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Daily News

November 5, 2019

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politics

    GEORGIA AND THE NETHERLANDS DISCUSSED DEVELOPMENT OF COOPERATION

    Within his visit to the Netherlands, Georgia’s Prime Minister Giorgi Gakharia met with Dutch counterpart Mark Rutte.

    As Georgian government reported, the parties touched upon cooperation between the countries in various spheres and even more development of potential, existing in respect of trade and economic relations.


    GEORGIAN ECONOMY MINISTER AND CHINESE TRANSPORT MINISTER DISCUSSED DEVELOPMENT OF “THE MIDDLE CORRIDOR”

    Within her visit to China, Georgia’s Minister of Economy and Sustainable Development Natia Turnava met with Chinese Transport Minister Li Xiaopeng.

    As Georgian Ministry said, the parties considered at the meeting issues of bilateral economic cooperation and paid special attention to development of transport communications, including those within China’s “Belt and Road” initiative.


    IN THE “FREEDOM OF THE NET” RATING OF “FREEDOM HOUSE”, GEORGIA IS ON THE 10TH PLACE

    According to report “Freedom of the Net” of 2019, Freedom House places Georgia (with 75 points from 100 possible) on the 10th place, along with Italy, Georgian National Communication Commission reported.

    According to the Commission, Freedom House considers that freedom of the Internet in Georgia was fully protected in the reporting period (in fact, the report says that “Authorities generally respected digital rights in Georgia during the coverage period”).


    THE GOVERNMENT APPOINTED PARLIAMENTARY SECRETARY

    Georgian government reported about appointment of Beka Dochviri, deputy chief of the government’s administration, as parliamentary secretary of the government.

    From 2017 to September 2019, Dochviri was director of legal department at the Interior Ministry, while before that he headed legal department at the Ministry of Economy and Sustainable Development.


economics

    ANNUAL INFLATION IN OCTOBER MADE UP 6.9%

    Sakstat reported that in October, annual inflation in Georgia made up 6.9%, while monthly inflation (i.e. price change in comparison with September) – 0.8%.

    Annual inflation without prices of tobacco products made up 6.2%, while monthly rate – 0.8%, Georgian statistics service specified.


    AS OF OCTOBER 1, CREDITING OF NATIONAL ECONOMY INCREASED BY 27.8% Y-O-Y

    National Bank of Georgia reported that credits, issued as of October 1 by commercial banks to various spheres of national economy (in national and foreign currency), totaled to 14.16 billion lari. The volume has increased by 7.1% quarter-on-quarter and by 27.8% year-on-year.


    NBG: EXCLUDING EXCHANGE RATE EFFECT, LOAN PORTFOLIO IN SEPTEMBER INCREASED BY 14.6% Y-O-Y

    In September, year-on-year growth of loan portfolio slightly increased in comparison with June, and, excluding effect of exchange rate, made up 14.6%, National Bank of Georgia (NBG) indicated in its recent monetary policy report.

    NBG specified that in the 3rd quarter, growth of retail crediting went down by 2.2 percentage points (pp) and made up 9.8%, while crediting of legal entities increased by 3.6 pp up to 20.3%.


    “SAKSTAT” INTRODUCES NEW METHODOLOGY OF SYSTEM OF NATIONAL ACCOUNTS

    Sakstat reported that it will turn since November 15 to new standard of system of national accounts (SNA 2008). It means calculation of GDP and a number of macroeconomic indicators by new methodology, Georgian statistics service specified.


    WASTEWATER TREATMENT FACILITY TO BE BUILT IN MESTIA

    Georgian United Company of Water Supply declared that wastewater treatment facility will be built for the first time in Mestia (mountain region Svaneti). Besides, sewerage network of 2.5 km will be installed within the project.


business

    “BELAVIA” RAISES FREQUENCY OF FLIGHTS TO TBILISI

    Georgian Civil Aviation Agency reported that Belarus national carrier Belavia will increase frequency of flights to Georgia during winter navigation season. Respective permission was issued to the airline on November 1.


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Exchange Rates (NBG)
  11/12/19 + / -
  USD   2.9618   0.0015
  EUR   3.2645   0.0052
  RUR   4.6247   0.0108
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