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Daily News

February 8, 2018

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economics

    NBG: IN 2018, REAL GDP GROWTH WILL BE WITHIN 4.5%

    National Bank of Georgia (NBG) forecasted real GDP growth rate within 4.5% in 2018.

    Positive contribution to GDP growth will have net export, as well as consumption and investments, being caused by foreign influx, improvement of business mood and capital expenses of the state budget, NBG said.


    NBG: IN MEDIUM-TERM PERIOD, INFLATION WILL GRADUALLY DECREASE TO TARGET INDICATOR OF 3%

    National Bank of Georgia (NBG) forecasted gradual decrease of inflation in the medium-term period to target indicator of 3%.

    In particular, inflation in the first half of this year will average within 3.5-4%, while continue decrease in the second half of the year and will stabilized around target indicator of 3%, NBG stated in the annual monetary policy report.


    ECONOMY MINISTRY: IMF POSITIVELY ESTIMATED ECONOMIC SITUATION IN GEORGIA

    IMF mission positively estimated economic situation in Georgia, Georgian Ministry of Economy and Sustainable Development reported.

    Meeting with the mission was held at the Ministry today, where course of IMF program’s implementation and macroeconomic tendencies in the country were considered.


    THE EU ALLOCATED GRANT OF 506,634 EUR TO TBILISI CITY HALL

    City Hall of Tbilisi reported that the EU allocated grant of 506,634 EUR to it. The funds are intended for launch of business accelerator in Tbilisi, which should render assistance to startup and small businessmen.


    JAPAN ASSISTS TO 3 GRANT PROJECTS IN GEORGIA

    Japanese government within its “Grant Assistance for Grassroots Projects” (GGP) will finance implementation of 3 projects in Georgia, totaling to $575,000. Ceremony of the grant contracts’ signing was held in Tbilisi today.


    WITH ASSISTANCE OF EBRD, TRAINING PROGRAM TO BE CONDUCTED IN AGROTOURISM SECTOR

    EBRD launched training program, aiming support of agrotourism development in Georgia. As a pilot area of the program, village of Mukhrani (Mtskheta-Mtianeti region) is selected.


    INVENTORY OF CULTURAL HERITAGE IN TSKALTUBO IS COMPLETED

    Georgian National Agency for Cultural Heritage Protection reported completion of full inventory of cultural heritage objects in Tskaltubo (Imereti region).

    In future, the obtained results will be used in preparation of master plan of land use in the city, the Agency noted.


    RULE OF REPORTING BY MICROFINANCIAL ORGANIZATIONS TO NBG IS APPROVED

    President of National Bank of Georgia (NBG) approved rule of reporting by microfinancial organization to NBG (presentation of financial statements and accounting reports). Respectively, similar order of 2006 is recognized as stale.


business

    IN Q4 OF 2017, PROFIT OF “LIBERTY BANK” INCREASED BY 48.4% Y-O-Y

    Liberty Bank reported net profit of 52.38 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has increased by 48.4%.


    IN Q4 OF 2017, PROFIT OF “VTB BANK GEORGIA” INCREASED BY 14.35% Y-O-Y

    VTB Bank Georgia reported net profit of 20.26 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has increased by 14.35%.


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Exchange Rates (NBG)
  02/22/18 + / -
  USD   2.4669   0.0017
  EUR   3.0321   0.0114
  RUR   4.3466   0.0171
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