EBRD PRESIDENT: “I AM PRETTY SURE” THAT GEORGIA WILL EXCEED FORECASTED 3.8% FOR THIS YEAR
“I am pretty sure that the forecast for this year, which is about 3.8%, will be beaten, because already Georgia has gone a little over 4%”, president of EBRD Suma Chakrabarti declared. “I think the forecast we had for next year will also be beaten, because Georgia will go beyond 4% next year”, he stated.
REFINANCING RATE REMAINS 7%
National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to leave the refinancing rate intact. Respectively, the refinancing rate makes up 7%.
OPPOSITIONAL MP: CREDITS, ISSUED BY TREASURY TO COMMERCIAL BANKS, ALREADY REACHED 635M LARI
MP from oppositional National Movement and ex-president of National Bank of Georgia (NBG) Roman Gotsiridze declared that credits, issued by Treasury to commercial banks, have reached already 635 million lari.
NBG “sharply reduced the refinancing credits.
NBG: TENDENCY OF LARIZATION GROWTH IN FINANCIAL SECTOR SHOULD BE NOTED
Tendency of larization growth in financial sector should be noted, National Bank of Georgia (NBG) declared.
Growth of credits during this year is caused mainly by credits, issued of lari, NBG specified, noting: at that, deposits, attracted in lari, are increasing for the last months too.
“SOCIETY AND BANKS”: TOUGHENING OF MONETARY POLICY IT IS NOT EXPECTED
Non-governmental organization Society and Banks considers that “recent devaluation of lari will not have strong impact on inflation”. “In conditions of stable exchange rate, toughening of monetary policy is not expected”, the organization said.
GEORGIAN-ITALIAN BUSINESS FORUM IS PLANNED FOR OCTOBER
Holding of Georgian-Italian business forum in Georgia is planned for October, Georgian Agriculture Ministry declared. As the Ministry said, the event will gather together representatives of agro-food sector and producers of farming machinery.
AGRICULTURE MINISTER: FOR LAST 2 YEARS, THERE ARE CERTAIN PROBLEMS IN REGARD OF RAW HAZELNUT
Agriculture Minister Levan Davitashvili declared that hazelnut sector of Georgia has high potential of export, but for the last 2 years, there are certain problems in regard of raw nuts.
“This year, we had very considerable challenge because of climatic conditions”, the Minister said, specifying that “climatic environment, caused by abundant rainfall, facilitated emergence of fungal organisms of various groups in hazelnut”.
“GEORGIAN LEASING COMPANY” OPENED FIRST BRANCH OF NEW BRAND
Sakartvelos Banki (Bank of Georgia) reported that Georgian Leasing Company (GLC, member of Sakartvelos Banki group) has opened the first branch of the new brand, Turbo. The branch is located in Tbilisi (Tsereteli Ave., 71).
ECONOMY MINISTRY: WITHIN “PRODUCE IN GEORGIA”, LLC “BENN” PLANS EXPANSION
Ministry of Economy and Sustainable Development declared that LLC Benn, engaged in clothes manufacturing, plans expansion within “Produce in Georgia” state program.
With assistance of the Ministry’s Produce in Georgia Agency, investments in the company’s project have totaled to 600,000 lari, the Ministry said.