Daily News April 5, 2018	Days:  03 04 05 10 11

economics

EXPORT OF AGROFOOD PRODUCTION IN Q1 INCREASED BY 34.7% Y-O-Y

Ministry of Environmental Protection and Agriculture reported that Georgia’s export of agrofood production as of April 1 totaled to $207.5 million, increasing by 34.7% year-on-year.

Out of total agrofood export, 45.7% was delivered to Russia and the EU.




WINE EXPORT IN Q1 INCREASED IN NATURAL EXPRESSION BY 24%, WHILE IN MONETARY EXPRESSION – BY 26%

National Wine Agency reported that Georgia’s wine export in the 1^st quarter made up in natural expression 17.7 million bottles (0.75 l), which by 24% exceeds an indicator of 2017.

Cost of exported wine totaled to $40.47 million, increasing by 26% year-on-year.




MORE 10 AGRICULTURAL COOPERATIVES TO JOIN PROGRAM OF PASTURES’ RATIONAL USE

More 10 agricultural cooperatives will join the state program of rational use of state-owned pastures, located in mountainous areas, Agency on Agricultural Cooperatives Development reported. The government made respective decision at the meeting today.




“COLLIERS INTERNATIONAL GEORGIA”: IN 2017, OFFER OF OFFICE SPACE IN TBILISI INCREASED BY 15%

In 2017, offer of office space in modern business centers of Tbilisi increased by 15% and made up 176,000 square m, Colliers International Georgia reported. Out of total offer growth, King David Business Center accounted for 53%, adding more 12,000 square m to business centers of A-class.




“GRANT THORNTON ADVISORY”: BY 2021, 76% OF GEORGIAN HOUSEHOLDS WILL BE SUBSCRIBERS OF FIXED BROADBAND NETWORK

Market consolidation and decline of economic growth slowed down recently construction of fiber-optic network in Georgia, however improvement of economy after consolidation and “reset” of construction plans, together with state project OpenNet (provision of broadband Internet access in regions) will lead to expansion of coverage area in the next 5 years, research of Grant Thornton Advisory says.

That will promote growth of number of subscribers of the fixed broadband network, approximately, up to 76% of Georgian households by 2021, the company forecasts.

business

LIABILITY INSURANCE PREMIUM IN 2017 DECREASED BY 18.2% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted as of December 31, 2017 in liability insurance, totaled to 20.62 million lari, reducing year-on-year by 18.2%. This kind of insurance accounted for 4.7% of total premium, attracted for the period.




FINANCIAL LOSS INSURANCE PREMIUM IN 2017 INCREASED BY 20% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted as of December 31, 2017 in insurance of financial losses, totaled to 2.42 million lari, increasing by 20% year-on-year. This kind of insurance accounted for 0.5% of total premium, attracted for the period.




INSURANCE OF CREDIT OBLIGATIONS IS CARRIED OUT ONLY BY 2 COMPANIES

State Service for Insurance Supervision reported that as of December 31, 2017, insurance of credit obligations was provided by TBC Insurance and Tao only.

At that, TBC Insurance attracted premium of 552,510 lari, accounting for 99.6% of total premium in this segment.




“ALAZANI ENERGY” GOT LAND PLOTS FOR CONSTRUCTION OF “KHADORHES-3”

For construction of KhadorHES-3, the government passed land plots with the right of construction to Alazani Energy for a period of 99 years.

Total area of land plots, located in Akhmeta municipality (Kakheti region), makes up 26,121 square m.




“WIZZAIR” TO LAUNCH DIRECT FLIGHTS TO ROMANIA

In summer, Hungarian low-coster WizzAir will start direct flights between Georgia and Romania. Flights between Kutaisi and Bucharest will be conducted since July 3 three times a week (on Tuesdays, Thursdays and Saturdays).




“IPM”: “CARREFOUR” WAS THE MOST MEDIA-ACTIVE SUPERMARKET OF 2017

In 2017, the most active supermarket in media was Carrefour, which accounted for 27% of all exposures, Institute for Polling and Marketing (IPM) reports.

Next were Goodwill (23%), Fresco (19%), Smart (13%) and Nikora (5%).