CANDIDATE FOR THE POST OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE MINISTER: BECAUSE OF PANDEMIC, CERTAIN PROJECTS WILL BE REDISTRIBUTED IN TIME
Because of COVID-19 pandemic, the Ministry “had to revise plans and to redistribute certain projects in time”, the candidate for a post of Georgian Minister of Regional Development and Infrastructure Maia Tskitishvili declared at committee hearing in the country’s Parliament today. “However, we did not stop large infrastructure projects even in case of the first wave of tight restrictions”, she noted.
CANDIDATE FOR THE POST OF FINANCE MINISTER: IN NEXT YEARS, INTRODUCTION OF AUTOMATIC VERIFICATION OF DECLARATIONS ON ALL MAIN TAXES IS PLANNED
“In the next years, introduction of system of automatic verification of declarations on all main taxes is planned”, the candidate for a post of Georgian Finance Minister Ivane Machavariani declared at committee hearing in the country’s Parliament today. He noted that this system is already introduced for VAT declarations.
CANDIDATE FOR THE POST OF FINANCE MINISTER: AMONG MEDIUM-TERM CHALLENGES, THERE ARE REDUCTION OF THE GOVERNMENT’S DEBT AND BUDGET DEFICIT
The candidate for a post of Georgian Finance Minister Ivane Machavariani indicated reduction of the government’s debt and budget deficit (to 3% of GDP) and preservation of capital expenses at the level of 8% of GDP among medium-term challenges of the country.
Besides, for assistance to economic development, efficiency of tax administration, minimization of fiscal risks, complex reform of state enterprises, minimization of shadow economy are also necessary, specifies Machavariani.
ECONOMY MINISTRY: GEORGIA WILL RECEIVE 200M CUBIC M OF SO-CALLED SOCIAL GAS FROM AZERBAIJAN BY DECREASED TARIFF
Georgia will receive from Azerbaijan 200 million cubic m of so-called social gas by decreased tariff, Georgian Ministry of Economy and Sustainable Development declared.
That will allow Georgian government “to keep price stability on natural gas for the population for the longer time”, the Ministry pointed.
ALMOST ALL ELECTRIC POWER TRANSMISSION AND DISPATCHING TARIFFS FOR 2021-2025 ARE RAISED
Georgian National Energy and Water Supply Regulating Commission set on December 18 tariffs for electric power transmission and dispatching for 2021-2015.
In particular, electric power transmission tariff for Georgian State Electrosystem for 2021-2023 makes up 1.381 tetri/kWh, while for 2024-2025 – 1.462 tetri/kWh, against of current tariff of 1.013 tetri/kWh.
IMF APPROVED ALLOCATION OF $113.9M TO GEORGIA
Council of executive directors of the IMF finished on December 17 the 7th review of economic reforms’ program in Georgia. As a result, the council approved allocation of $113.9 million (79 million SDR) to Georgia.
THE EU ALLOCATED ADDITIONAL 55M EUR FOR GEORGIAN AGRICULTURE DEVELOPMENT
Within the 4th phase of the European Neighborhood Program for Agriculture and Rural Development (ENPARD), Georgia will get 55 million EUR, the EU representation in Georgia reported. Respective agreement was signed on December 17.
TARIFF OF “ENGURHES” RISES BY 36.7%
Georgian National Energy and Water Supply Regulating Commission set on December 17 tariffs for electric power generation (hydroelectric and heat stations). New tariffs will enter in force on January 1, 2021.
“SAKARTVELOS BANKI” ATTRACTED 25M EUR FROM EIB
Sakartvelos Banki (Bank of Georgia) declared about attraction of credit resource of 25 million EUR from the European Investment Bank (EIB).
The 7-year resource represents a top-up on loan of 50 million EUR, signed by Sakartvelos Banki with EIB at the end of last year.
EBRD ALLOCATED 6M EUR TO “TBC LEASING”
EBRD declared about approval of allocation of 6 million EUR to Georgian TBC Leasing. This resource will be used to finance lessees from local small and medium enterprises, EBRD said.
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