Daily News February 17, 2020	Days:  13 14 17 18 19

politics

MUNICIPALITIES TO BE ALLOWED TO ESTABLISH LEGAL ENTITIES OF PUBLIC LAW

Draft amendments to Georgian Code of Local Governance allow municipalities to establish legal entities of public law (LEPL).

The draft was supported in first hearing today at the joint meeting of committees of Georgian Parliament – on Branch Economy and Economic Policy and on Environmental Protection and Natural Resources.

economics

“FITCH” AFFIRMED GEORGIA’S RATING “BB”

Fitch Ratings declared that Georgia’s long-term issuer default rating in foreign currency (LTFC) was affirmed at the level of “BB” with “stable” outlook.

“Georgia’s ratings are supported by governance and business environment indicators that are above the current medians of “BB” category peers, and a track record of macroeconomic resilience against regional shocks”, Fitch explained.




“FITCH” FORECAST: GEORGIA’S ECONOMIC GROWTH IN 2020 WILL BE SLOWED DOWN TO 4.4%

Fitch Ratings expects that Georgia’s economic growth will be slowed down in 2020 to 4.4%, still remaining above the 5-year average growth rate (4.2%) of the country’s peers in category with “BB” rating.

“The slower growth mainly reflects a weaker outlook for domestic demand due to a tighter monetary policy”, the agency explains.




“FITCH” FORECAST: INFLATION IN GEORGIA TO AVERAGE 4.5% IN 2020

Fitch Ratings expects that inflation in Georgia will average 4.5% in 2020 and 3.2% in 2021. At that, the agency “does not envisage headline inflation to converge towards the NBG target of 3% until 2021”.




BILL “ON AQUACULTURE” IS UNDER CONSIDERATION IN THE PARLIAMENT

Georgian Parliament’s Committee on Agrarian Issues considered today in first hearing the bill “On Aquaculture”, submitted as legislative initiative of MPs.

As the Parliament said, the document concerns artificial cultivation of fish and mariculture.

business

CONSTRUCTION OF A FARM IN SAGURAMO COST 3.2M LARI

Georgian Ministry of Environmental Protection and Agriculture reported that farmer Giorgi Berishvili, with financial support of the state, has launched cattle-breeding enterprise Saguramo Farm in Mtskheta municipality (Mtskheta-Mtianeti region), which cost 3.2 million lari.

As the Ministry specified, total cost includes preferential agrocredit of 1.4 million lari and grant of 60,000 lari, issued within the “Young Entrepreneur” state program.

society

GRANT COMPETITION OF 1M LARI IS ANNOUNCED FOR DEVELOPMENT OF YOUTH ORGANIZATIONS IN REGIONS

Georgian Youth Agency, established in August 2019, announced grant competition of 1 million lari, aiming development of youth organizations in regions, Georgian government reported. Applications for the competition are accepted through March 31.




LABOR CONDITIONS ON BUILDING SITES ON RIKOTI PASS TO BE MONITORED

By initiative of Georgian Roads Department, monitoring of working conditions on building sites on Rikoti pass will be carried out, aiming protection of safety of occupied there.

The decision was caused by accident in the village of Ubisa, where roof of workshop collapsed on February 14.