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Daily News

February 7, 2024

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politics

    CANDIDATE FOR THE POST OF GEORGIA’S FINANCE MINISTER: GEORGIA PRESENTED TO THE EUROPEAN COMMISSION THE PROGRAM OF ECONOMIC REFORMS FOR 2024-2026

    On January 15, within the set deadline, Georgia presented a program of economic reforms for 2024-2026 to the European Commission, candidate for the post of Georgia’s Finance Minister Lasha Khutsishvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet).

    Georgia has joined for the first time the process of preparation of a medium-term program of economic reforms according to the methodology, developed by the European Commission for EU candidates, Khutsishvili noted.


    CANDIDATE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: WORK ON LEGISLATIVE AND INSTITUTIONAL RAPPROCHEMENT WITH THE EU BEYOND DCFTA COMMITMENTS WILL BE INTENSIFIED

    Proceeding from Georgia’s status of EU candidate, work on legislative and institutional rapprochement with the EU beyond the framework of obligations assumed under the Free Trade Agreement (DCFTA) will be intensified, candidate for the post of Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet). A bilateral action plan will be developed together with the European Commission, and its implementation will begin, he said.


    CANDIDATE FOR THE POST OF GEORGIA’S FINANCE MINISTER: IT IS PLANNED TO JOIN DONORS OF ASIAN DEVELOPMENT FUND

    This year, we plan to join the platform of the Asian Development Fund (ADF) of the Asian Development Bank (ADB) as a donor, candidate for the post of Georgia’s Finance Minister Lasha Khutsishvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet).

    In 2022, Georgia has already joined list of donor countries of the Association for International Development (IDA, a member of the World Bank Group).


economics

    CANDIDATE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: IN 2024, CONSTRUCTION OF 12 HYDROELECTRIC POWER STATIONS WILL BE COMPLETED

    In 2024, construction of 12 hydroelectric power stations with a total installed capacity of 157 mW will be completed, candidate for the post of Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet).

    Davitashvili also reported that it is planned to hold the 3rd auction on support to renewable energy through the new scheme (CFD mechanism), while the 2nd auction (announced on total capacity of 800 mW) will end in February.


    CANDIDATE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: OVER 1,000 KM OF POWER LINES WILL BE BUILT IN GEORGIA

    In order to improve safety of electricity supply and strengthen the transmission network, power lines with total length of over 1,000 km will be additionally built in Georgia, candidate for the post of Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet). He did not specify the amount of funding at that.


    CANDIDATE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: STATE AGENCY “PRODUCE IN GEORGIA” WILL ASSIST COMPANIES IN SECURITIES EMISSION

    The State Agency Produce in Georgia will assist companies in emission of securities, candidate for the post of Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet).

    It is planned to support up to 15 beneficiaries, Davitashvili indicated, but did not specify the type of support.


    CANDIDATE FOR THE POST OF GEORGIA’S MINISTER OF ENVIRONMENT PROTECTION AND AGRICULTURE: ADDITIONAL 13M LARI ARE ALLOCATED TO THE ENVIRONMENTAL AGENCY TO STRENGTHEN MONITORING NETWORK

    Compared to last year, additional 13 million lari has been allocated to the National Environmental Agency to expand and strengthen the monitoring network, candidate for the post of Georgia’s Minister of Environment Protection and Agriculture Otar Shamugia declared in Parliament of the country (because of recent change of Prime Minister, the Parliament should re-approve the Cabinet). By end of the year, 245 hydrometeorological observation stations will operate countrywide, which will improve the early warning system, he said.


    TBILISI MAYOR: TBILISI BUDGET FOR 2024 TO BE INCREASED TO 2B LARI

    Approved budget of Tbilisi for 2024 makes up 1.76 billion lari, while after amendments to be made, it will increase to 2 billion lari (by about 13%), Tbilisi Mayor Kakha Kaladze declared at the city government meeting today.

    “The budget will reflect transitional balances, which consist mainly of surplus revenues”, Kaladze said.


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