Daily News October 5, 2020	Days:  30 02 05 06 07

politics

ECONOMY MINISTER: WE ASKED TO ACCELERATE AND INTENSIFY PROCESS OF WORK ON THE US-GEORGIA FREE TRADE AGREEMENT

Today, Georgia’s Minister of Economy and Sustainable Development Natia Turnava held an online meeting with Joseph Semsar, Deputy Under Secretary for International Trade at the US Department of Commerce. As Georgian Ministry reported, the parties discussed trade and economic relations and plans for strategic partnership.




GEORGIA AND HONG KONG SIGNED AGREEMENT ON DOUBLE TAXATION AVOIDANCE

Georgian Finance Ministry reported about signing of agreement “On avoidance of double taxation of income and capital and suppression of tax dodging and evasion” with Hong Kong, special administrative region of China.

As the Ministry noted, the agreement is based on the model of the Organization for Economic Cooperation and Development (OECD), updated in 2017, and envisages standards, established by the project on base erosion and profit shifting (BEPS).




PRIME MINISTER: IN SPITE OF ABSENCE OF PROBLEMS IN MANAGEMENT OF FAST COVID-19 SPREAD, IT DOES NOT MEAN THAT RESOURCE OF HEALTHCARE SYSTEM IS UNLIMITED

In spite of the fact that today, “We have no problems in connection with management of increased number [of cases] and fast spread [of COVID-19], it does not mean that resource of healthcare system is unlimited”, Georgia’s Prime Minister Giorgi Gakharia declared today at the meeting of interdepartmental council, created by Georgian government for fight against COVID-19. “Any resource and, first of all, resource of healthcare system, has its own restrictions, which we have to envisage”, he pointed.




GEORGIAN ECONOMY MINISTER: CIVIL TRANSIT FREIGHTS BOTH TO AZERBAIJAN AND TO ARMENIA ARE TRANSPORTED VIA GEORGIA WITHOUT OBSTACLES

Transportation of transit freights of civil appointment via Georgia both to Azerbaijan and to Armenia “is made absolutely without obstacles”, Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared. “Transit transportation of civil goods is conducted also freely by air”, she pointed and stressed: “We didn’t set do not plan to set any restrictions in this term”.

economics

ANNUAL INFLATION IN SEPTEMBER MADE UP 3.8%

Sakstat reported that annual inflation in Georgia made up 3.8% in September. Monthly inflation rate (i.e. in comparison with the previous month, August) made up 0.7%.




IN 9 MONTHS, NBG SOLD $449.65M

In 9 months of this year, National Bank of Georgia (NBG) sold $449.65 million at currency auctions. In the same period of 2019 (auctions were held only in August-September), $72.8 million were sold (respectively, sold volume increased 6 times year-on-year).




DEPUTY FINANCE MINISTER: PRIMARY VERSION OF THE BUDGET WILL BE ESSENTIALLY REWORKED IN NEXT PERIOD

Georgia’s Deputy Finance Minister Giorgi Kakauridze declared that primary version of the draft state budget-2021, submitted to the Parliament on October 1, “will be essentially reworked in the next period”.

Part of actions against COVID-19 pandemic “is not envisaged in the budget so far – neither in direction of healthcare, nor in direction of social and economic support”, Kakauridze explained.




ECONOMY MINISTER: STATE SUPPORT OF BLUEBERRY BRANCH EXCEEDS 20M LARI

Georgia’s Minister of Economy and Sustainable Development Natia Turnava pointed that “branch of [cultivation of] blueberry in general is that sphere, which was especially promoted by the state rendered in recent years”.

According to Turnava, “14 million lari were spent only from agricultural programs”.

business

REGULAR AIR FLIGHTS ON RIGA ROUTE RESUMED IN KUTAISI AIRPORT

After 6-months pause, regular flights between Kutaisi and Riga (Latvia) are resumed, Georgian Airports Association reported. As the Association noted, Hungarian low-coster Wizz Air will make only one two-way flight a week at the first stage.