Daily News June 12, 2020	Days:  10 11 12 15 16

politics

GEORGIA STARTS NEGOTIATIONS WITH JAPAN ON UPDATING OF AGREEMENT ON DOUBLE TAXATION AVOIDANCE

Georgian Finance Ministry reported that Georgia starts negotiations with Japan on updating of agreement “On Avoidance of Double Taxation of Income and Suppression of Tax Dodging and Evasion”. Respective online consultations between the parties took place on June 11.




INDIVIDUALS, VIOLATING DEMAND ON WEARING MASKS IN CLOSED PUBLIC SPACES, TO BE FINED WITH 20 LARI, WHILE LEGAL ENTITIES – WITH 500 LARI

Today, Georgian Parliament adopted (76 votes pro) draft amendments to the Code of Administrative Offenses. The amendments impose fine of 20 lari for private individuals, who violate demand on obligatory wearing masks in closed public spaces.

economics

DRAFT OF UPDATED STATE BUDGET-2020: SOCIAL EXPENSES INCREASE BY 1.04B LARI

In the draft of updated (in order to adjust to impact of COVID-19 pandemic) state budget-2020, Georgian government offers increase of social expenses by 1.04 billion lari. The draft is considered now in Georgian Parliament.




THE GOVERNMENT TO ISSUE SECURITIES OF 1.85B LARI THIS YEAR

Draft of the state budget-2020, updated by Georgian government in order to adjust to impact of COVID-19 pandemic, envisages growth by 650 million lari of funds, to be raised through emission of local securities. As a result, total emission will make 1.85 billion lari.




ALLOCATIONS OF DEFENSE MINISTRY CUT BY 75M LARI, OF INTERIOR MINISTRY – BY 10M LARI

Draft of the state budget-2020, updated by Georgian government in order to adjust to impact of COVID-19 pandemic, envisages cut of allocations of the Defense Ministry by 75 million lari. That cut includes reduction of operating costs by 15 million lari and of capital expenses – by 60 million lari.




ALLOCATIONS OF MINISTRY OF EDUCATION, SCIENCE, CULTURE AND SPORT CUT BY 127.7M LARI

Draft of the state budget-2020, updated by Georgian government in order to adjust to impact of COVID-19 pandemic, envisages cut of allocations of the Ministry of Education, Science, Culture and Sport by 127.7 million lari. That cut includes reduction of operating costs by 89.6 million lari and of capital expenses – by 38.1 million lari.




NBG: INDICATORS OF GEORGIAN BANKS EXCEED TOTAL BASEL REQUIREMENTS FOR ADEQUACY OF CAPITAL

National Bank of Georgia (NBG) reported that as of December 31, 2019, commercial banks’ coefficient of primary capital (calculated within a framework of adequacy of capital) makes up 14.62%, while coefficient of supervisory capital – 19.45%.

Annual report of NBG indicates that these indicators exceed total requirements for adequacy of capital (minimum requirements of the Basel Committee within Pilar-I plus combined buffers and requirements within Pilar-II) by 2.59 and 2.15 percentage points, respectively.




IN 2019, SUBSCRIBER’S AVERAGE MONTHLY EXPENSES ON MOBILE SERVICES INCREASED BY 7.5%

The annual report, released recently by Georgian National Communication Commission, indicates that subscriber’s average monthly expenses on mobile services amounted in 2019 to 8.6 lari. If compared with 2018, the indicator has increased by 7.5%.

business

IN 2019, MOBILE INTERNET TRAFFIC INCREASED BY 39%

The annual report, released recently by Georgian National Communication Commission, indicates that mobile Internet traffic in Georgia totaled in 2019 to 86,000 Tb, increasing by 39% year-on-year. In 2018, same growth made up only 3%.




MOBILE PHONES OF “SAMSUNG” LEAD IN GEORGIA

The annual report, released recently by Georgian National Communication Commission, indicates that in 2019, most popular brand of mobile phones in Georgia was Samsung. Number of this manufacturer’s devices made up 1.9 million (36.2% of the market), increasing year-on-year by 11%.

society

YOUNG LAWYERS ASSOCIATION AND “GREEN ALTERNATIVE” OPPOSE ISSUING OF ENVIRONMENTAL DECISION TO THE PROJECT OF “ONIHES” SERIES

Georgian Young Lawyers Association and environmental organization Green Alternative oppose issuing of environmental decision to JSC Oni Cascade for the project of OniHES series of hydroelectric stations (206.1 MW).

The organizations filed a claim to Tbilisi city court and demanded cancellation of respective order of the Minister of Environmental Protection and Agriculture, issued on March 17.