Daily News October 21, 2020	Days:  16 20 21 22 23

politics

IDFI: ACCORDING TO WORLDWIDE GOVERNANCE INDICATORS, GEORGIA’S ADVANCE SLOWED DOWN

Referring to the Worldwide Governance Indicators (WGI, the rating of the World Bank, covering 6 directions), Georgian non-governmental Institute for Development of Freedom of Information (IDFI) concludes that “the pace of the county’s development significantly slowed down”.

"According to the latest assessment of the World Bank, Georgia has advanced in the area of Government Effectiveness, however, regress was detected in all of the rest five directions", IDFI specifies.




“TI GEORGIA”: FOR THE LAST 4 YEARS, REFORM OF ANTI-CORRUPTION LEGISLATION PRACTICALLY STOPPED

“The overview of the situation in terms of corruption and anti-corruption policy in Georgia in the past four years makes it clear that the challenges identified during the previous parliamentary cycle (the years 2012-2016) have remained largely unaddressed in this period”, specifies TI Georgia, Georgian branch of Transparency International. At that, reform of anti-corruption legislation has practically stalled, the organization says.




OFFICIAL OPENING OF KUTAISI INTERNATIONAL UNIVERSITY WAS HELD

Today, official opening of Kutaisi International University (KIU) was held. As administration of Georgian government noted, KIU already enrolled first students on 3 English-language programs of a bachelor degree (management, mathematics and computer science).

economics

IN SEPTEMBER, GEORGIA’S EXPORT PRICE INDEX INCREASED BY 8.1% Y-O-Y, IMPORT PRICE INDEX – BY 3.4%

Sakstat released estimation, according to which Georgia’s export price index increased in September by 8.1% year-on-year. At that, month-on-month (i.e. in comparison with August) growth of the index made up 2.2%.




IN 9 MONTHS, GEORGIA’S EXPORT TO THE EU DECREASED BY 16.6% Y-O-Y, TO THE CIS – BY 26.4%

Sakstat released estimation, according to which Georgia’s export to the EU in January-September amounted to $511.8 million (21.3% of Georgia’s total export). If compared with the same period of 2019, the volume has decreased by 16.6%.




IN JANUARY-SEPTEMBER, FOREIGN REMITTANCES TO GEORGIA INCREASED BY 6.2% Y-O-Y

National Bank of Georgia reported that foreign remittances, transferred to Georgia in 9 months of this year, totaled to $1.3 billion. If compared with the same period of 2019, the volume has increased by 6.2%.




IN JANUARY-SEPTEMBER, REMITTANCES FROM GEORGIA ABROAD INCREASED BY 5.3% Y-O-Y

National Bank of Georgia reported that remittances, transferred from Georgia abroad, totaled in 9 months of this year to $176.5 million. If compared with the same period of 2019, the volume has increased by 5.3%.




IN Q3, PROFIT OF GEORGIAN BANKS DECREASED BY 22.4% Y-O-Y

National Bank of Georgia reported that net profit of Georgian commercial banks totaled in the 3^rd quarter to 224.5 million lari. The volume has decreased by 17% quarter-on-quarter and by 22.4% year-on-year.




NBG PRESIDENT: WE BELIEVE THAT FINANCIAL SECTOR WILL BE ABLE TO SUSTAIN NEGATIVE IMPACT OF THE PANDEMIC

The crisis, caused by COVID-19, is not finished yet, "however, we believe what corresponding actions of monetary policy and timely use of macroprudential tools will allow the financial sector to sustain negative impact of the pandemic", president of National Bank of Georgia Koba Gvenetadze stated. Moreover, we believe that the financial sector will be able "to execute an important role in recovery of Georgian economy", he added.




WITHIN THE STATE PROGRAM OF INTERNETIZATION, CONSTRUCTION OF BROADBAND FIBER-OPTIC INFRASTRUCTURE STARTED IN OZURGETI MUNICIPALITY

Within the pilot project of the state program of internetization, construction of broadband fiber-optic infrastructure is started in Ozurgeti municipality of Guria region, Georgian Ministry of Economy and Sustainable Development reported. Expected length of fiber-optic cable will total to 150 km.




BATUMI GOT 8 NEW ELECTROBUSES

Ajara government reported that 8 new electrobuses were procured for Batumi by means of international tender, announced by EBRD.

As the government specified, for procurement of 9.5-m electrobuses, calculated on 70 passengers, 3.78 million EUR was spent.

business

IN JANUARY-SEPTEMBER, 5 SYSTEMS ACCOUNTED FOR 80.5% OF TOTAL FOREIGN REMITTANCES TO GEORGIA

National Bank of Georgia reported that in total volume of foreign remittances, transferred to Georgia in 9 months of this year, share of 5 systems made up 80.5%, or $1.07 billion.

On the first position was RIA, which served 19.6% of total remittances to Georgia.




IN JANUARY-SEPTEMBER, 5 SYSTEMS ACCOUNTED FOR 92.9% OF TOTAL REMITTANCES FROM GEORGIA ABROAD

National Bank of Georgia reported that in total volume of remittances, transferred in 9 months of this year from Georgia abroad, share of 5 systems made up 92.9%, or $163.9 million.

On the first position was Golden Crown, which served 46.8% of total remittances from Georgia.




“M² GROUP” STARTS CONSTRUCTION WORKS ON UNFINISHED OBJECT OF “OLYMPIC STAR” IN TBILISI

Tbilisi City Hall declared that m² Group starts construction works on unfinished object of construction company Olympic Star.

The works will be accomplished in 3 years and up to 400 injured families will receive their apartments after 12 years of expectation, the City Hall pointed.