Daily News December 6, 2022	Days:  02 05 06 07 08

economics

WORLD BANK: IN ORDER TO KEEP GEORGIA’S GDP GROWTH WITHIN 4-4.5%, FURTHER REFORMS WILL BE REQUIRED

In the Country Economic Memorandum, the World Bank (WB) says that in order to keep Georgia’s GDP growth within 4-4.5%, further reforms will be required.

The document titled “Charting Georgia’s Future: Competitive, Connected and Capable” was presented today at the event, hosted jointly by the WB and the Georgian government.




WORLD BANK: LOGISTICS INDUSTRY IS PROBABLY GEORGIA’S WEAKEST LINK

In the Country Economic Memorandum, the World Bank (WB) says that the logistics industry is probably Georgia’s weakest link. With few exceptions, the sector participants are small, fragmented and provide limited services of poor quality, the document states.




GEORGIA TO EXTEND TAX BENEFITS FOR PERSONS EMPLOYED IN AGRICULTURE

The Georgian government decided to extend tax benefits, established for persons employed in agriculture and agricultural cooperatives, for a period of 3 years – until January 1, 2026.

Besides, the obligation on cash registers’ use by individuals trading on the markets, etc., will be postponed until 2026.




EMPLOYMENT OF GEORGIAN SEAFARERS TO BE REGULATED BY LAW

The draft law “On Seafarers’ Labor”, which regulates employment and working conditions on vessels, was considered by the Georgian government at the meeting on December 5.

Georgian Ministry of Economy and Sustainable Development pointed that drafting of the bill stems from the agenda of the EU-Georgia Association Agreement.




GERMANY ALLOCATES 55M EUR TO GEORGIA TO IMPROVE WATER SUPPLY SYSTEM OF BATUMI

The German government allocates 55 million EUR to Georgia for the 5^th phase of the project of municipal infrastructure in Batumi.

Of this amount, 53 million EUR is a loan, while 2 million EUR is a grant for assistance to Batumis Tskali (Batumi Water, municipal water supply company).




COMPETITION AGENCY: IN TOTAL APPLICATIONS ON CUSTOMER RIGHTS PROTECTION, TRADE SECTOR ACCOUNTS FOR 80%

Since start of accepting applications on customer rights protection (November 1), Georgian National Competition Agency received 42 applications. Of which, the Agency has already started studying 6 cases.

business

AS OF SEPTEMBER 30, PROFIT OF “TBC BANK” INCREASED BY 1.9% Y-O-Y

TBC Bank reported net profit of 449.49 million lari for the 3^rd quarter. If compared with the same period of 2021, the volume has increased by 1.9%.




AS OF SEPTEMBER 30, PROFIT OF “SAKARTVELOS BANKI” DECREASED BY 0.6% Y-O-Y

Sakartvelos Banki (Bank of Georgia) reported net profit of 654.37 million lari for the 3^rd quarter. If compared with the same period of 2021, the volume has decreased by 0.6%.