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Daily News

February 17, 2021

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economics

    REGIONAL DEVELOPMENT AND INFRASTRUCTURE MINISTER: THE MINISTRY’S BUDGET FOR 2020 WAS EXECUTED BY 121%

    Despite the COVID-19 pandemic, “The Ministry’s budget for 2020 is executed with an excess again – by 121%”, said Georgia’s Minister of Regional Development and Infrastructure Maia Tskitishvili, while speaking today within the Minister’s Hour in the country’s Parliament.

    As the Minister noted, “There is no longer the so-called “problem of non-mastering”” of budget funds.


    MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: WITHIN PRIVATIZATION PLAN, IT IS PLANNED TO REFORM STATE WATER SUPPLY COMPANY

    “Within the framework of reform and privatization plan for state-owned enterprises, announced by the government, it is planned to reform the state water supply company, existing in the Ministry’s system and to attract private investments”, Georgia’s Minister of Regional Development and Infrastructure Maia Tskitishvili declared, while speaking today within the Minister’s Hour in the country’s Parliament.

    The matter concerns Georgian United Water Supply Company, which serves consumers in regions of the country.


    IN Q4 2020, CREDITS OF MICROFINANCE ORGANIZATIONS INCREASED BY 4.9% Y-O-Y

    National Bank of Georgia reported that 40 microfinance organizations, operating in the country, issued loans of 1.2 billion lari in the 4th quarter of 2020. If compared with the same period of 2019, the volume has increased by 4.9%.


business

    “VTB BANK GEORGIA” FINISHED 2020 WITH LOSS

    VTB Bank Georgia reported loss of 14.8 million lari for 2020. According to quarterly report of the bank, it had profit of 13.7 million lari in 2019.


    IN 2020, PROFIT OF “BASISBANK” REDUCED 4.2 TIMES

    Basisbank reported net profit of 5.97 million lari for 2020. According to quarterly report of the bank, the volume has reduced 4.2 times, if compared with 2019.


    “CARTU BANK” FINISHED 2020 WITH LOSS

    Cartu Bank reported loss of 24.8 million lari for 2020. According to quarterly report of the bank, it had profit of 22.4 million lari in 2019.


    “TERABANK” FINISHED 2020 WITH LOSS

    Terabank reported loss of 13.8 million lari for 2020. According to quarterly report of the bank, it had profit of 20.2 million lari in 2019.


    “ALFA PET” EXPANDED PRODUCTION WITH ASSISTANCE OF “PRODUCE IN GEORGIA” STATE PROGRAM

    Georgian Ministry of Economy and Sustainable Development reported that using assistance of the state program “Produce in Georgia”, LLC Alfa Pet has expanded its production.

    The Ministry noted that Alfa Pet, which produces semi-finished plastic bottles, uses industrial component of the program since 2018.


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