Daily News June 11, 2020	Days:  09 10 11 12 15

politics

PRIME MINISTER: IN FIGHT AGAINST COVID-19, GEORGIA WILL ASSIST ARMENIA FIRST OF ALL WITH MEDICAL STAFF

Georgia’s Prime Minister Giorgi Gakharia noted that situation in connection with COVID-19 in Armenia “became quite tense recently”.

As the Premier indicated, Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare andSocial Protection “is assigned to prepare that assistance, which Georgia could provide to the neighboring Armenia”.




IN GEORGIA, RELEVANT DEPARTMENTS ARE ASSIGNED TO EXPAND TESTING ON COVID-19

Georgia’s Prime Minister Giorgi Gakharia declared that against the background of epidemiological risks, increased in parallel with re-opening of economy, relevant departments are assigned to expand testing on COVID-19.

The Premier urged all citizens, at emergence of increased temperature, cough, breath complications and other respiratory symptoms, to apply to emergency service “112” or family doctor in order to pass PCR test.

economics

DEBT OF THE GOVERNMENT IS EXPECTED TO REACH 54.4% OF GDP BY THE END OF 2020

Georgian government reported that its debt is expected to reach 54.4% of GDP by the end of 2020. In particular, external debt is expected to make up 42.5% of GDP, while domestic debt – 11.9%.




IN Q1, ALMOST HALF OF TOTAL NEGATIVE SHOWING OF FDI IN GEORGIA WAS SHARE OF THE VIRGIN ISLANDS

Sakstat released estimation, according to which negative showing of foreign direct investments (FDI) in Georgia totaled in the 1^st quarter to $79.8 million, decreasing year-on-year 2.1 times.

In total volume, large part ($38.9 million, 48.7% of total) accounted for the Virgin Islands.




IN Q1, FDI VOLUME IN TBILISI REDUCED BY 44.5% Y-O-Y

Sakstat released estimation, according to which in total foreign direct investments (FDI) in Georgia for the 1^st quarter, Tbilisi accounted for 70%, or $116.2 million. If compared with the same period of 2019, the volume has decreased by 44.5%.




COMPETITION AGENCY: NO RISKS OF COMPETITION LEGISLATION’S VIOLATION REVEALED ON CASCO MARKET

Georgian Competition Agency declared that no risks of violation of competition legislation were revealed on the local market of car insurance (CASCO).

At that, the research (covered period of 2015-2019) established that the market of car insurance is characterized by high barriers for entry, operating and leaving the market, the Agency specifies.




IN 2019, INCOME FROM FIXED BROADBAND INTERNET SERVICES INCREASED BY 17.1% WHEREAS GDP GROWTH MADE UP 5.1%

The annual report, released recently by Georgian National Communication Commission, indicates that against the background of Georgia’s real GDP growth of 5.1% in 2019, income of the country’s telecom operators from fixed broadband services increased by 17.1%.

As the Commission explained to Sarke, such rate of income growth was caused by growth of number of subscribers and so-called “repackaging” (carried out by large market players in the first half of 2019 – the companies raised speed of Internet access and, respectively, price of most popular packages).

business

IN 2019, TOTAL OUTGOING MOBILE VOICE TRAFFIC INCREASED BY 0.4%

The annual report, released recently by Georgian National Communication Commission, indicates that total outgoing mobile voice traffic in 2019 made up 9.9 billion min. If compared with 2019, the volume has increased by 0.4%.

society

IN Q1, NUMBER OF CUSTOMER COMPLAINTS AGAINST COMMERCIAL BANKS INCREASED, WHILE AGAINST MICROFINANCIAL ORGANIZATIONS – DECREASED

National Bank of Georgia reported that number of complaints, filed by customers against of Georgian commercial banks, totaled in the 1^st quarter to 4,894. If compared with the same period of 2019, the number has increased 2.5 times.