled to 13.08 billion lari. If compared with the same period of 2016 (9.4 billion lari), the volume has increased by 39%.
IN Q3, DEMAND FOR DEPOSIT CERTIFICATES 3 TIMES EXCEEDED EMISSION
National Bank of Georgia reported that in the 3rd quarter, demand for deposit certificates (a discount security) 3 times exceeded emission.
In particular, total demand in the reporting period amounted to 180 million lari, while total emission (3 auctions) – to 60 million lari.
LEGISLATION ON COMMUNICATIONS IS PLANNED TO AMEND IN ORDER TO BRING IT IN COMPLIANCE WITH EURODIRECTIVES
National Communication Commission reported that draft amendments to law “On Electronic Communications” were presented today for authorized persons.
Work on the draft was conducted in pursuance of fulfillment of obligations, undertaken within Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and the EU, the Commission said.
NBG: GOLDEN 50-TETRI COINS NOT TO HAVE STATUS OF LAWFUL PAYMENT MEANS ANY MORE
National Bank of Georgia (NBG) declared that coins with nominal value of 50 tetri of emission of 1995 (so-called “golden”) will not have status of lawful means of payment, stating on January 1, 2018.
During 2018, exchange of these coins by the nominal value will be possible in any commercial bank or cash center of NBG, while since January 1, 2019 – only in the cash center, NBG said.
THE GOVERNMENT: HELICOPTER OF BORDER POLICE TO FLY WEEKLY TO TUSHETI
The government reported that according to decision of the Prime Minister, Border Police of the Interior Ministry will fly weekly helicopter to Tusheti this winter, as it was in last year.
Regarding situation in this mountainous area in northeastern part of Georgia, single road to which was blocked by heavy snow, administration of the government said that Roads Department conducts clearing works in accelerated mode.
“GWP” TO INVEST 9M LARI IN ARRANGEMENT OF WATER SUPPLY IN TABAKHMELA AND TSAVKISI
Georgian Water&Power (GWP, water and sewerage company of Tbilisi) declared that it will arrange new system of water supply in upper zone of Tbilisi, in particular, in Tabakhmela and Tsavkisi settlements. For that end, the company plans investment of 9 million lari.
AS OF JUNE 30, PROFIT OF “TBC BANK” INCREASED BY 61.8% Y-O-Y
TBC Bank reported net profit of 149.48 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 61.8%.
AS OF JUNE 30, PROFIT OF “SAKARTVELOS BANKI” INCREASED BY 84.3% Y-O-Y
Sakartvelos Banki (Bank of Georgia) reported net profit of 208.42 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 84%.
INSOLVENCY PROCEEDINGS LAUNCHED AGAINST “TAC GEORGIA”
Tbilisi city court decided to launch insolvency proceedings against of LLC TAC Georgia (sales of products of Turkish producer of textiles TAC). The company appealed to court with the respective request in April.
0.0017
0.0215
