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Daily News

November 18, 2022

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politics

    GEORGIAN PREMIER: NO ONE DISPUTES ANYWHERE THAT GEORGIA OUTPACES UKRAINE AND MOLDOVA BY 10 HEADS IN ALL DIRECTIONS

    “No one disputes anywhere, nor in the EU” that “Georgia, we can say, outpaces Ukraine, Moldova by 10 heads in all directions”, declared Georgia’s Prime Minister Irakli Garibashvili, speaking in the Georgian Parliament today. “We have been and are a leading state among the Eastern Partnership countries”, he pointed.


economics

    FINANCE MINISTER: ACCORDING TO PEFA 2022, GEORGIA HAS THE HIGHEST SCORE IN 20 OUT OF 31 INDICATORS

    Georgia has the highest score in 20 out of 31 indicators in the World Bank’s (WB) assessment of Public Expenditure and Financial Accountability (PEFA) for 2022, Georgia’s Finance Minister Lasha Khutsishvili said.

    Georgia has relatively low scores in only 3 indicators, he noted, stressing that in 2018, the country had the highest scores in only half of the indicators.


    THE HIGHEST FORECAST FOR GEORGIA’S ECONOMIC GROWTH IN 2023 WAS MADE BY ADB

    Asian Development Bank (ADB) projects relatively high GDP growth in Georgia for 2023 – at the level of 6%.

    Forecasts of the EBRD and Fitch are similar to the forecast of the Georgian government – 5%.


    IN Q3, UNEMPLOYMENT RATE IN GEORGIA DECREASED BY 3.9 PP Y-O-Y

    Sakstat reported that in the 3rd quarter, the unemployment rate in Georgia made up 15.6%. If compared with the same period of 2021, the rate has decreased by 3.9 percentage points (pp).


    AT THE END OF 2023, MAXIMUM AMOUNT OF GEORGIA’S GOVERNMENT DEBT IS PROJECTED AT 38.9% OF GDP, WHILE OF THE STATE DEBT – AT 40.3% OF GDP

    Draft of Georgia’s state budget-2023 sets the maximum amount of the government debt at the end of next year at the level of 31 billion lari, which corresponds to 38.9% of Georgia’s GDP.

    The estimated volume of obligations, assumed under ongoing public-private partnerships, makes up 385 million lari, or 0.5% of GDP.


    STATE AUDIT SERVICE: IN 2023, BALANCE ACCOUNT OF GEORGIA’S STATE BUDGET WILL INCREASE BY 14%

    By the end of 2023, balance account of Georgia’s state budget will grow by 148 million lari (by 14%) and reach 1.2 billion lari, says Georgian State Audit Service in its conclusion on the draft state budget-2023.

    The conclusion specifies that 594 million lari out of this amount are placed in deposit certificates of commercial banks in order to stimulate the economy with a long-term resource, so the free account balance will amount to 609 million lari at the end of 2023.


    PARLIAMENT’S COMMITTEE CHAIRMAN: WORK ON DRAFT LAW “ON TOURISM” HAS BEEN COMPLETED IN FACT

    David Songulashvili, chairman of Georgian Parliament’s Committee on Branch Economy and Economic Policy, declared that work on the draft law “On Tourism” has been completed in fact. “The final coordination of positions is underway”, he pointed.


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