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Daily News

July 20, 2021

Previous Issues:  Days: < 16 19 20 21 22 > 

 

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politics

    PREMIER URGED CITIZENS TO GET VACCINATED, NOTING THAT ECONOMY WILL NOT WITHSTAND ANOTHER LOCKDOWN

    “The vaccines are on the spot, more than required”, said Georgia’s Prime Minister Irakli Garibashvili at the government meeting today. He said that 1.5 million doses are on the spot, while 1.5 million ones are on the way and will arrive within a few weeks.


economics

    UPDATED IMF FORECAST: GEORGIA’S ECONOMIC GROWTH IN 2021 TO BE 7.7%

    IMF mission indicated that recently, Georgia’s economic recovery is underway at “impressive pace”. Monthly estimations for the 2nd quarter indicate rapid growth, as a result of which GDP growth this year will reach 7.7%, the mission said.


    IMF: RESUMPTION OF INTERNAL POLITICAL UNCERTAINTY MIGHT AMPLIFY LARI RATE FLUCTUATIONS AND HINDER INVESTMENT

    IMF mission indicated that resumption of internal political uncertainty in Georgia might amplify fluctuations of lari exchange rate and hinder investment in the country.

    The Mission also pointed that the country’s pace of vaccination against COVID-19 must be increased significantly.


    IMF: IT IS NECESSARY TO TOUGHEN FISCAL FRAMEWORK

    Growing pressure on Georgian budget’s expenditure part and fiscal risks require more fiscal space and toughened fiscal framework in the country, the IMF mission said.

    At that, the mission noted that strengthening of public investment management framework will increase efficiency of capital expenditures and will help to maximize economic growth.


    IMF: IT IS NECESSARY TO MAINTAIN ADEQUATE BUFFERS AND RESERVES IN BANKING SECTOR

    The goal of the financial sector policy in Georgia now, against the background of signs of recovery, should be maintenance of adequate buffers and reserves in the banking sector, the IMF mission said.

    The mission indicated that taking into account the greater than usual uncertainty regarding economic prospects, National Bank of Georgia should urge banks to maintain sufficient retained earnings until decrease of essential risks of economic situation deterioration.


    “SAKSTAT” PLANS TO INTRODUCE SCANNER DATA

    Sakstat reported that from July 2 to July 19, it hosted the IMF mission, which worked in online format.

    As part of the technical assistance mission, detailed recommendations were developed in connection with introduction of scanner data, Georgian statistic service said.


    WITHIN FRAMEWORK OF THE STATE PROGRAM, 61 TENANTS TO GET IN OWNERSHIP THEIR RENTED AGRICULTURAL LAND PLOTS

    Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that within the framework of the state program, agricultural land plots will be handed over in ownership to 61 tenants. These small and medium-sized farmers will receive 240 ha in total, she noted.


business

    OVERHAUL OF FURNACE AT ZESTAPONI FERROALLOY PLANT COST OVER $2M

    Overhaul of the furnace, which lasted 5 months, was completed at Zestaponi ferroalloy plant of Georgian Manganese company. Investments in this project exceeded $2 million, reported Georgian Ministry of Economy and Sustainable Development.


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