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Daily News

April 12, 2018

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politics

    GEORGIAN FIRST VICE-PREMIER: BY MEANS OF IMF PROGRAM, WE REGAINED TRUST OF INTERNATIONAL FINANCIAL INSTITUTIONS

    Georgia’s First Deputy Premier and Minister of Economy and Sustainable Development Dimitri Kumsishvili declared that by means of the program, launched together with the IMF, “we found and regained trust of international financial institutions, which is very important” for attraction of investments to the country.

    Kumsishvili said this after the meeting with director of the Middle East and Central Asia department of IMF Jihad Azour.


    SHALVA TADUMADZE TO HEAD ADMINISTRATION OF THE GOVERNMENT

    Administration of Georgian government will be headed by Shalva Tadumadze, Prime Minister Giorgi Kvirikashvili declared at the government meeting today.

    Tadumadze, 40, graduated in 1998 from law department of Humanitarian Institute and in 2001 – from mining-and-geological faculty of Georgian Technical University.


economics

    IN 2017, NEGATIVE SHOWING OF PORTFOLIO INVESTMENTS IS RECORDED

    National Bank of Georgia reported that there was negative indicator of portfolio investments in Georgia in 2017, which volume made up $71 million. In respect GDP, this volume makes up 0.5%.


    AS OF MARCH 31, INTERNATIONAL RESERVES OF NBG INCREASED BY 6.6% Y-O-Y

    National Bank of Georgia (NBG) reported that its official reserve assets amounted as of March 31 to $3.02 billion. If compared with the same period of 2017, the volume has increased by 6.6%.


    IN Q1, IMPORT OF OIL-PRODUCTS INCREASED BY 27.6% Y-O-Y

    In the 1st quarter, Georgia imported 242,500 t of oil products (gasoline and diesel fuel), Union of Oil-Products Importers reported. This volume by 27.6% exceeds an indicator of the same period of last year.


    IN Q1, INCOME FROM TOURISM MADE UP $561M

    National Bank of Georgia (NBG) reported that income from tourism for the 1st quarter made up $561 million.

    That includes income of $159 million in January (year-on-year growth – 24.5%), $165 million – in February (growth – 29.8%) and $237 million – in March (growth – 31.3%).


    “COLLIERS INTERNATIONAL GEORGIA”: IT IS EXPECTED THAT 6,754 NEW HOTEL ROOMS WILL BE ADDED IN GEORGIA BY 2021

    Colliers International Georgia reported that Georgia had “approximately” 27,333 hotel rooms in 2017. The company expects that total supply will increase by 6,754 new rooms by 2021.


    FOR THE NEW STATE PROGRAM “YOUNG ENTREPRENEUR” 10M LARI ARE ALLOCATED

    Today, presentation of the new state program “Young Entrepreneur” was held.

    As the government said, the program envisages financing with grants, totaling to 10 million lari, of young beginner farmers and manufacturers of non-agricultural production.


business

    “ELLINAIR” TO LAUNCH REGULAR FLIGHTS TO TBILISI

    Greek air company EllinAir will start regular flights to Tbilisi in May, Georgian Ministry of Economy and Sustainable Development reported. Flights will be conducted by Airbus-320 and Boeing-737 planes.


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