Daily News August 5, 2019	Days:  01 02 05 06 07

politics

BUSINESS OMBUDSMAN: STATEMENT OF COMPETITION AGENCY CAUSED MISUNDERSTANDING IN A NUMBER OF COMPANIES

After the meeting with representatives of Georgian business associations, business ombudsman of the country Irakli Lekvinadze declared that statement of Competition Agency caused misunderstanding in a number of companies.

The matter concerns the statement, made by Competition Agency on August 2, which concerned possible prices’ coordination by companies and possible risks of violation of the law “On Competition”.

economics

NBG: MONETARY POLICY RATE IN 1-2 YEARS WILL RETURN TO NEUTRAL LEVEL

National Bank of Georgia (NBG) declared that it plans to maintain monetary policy rate in the short-term period at the current level (6.5%). That “will allow the exchange rate to facilitate economy in overcoming of shock”, NBG explained.




NBG: RATIO OF CURRENT ACCOUNT DEFICIT TO GDP MAKES UP 6.2%

Referring to estimations, National Bank of Georgia (NBG) said that Georgia’s ratio of current account deficit to nominal GDP in the 1^st quarter made up 6.2%. If compared with the same quarter of previous year, this is almost halved indicator, NBG noted.




NBG: IN Q1, REAL CREATED ADDED VALUE PER WORKING PERSON INCREASED BY 3.8%

National Bank of Georgia (NBG) reported that created in Georgian economy real added value per working person (labor productivity) increased in the 1^st quarter by 3.8%, if compared with the same period of 2018.

Growth of labor productivity is connected with agriculture, where the mentioned indicator increased by 4.6%, NBG said in its monetary policy report, published recently.




ECONOMY MINISTRY: THE 1^ST STAGE OF EXPANSION OF LIGHT-SIGNAL SYSTEM OF THE RUNWAY OF THE TBILISI AIRPORT IS COMPLETED

Georgian Ministry of Economy and Sustainable Development reported about completion by state-owned LLC Sakaeronavigatsia (Georgian Air Navigation) of the 1^st stage of expansion of runway’s light-signal system at Tbilisi airport.

According to the Ministry, the project was implemented by French ADP Ingenierie, while components of light-signal system were delivered and installed by Italian OCEM.

business

DIRECT AIR COMMUNICATION LAUNCHED BETWEEN KRAKOW AND KUTAISI

On August 4, the first direct flight was performed from Poland’s Krakow to Kutaisi airport, Georgian Airports Association reported. Hungarian low-coster Wizz Air will conduct regular flights twice a week by Airbus 321.




IN Q1, MEDICAL INSURANCE ACCOUNTED FOR 48.9% OF PORTFOLIO OF “PRIME”

Georgian State Service for Insurance Supervision reported that in total premium, attracted by Prime as of March 31, medical (health) insurance accounted for 48.9%. In this segment, the company attracted 1.35 million lari, decreasing the volume by 18.3% year-on-year.




IN Q1, INSURANCE OF LAND TRANSPORT ACCOUNTED FOR 64.7% OF PORTFOLIO OF “TAO”

Georgian State Service for Insurance Supervision reported that in total premium, attracted by Tao as of March 31, insurance of land transport (except railway) accounted for 64.7%. In this segment, the company attracted 928,960 lari, increasing the volume by 1.7% year-on-year.