Daily News December 13, 2018	Days:  11 12 13 17 18

politics

NEW MEMBER OF NBG COUNCIL APPROVED

Today, Georgian Parliament approved with 90 votes pro and 2 - contra Papuna Lezhava as new member of council of National Bank of Georgia (NBG).

Lezhava worked for several years on various positions at NBG, while now works in International Finance Corporation (IFC, member of the World Bank group).




STATE AUDIT SERVICE: IT IS ESSENTIAL TO BRING METHODOLOGY OF INFRASTRUCTURE PROJECT MANAGEMENT IN COMPLIANCE WITH IMF CLASSIFICATION

Georgian State Audit Service pointed that methodology of management and reporting of infrastructure projects in the country does not correspond to examples of best practice.

It is essential to bring this methodology in compliance with classification of GFSM (Government Finance Statistics Manual) of the IMF, the Service said.




HOLDING OF BUSINESS CONFERENCE "CHALLENGES OF IRANIAN INVESTORS IN GEORGIA" FAILED

Union of Iranian Investors in Georgia, organizer of business conference "Challenges of Iranian Investors in Georgia", planned today in Tbilisi, declared about its postponement.

As president of the Union Mohammed Haleki specified, the postponement is caused by entry denials for Iranian citizens, which made more frequent recently.

economics

GEORGIA’S BUDGET-2019 APPROVED

Georgian Parliament approved the state budget for 2019 in third (final) hearing by 91 votes pro. Against the budget 9 MPs voted.




IN RECENT DAYS, NBG BOUGHT $25M IN TOTAL

At currency auction on December 12, National Bank of Georgia (NBG) bought $15 million, while on December 10 - $10 million.

On December 10, average weighted rate made up 2.6678 GEL/USD, while on December 12 - 2.6594 GEL/USD.




PACK OF LEGISLATIVE AMENDMENTS INTRODUCES STATUS OF WHOLESALE SUPPLIER OF ELECTRIC POWER

At the plenary session today, Georgian Parliament considered in first reading amendments to law "On Power Industry and Natural Gas".

According to author of the amendments, MP Revaz Arveladze, the amendments introduce status of wholesale supplier of electric power, which provides purchase of electric power and its supply to direct consumers.




AGRICULTURE MINISTRY: IN 2019, PROGRAM ON ASSISTANCE TO ORGANIC PRODUCTION WILL BE LAUNCHED

In 2019, implementation of program on assistance to organic production and certification will begin, Georgian Ministry of Environmental Protection and Agriculture declared. The program will be implemented within unified agroproject.




FMO PLACED BONDS ON GEORGIAN STOCK EXCHANGE

Georgian Stock Exchange reported that bonds of the Netherlands development bank (FMO), denominated in lari, are admitted in the trading system since December 10.

The emission of 5-year bonds with nominal value of 100,000 lari totals to 103 million lari.

business

NEW ENTERPRISE OF THE COMPANY “NOVA” OPENED

Today, the new enterprise of building materials and warehouse facility of LLC Nova was opened in Tbilisi, occupying area of 24,000 square m, Georgian Ministry of Economy and Sustainable Development reported.

The Ministry said that investments in the project amounted up to 12 million lari.

society

AT THIS STAGE, THE WEB SITE ON ZEROING OF OVERDUE CREDITS HAS DATA ON CREDITS, TAKEN FROM 9 BANKS

At this stage, data on credits, taken from 9 banks, are uploaded on the web site on zeroing of distressed loans (vali.ge), Georgian Finance Ministry reported.

At that, data of 3 banks (VTB Bank Georgia, Basisbank and Terabank) were added yesterday and today.