Daily News June 10, 2020	Days:  08 09 10 11 12

politics

PRIME MINISTER: AGRICULTURE IS THAT SPHERE, WHICH CAN NOT ONLY FEED THE COUNTRY, BUT TO HAVE POTENTIAL OF EXPORT ALSO

“Agriculture is that sphere, which can not only feed this country, but also have also the potential of export”, Georgia’s Prime Minister Giorgi Gakharia declared.

“That is not simply, land sites are very fragmented, there is water problem somewhere, while somewhere – there is a problem of knowledge, but industrialization of agriculture has to happen”, the Premier pointed at the meeting with farmers of Shida Kartli region today.

economics

IN Q1, FINANCIAL SECTOR WAS IN THE LEAD IN TERMS OF FDI IN GEORGIA

Sakstat released estimation, according to which largest part of foreign direct investments (FDI), made in Georgia in the 1^st quarter, accounts for financial sector – $94.9 million, or 57.4% of total volume. If compared with the same period of 2019, the volume has increased by 97.1%.




IN Q1, THE UK WAS IN THE LEAD IN TERMS OF FDI IN GEORGIA

Sakstat released estimation, according to which largest part of foreign direct investments (FDI), made in Georgia in the 1^st quarter, arrived from the United Kingdom – 44.2%, or $73.1 million. If compared with the same period of 2019, the volume has increased by 18.9%.




OUT OF $40M, WHICH NBG BROUGHT ON SALE, ONLY $29.65M WERE SOLD

National Bank of Georgia (NBG) reported about bringing of $40 million at the currency auction today. Out of this sum, only $29.65 million were sold, NBG said, however.




DRAFT OF THE UPDATED STATE BUDGET: REVENUES DECREASE BY 9%, TAX REVENUES – BY 14%

Draft of the state budget-2020, updated by Georgian government to take impact of COVID-19 pandemic into account, envisages revenues of 10.21 billion lari. If compared with initially approved target, the volume has decreased by 1.01 billion lari (by 9%).




FINANCING OF THE MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE DECREASES BY 251.3M LARI

According to the draft of updated Georgia’s state budget-2020, financing of the Ministry of Regional Development and Infrastructure decreases by 251.3 million lari. Cut of operating costs makes up 16.7 million lari, while of capital expenses – 234.6 million lari.




ECONOMY AND SUSTAINABLE DEVELOPMENT MINISTRY’S ALLOCATIONS DECREASE BY 26.6M LARI, BUT 485M LARI ARE ADDED FOR MEASURES AGAINST PANDEMIC

According to the draft of updated Georgia’s state budget-2020, allocations of the Ministry of Economy and Sustainable Development, without actions against COVID-19 pandemic, decrease by 26.6 million lari.

That includes cut of operating costs by 41.4 million lari.




ENVIRONMENTAL PROTECTION AND AGRICULTURE MINISTRY’S ALLOCATIONS DECREASE BY 15.1M LARI, BUT 139M LARI ARE ADDED FOR MEASURES AGAINST PANDEMIC

According to the draft of updated Georgia’s state budget-2020, allocations of the Ministry of Environmental Protection and Agriculture, without actions against COVID-19 pandemic, decrease by 15.1 million lari.

That includes cut of operating costs by 9.9 million lari and of capital expenses – by 5.3 million lari.




TBILISI MAYOR: WE WILL DIRECT TRANSFER FROM THE CENTRAL BUDGET TO ACQUISITION OF MINIBUSES

Tbilisi Mayor Kakha Kaladze said that in situation because of COVID-19 pandemic, “we had to suspend projects temporarily and to redistribute priorities”. “However, that does not mean that these projects will not be carried out – they just will be postponed in time”, he declared at the capital government meeting today.




REHABILITATION OF POWER CABLES AND VENT SYSTEMS IN TBILISI SUBWAY CONTINUES

At the meeting of Georgian capital government today, the Mayor Kakha Kaladze reported about course of rehabilitation of power cables and ventilation systems in Tbilisi subway, which is conducted by consortium of Turkish companies Dogus and Elsitel.

As the City Hall reported, the project worth $15 million is implemented through funds, allocated by Asian Development Bank (ADB) to Georgian Municipal Development Fund.