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Daily News

October 9, 2018

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economics

    REVENUE SERVICE: TAX ARREARS OF 325.15M LARI WRITTEN OFF FOR 10,690 PAYERS

    Since amendments to Tax Code have entered in force (this August), tax arrears of 325.15 million lari were written off for 10,690 payers, Georgian Finance Ministry’s Revenue Service declared. As the Service noted, process of arrears’ write-off continues.


    IN 2017, AVERAGE MONTHLY NOMINAL SALARY INCREASED BY 6.3%

    In 2017, average monthly nominal salary in Georgia has increased year-on-year by 6.3% and made up 999.1 lari, Sakstat reported.

    As Sakstat pointed, the highest salary in the reporting year was recorded in financial and insurance activities (2,008 lari), professional, scientific and technical activities (1,594 lari), construction (1,465 lari) and information technologies and communications (1,425 lari).


    ISET: IN Q2, AGRICULTURE PRODUCTION DECREASED, BUT FDI IN THE SECTOR INCREASED

    International School Economics at Tbilisi State University (ISET) declared that agreculture production in the 2nd quarter has decreased by 0.8% year-on-year. At that, “In spite of decline in agricultural production, FDI in agriculture has increased”.


    IN 9 MONTHS, EXPORT OF GEORGIAN WINE INCREASED IN NATURAL EXPRESSION BY 13% Y-O-Y, IN MONETARY EXPRESSION – BY 22%

    Georgian National Wine Agency reported that in 9 months of this year, export of Georgian wine made up about 60 million bottles (0.75 l) that by 13% exceeds indicator of the similar period of 2017. Cost of exported wine totaled to $142 million, increasing by 22% year-on-year.


    GEORGIA LAUNCHED CONSULTATIONS ON LEGAL DRAFTS ON EXTENDED PRODUCER RESPONSIBILITY

    Today, Tbilisi hosted a working meeting, which aimed consideration of legislative requirements on Extended Producer Responsibility (EPR, acceptance of responsibility for collecting and recycling of specific hazardous waste).

    This meeting opened a consulting process on drafts of legal documents, connected to EPR, the EU representation in Georgia pointed.


    GEORGIAN-GERMAN BUSINESS AND COOPERATION FORUM WAS HELD IN FRANKFURT

    Today, Georgian-German business and cooperation forum was held within Frankfurt Book Fair. The event was organized by Georgian government, German Federal Ministry of Economic Cooperation and Development and the UN Industrial Development Organization (UNIDO).


business

    AS OF JUNE 30, LIABILITY INSURANCE PREMIUM INCREASED BY 33.4% Y-O-Y

    State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in liability insurance, amounted to 12.86 million lari. The volume has increased by 33.4% year-on-year and made up 4.4% of total insurance premium.


    AS OF JUNE 30, PREMIUM IN INSURANCE OF OBLIGATIONS’ FULFILLMENT INCREASED BY 38.4% Y-O-Y

    State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in insurance of obligations’ fulfillment, amounted to 5.12 million lari. The volume has increased by 38.4% year-on-year and made up 1.7% of total insurance premium.


    AS OF JUNE 30, PREMIUM IN FINANCIAL LOSS’ INSURANCE DECREASED BY 17.6% Y-O-Y

    State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in financial loss’ insurance, amounted to 1.28 million lari. The volume has decreased by 17.6% year-on-year and made up 0.4% of total insurance premium.


    IN Q2, ONLY 2 COMPANIES PROVIDED INSURANCE OF CREDIT OBLIGATIONS

    State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in credit obligations’ insurance, amounted to 316,707 lari. The volume has decreased by 7.1% year-on-year and made up 0.1% of total insurance premium.


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