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Daily News

November 6, 2019

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politics

    ECONOMY MINISTER: THERE IS ALREADY A YEAR THAT SANATORIA OF TSKALTUBO ARE PUBLICLY OFFERED FOR PRIVATIZATION, BUT NO RESPONSE DID FOLLOW

    “There is already a year that offer of privatization of sanatoria of Tskaltubo [spa resort in Imereti region] are openly published on the web site of the National Agency of State Property, but this question had no response”, Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared.

    For the last 15 years, the state did not manage to sell most sanatoria in Tskaltubo, the Minister pointed in her statement.


economics

    FINANCE MINISTRY: SINCE 2005, CHINA ALLOCATED TO GEORGIA $62M AS GRANT

    Since 2005, Chinese government, under agreement on economic and technical cooperation, allocated to Georgian government about $62 million as grant, Georgian Finance Ministry reported. More $4.5 million were allocated as interest-free credit against goods, the Ministry noted.


    “FITCH”: WE MAINTAIN OUR STABLE OUTLOOK FOR THE GEORGIAN BANKING SECTOR

    “We maintain our stable outlook for the Georgian banking sector”, Fitch Ratings declared. As the agency explained, “good near-term economic prospects should help to support banks’ financial profiles”.


    “FITCH”: LOAN GROWTH AT GEORGIAN BANKS SHOULD STAY UNDER CONTROL IN NEAR TERM

    “Loan growth at Georgian banks should stay under control in the near term”, Fitch Ratings declared. As the agency explained, “stricter regulatory standards for retail lending and tightened monetary policy constrain new lending”.


    AS OF SEPTEMBER 30, RETAIL MORTGAGE LOANS, ISSUED IN LARI, INCREASED BY 54.2% Y-O-Y, WHILE ONES IN FOREIGN CURRENCY – BY 7.8%

    National Bank of Georgia reported that retail mortgage loans, issued in national currency as of September 30, totaled to 4.17 billion lari. The volume has increased by 12.5% quarter-on-quarter and by 54.2% year-on-year.


    AS OF SEPTEMBER 30, MORTGAGE LOANS, ISSUED IN LARI TO LEGAL ENTITIES, INCREASED BY 28.7% Y-O-Y, WHILE ONES IN FOREIGN CURRENCY – BY 23.6%

    National Bank of Georgia reported that mortgage loans, issued to legal entities in national currency as of September 30, totaled to 1.96 billion lari. The volume has increased by 14.8% quarter-on-quarter and by 28.7% year-on-year.


business

    FROM NEXT MARCH, ARAB “ETIHAD AIRWAYS” TO MAKE REGULAR FLIGHTS TO TBILISI

    In March 2020, UAE airline Etihad Airways will launch regular flights between Abu Dhabi and Tbilisi, reported TAV Georgia (operator of Tbilisi and Batumi airports).

    During a summer season, the UAE airline will conduct daily direct flights by Airbus 321.


    MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: “KHAREBA” COMPANY PLAYS IMPORTANT ROLE IN PROMOTION OF IMERETI WINEMAKING

    Khareba company plays important role in promotion of Imereti winemaking and is an interesting object for visitors, Georgia’s Minister of Environmental Protection and Agriculture Levan Davitashvili declared during his visit to the company.

    Khareba is one of the first, which offered wide range of wines, made of Imereti grape varieties, to both local consumers and foreign visitors”, the Minister noted.


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