“TI GEORGIA”: PUBLIC DEBT’S RATIO TO GDP STILL EXCEEDS THE TARGET INDICATOR
TI Georgia, Georgian branch of Transparency International, indicates that despite reduction of public debt to GDP ratio, it still exceeds the target indicator, specified in the strategy of Georgia’s social and economic development (Georgia 2020) – 40%.
TI Georgia specified that as of December 31, 2017, Georgia’s public debt amounted to 17 billion lari, making up 44.7% of the last year’s GDP, while as of June 30 of this year, the debt made up 16.3 billion lari, reducing to 41.1% of GDP.
“TI GEORGIA”: IT IS IMPORTANT THAT THE SUM, SAVED IN THE BUDGET IN THE FIRST HALF OF THE YEAR, WAS NOT SPENT IN LAST MONTHS OF THE YEAR
TI Georgia, Georgian branch of Transparency International, indicates that it is important that the sum, saved in the budget in the first half of the year, was not spent in its second half, especially in last months.
In past years, uneven spending in quarters and uneven distribution of negative balance was an important challenge in terms of growth of inflation rate and fluctuation of lari, the organization specified.
“TI GEORGIA”: IN 6 MONTHS, INVESTMENT PROJECTS GOT 80% OF ENVISAGED ALLOCATIONS
TI Georgia, Georgian branch of Transparency International, declared that against of 526 million lari, provided in the state budget for investment projects during 6 months, factual spending was by 105 million lari less, i.e. the plan was implemented by 80%.
Spending’s big gap with the plan indicates implementation of projects with pace, much slower than was planned, the organization pointed.
THE PREMIER: FUNDAMENTAL REFORM OF EDUCATION SYSTEM IS ABSOLUTE PRIORITY OF GEORGIAN GOVERNMENT
Georgia’s Prime Minister Mamuka Bakhtadze declared that “Fundamental reform of system of education represents an absolute priority for the government of Georgia”. “The main task is that the sector of education had at least two-digit indicator in GDP of the country”, he pointed.
STATUTE OF THE PUBLIC-PRIVATE PARTNERSHIP AGENCY IS APPROVED
By its resolution of September 5, the Georgian government approved the statute of the Agency for Public-Private Partnership. The Agency is legal entity of public law, subordinated to Prime Minister.
COMPETITION AGENCY OF GEORGIA TO COOPERATE WITH THE RELEVANT STRUCTURE OF MONGOLIA
Competition Agency of Georgia signed memorandum of cooperation with Authority for Fair Competition and Consumer Protection of Mongolia.
The document was signed within the visit to Ulaanbaatar of head of the Agency Nodar Khaduri, held by invitation of Mongolian National Chamber of Commerce and Industry and Confederation of Asia-Pacific Chambers of Commerce and Industry.
HEAD OF “NORD POOL CONSULTING”: INTRODUCTION OF MODERN MARKET MECHANISMS IN GEORGIA WILL BE CARRIED OUT STEP BY STEP
Head of Norwegian Nord Pool Consulting Hans-Arild Bredesen declared that establishment of organized power exchange in Georgia and introduction of modern market mechanisms will be carried out step by step. The process will be carried out according to the strategy, calculated for years, he noted.
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