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Daily News

October 9, 2020

Previous Issues:  Days: < 07 08 09 12 13 > 

 

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economics

    AS OF SEPTEMBER 30, GEORGIA’S OFFICIAL RESERVE ASSETS INCREASED BY 4.1% Q-O-Q

    National Bank of Georgia (NBG) reported that country’s official reserve assets amounted as of September 30 to $3.76 billion. The volume has increased by 4.1% quarter-on-quarter and by 4.5% year on year.


    NBG SOLD $30M

    National Bank of Georgia (NBG) declared about sale of $30 million at the currency auction today. Average weighted exchange rate made up 3.2168 GEL/USD.


    GEORGIAN FINANCE MINISTRY: THE WB EXPRESSES READINESS TO JOIN PROCESS OF PUBLIC ENTERPRISES’ REFORM

    The World Bank (WB) expresses readiness to join in process of reform of public enterprises of the country, Georgian Finance Ministry reported.

    In particular, International Finance Corporation (IFC, member of the WB group) will be that key financial institution, which will assist Georgia in effective implementation of the reform, the Ministry specified.


    RULE OF ASSIGNMENT/WITHDRAWAL OF STATUS OF INTERNATIONAL COMPANY FOR GEORGIAN ENTERPRISES IS APPROVED

    Georgian government approved rule of assignment and withdrawal of the status of international company for Georgian enterprises. Respective resolution entered in force immediately after publication (October 8).


    ON ASSISTANCE TO RTVELI OF 2021, 50.4M LARI ARE ENVISAGED

    Draft of Georgia’s state budget-2021 envisages 61.7 million lari for development of winegrowing/winemaking. Out of this sum, 50.4 million lari are intended for assistance to rtveli (vintage).


    ISET: THE GOVERNMENT’S GRAPE SUBSIDIES TOTALED IN 2008-2017 TO 192M LARI

    International School of Economics at Tbilisi State University (ISET) reported that total volume of subsidies, issued by Georgian government on grapes (direct payments to farmers) from 2008 (when subsidizing of the sector was started) to 2017, totaled to 192 million lari.

    Besides direct payments to farmers, the government had spent in 2016-2017 on average per 40 million lari a year for purchasing of grapes from farmers through state company Akura, ISET noted.


business

    IN 2019, NET PROFIT OF “SAKRUSENERGO” DECREASED BY 8.3%

    JSC Sakrusenergo (GeoRusEnergy) reported net profit of 13.99 million lari for 2019. According to audited report of the company, the volume has decreased by 8.3% year-on-year.


    IN 2019, NET PROFIT OF “GPOWER” DECREASED BY 29.9%

    LLC GPower reported net profit of 4.7 million lari for 2019. According to audited report of this energy company, the volume has decreased by 29.9% year-on-year.


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Exchange Rates (NBG)
  10/26/20 + / -
  USD   3.2285   0.0083
  EUR   3.8158   0.0021
  RUR   4.2209   0.0035
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