Daily News July 14, 2020	Days:  19 13 14 15 16

politics

ECONOMY MINISTER: WE CONTINUE WORK ON POST-CRISIS PLAN TOGETHER WITH FOREIGN EXPERTS

Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that the country’s government continues work on the post-crisis plan and strategy together with foreign experts.

That “includes very complex actions, both macroeconomic and fiscal, and – most important – in sectoral part”, Turnava pointed.




GEORGIAN GOVERNMENT: FRANCE AND GEORGIA ARE RELIABLE PARTNERS

Today, Georgia’s Prime Minister Giorgi Gakharia held a meeting with French ambassador Diego Colas and congratulated him on French National Day (the anniversary of Storming of the Bastille).

As administration of Georgian government reports, at the meeting positive dynamics of bilateral cooperation was emphasized and was noted that Georgia and France are reliable partners for each other.

economics

IN Q1, GDP EXPRESSED IN DOLLARS DECREASED BY 1.1% Y-O-Y

Sakstat released estimation, according to which Georgia’s GDP, expressed in the US dollars, amounted in the 1^st quarter to $3.78 billion. If compared with the same period of 2019, the volume has decreased by 1.1%.




IN Q1, GROSS NATIONAL INCOME INCREASED BY 7.7% Y-O-Y

Sakstat released estimation, according to which Georgia’s gross national income amounted in the 1^st quarter to 10.6 billion lari. If compared with the same period of 2019, the volume has increased by 7.7%.




IN GDP FOR Q1, TRADE AND REAL ESTATE OPERATIONS ACCOUNTED FOR 26.4%

Sakstat released estimation, according to which 13.5% of Georgia’s GDP in the base prices for the 1^st quarter (9.7 billion lari) accounted for trade (1.3 billion lari, year-on-year growth – 6.6%).

Share of operations with real estate made up 12.9% (1.26 billion lari, growth – 7.7%).




IN Q1, CONSTRUCTION PRICE INDEX DECREASED BY 4.3% Q-O-Q, BUT INCREASED BY 5.1% Y-O-Y

Sakstat reported that Georgia’s construction cost index in the 1^st quarter decreased by 4.3% quarter-on-quarter.

That decrease was caused mainly by decrease by 16.3% of average nominal monthly salary in the construction sphere, Georgian statistics service explained.




RESEARCH OF THE EU AND UNDP: BECAUSE OF COVID-19 PANDEMIC, MORE THAN HALF OF GEORGIAN COMPANIES FROM PACKING MATERIALS SUPPLY CHAIN LOST 50% OF THEIR INCOME

The EU and the UN Development Program (UNDP) published today results of research, which estimates impact of COVID-19 pandemic on business of packing materials supply chain.

The research is based on interviews with representatives of over 500 companies, which were conducted in May.

business

AUDIT OF NBG TO BE CONDUCTED BY “KPMG GEORGIA”, OF STATE AUDIT SERVICE – BY “PWC”

Georgian Parliament reported that external audit of activity of National Bank of Georgia (NBG) for 2020-2021 will be conducted by KPMG Georgia.

Cost of services will make up 240,000 lari that will be completely covered by NBG, the Parliament said.




IN 2019, PROFIT OF “TBC BANK” INCREASED BY 26%

TBC Bank reported net profit of 545.7 million lari for 2019. According to audited report of the bank, the volume has increased by 26% year-on-year.




IN 2019, PROFIT OF “SAKARTVELOS BANKI” INCREASED BY 49.3%

Sakartvelos Banki (Bank of Georgia) reported profit of 512.9 million lari for 2019. According to audited consolidated report of the bank and its subsidiaries, the volume has increased by 49.3% year-on-year.




IN 4 MONTHS, “KARTLI TEXTILES” TO BE LAUNCHED IN RUSTAVI

Today, construction of sewing enterprise Textiles Kartli was started in Rustavi. The enterprise is planned to launch in 4 months, creating thus 3,000 jobs, Georgian government declared.