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Daily News

September 10, 2020

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politics

    PRIME MINISTER: ACTUALLY, THE SECOND WAVE OF THE VIRUS BEGINS

    “We assumed the second wave [of COVID-19] in the autumn, and this process actually begins”, Georgia’s Prime Minister Giorgi Gakharia declared. He assured however that “there are no reasons for panic, as we fully control the situation”.


    ECONOMY MINISTER: REPORT OF US STATE DEPARTMENT PROVIDES VERY POSITIVE ESTIMATIONS ON GEORGIA

    Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared that report, released by US State Department, “makes very positive estimations on Georgia”.

    The Minister said that the report, which concerns investment environment in Georgia, “is absolutely objective”.


economics

    IN Q2, NEGATIVE SHOWING OF FDI MADE UP $35.3M

    Sakstat released estimation, according to which negative showing of foreign direct investments (FDI) in Georgia made up $35.3 million in the 2nd quarter. Similar indicator for the same period of last year made up $55.8 million (respectively, year-on-year reduction makes up 36.7%).


    ANOTHER MISSION OF THE IMF TO WORK IN GEORGIA VIRTUALLY

    Mission of the IMF started its work in Georgia, Georgian Finance Ministry reported. The Ministry noted that because of COVID-19 pandemic, the mission under leadership of Mercedes Vera-Martin will work in virtual mode.


    NBG SOLD $40M

    National Bank of Georgia (NBG) declared about sale of $40 million at the currency auction today. Average weighted exchange rate made up 3.0975 GEL/USD.


    GLOBAL BUSINESS ACCELERATOR LAUNCHED INTENSIVE ACCELERATION PROGRAM FOR STARTUPS IN TBILISI

    Global business accelerator 500 Startups implements intensive acceleration program for selected startups in Tbilisi, Georgian Ministry of Economy and Sustainable Development reported. The program, launched on September 7, will last until October 16.


business

    AS OF JUNE 30, NUMBER OF MOBILE COMMUNICATIONS’ USERS INCREASED BY 3.2% Y-O-Y, WHILE INCOME OF THE SPHERE DECREASED BY 1.5%

    Georgian National Communication Commission reported that as of June 30, number of mobile communications’ users totaled in the country to 4.78 million. If compared with the same period of 2019, the number has increased by 3.2%.


    AS OF JUNE 30, PROFIT OF “ARDI” DECREASED 4.5 TIMES Y-O-Y

    Ardi reported net profit of 23,958 lari for the first half of the year. According to report of this Georgian insurance company, the volume has decreased 4.5 times year-on-year.


    AS OF JUNE 30, PROFIT OF “INSURANCE GROUP OF GEORGIA” INCREASED 2.6 TIMES Y-O-Y

    Insurance Group of Georgia reported net profit of 875,333 lari for the first half of the year. According to report of the company, the volume has increased 2.6 times year-on-year.


society

    “GREEN ALTERNATIVE”: “NENSKRAHES” PROJECT DOES NOT CONFORM TO INTERNATIONAL STANDARDS

    After 2-year investigation, mechanism of complaints of EBRD and European Investment Bank (EIB) recognized project of construction of NenskraHES (in mountainous Svaneti region) as not conforming to international standards, Georgian environmental organization Green Alternative reported.

    The project violates safety policy and standards of the mentioned financial institutions, the organization noted.


    NBG LAUNCHED NEW EDUCATIONAL PLATFORM

    Within national strategy of financial education, National Bank of Georgia (NBG) presented new educational platform (finedu.gov.ge).

    The platform combines necessary information on financial education, including useful advises, calculators, publications, brochures, topical guides, and features also blog, reports NBG.


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Exchange Rates (NBG)
  09/21/20 + / -
  USD   3.2295   0.0155
  EUR   3.8050   0.0007
  RUR   4.2349   0.0468
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