GEORGIAN-KOREAN INTERGOVERNMENTAL ECONOMIC COMMISSION HELD ITS FIRST MEETING
Georgian Ministry of Economy and Sustainable Development reported that Georgian governmental delegation is on a 2-day visit in the Republic of Korea. As the Ministry pointed, within the visit, first meeting of the Georgian-Korean intergovernmental economic commission was held in Korean capital Seoul.
MINISTRY: PRICE OF GEORGIAN WINE IS APPROACHING PRICES OF LEADING WINE-MAKING COUNTRIES
Price of Georgian wine is approaching prices of leading winemaking countries of the world, Georgian Ministry of Environmental Protection and Agriculture declared.
Referring to International Organization of Vine and Wine (OIV), the Ministry reported that average export price of 1 liter of Georgian wine makes up 3.07 EUR.
CONSULTING COUNCIL FOR ASSISTANCE TO PRIVATE SECTOR’S DEVELOPMENT DISCUSSED FACTORS, HAMPERING BUSINESS DEVELOPMENT
Georgian Ministry of Economy and Sustainable Development reported that consulting council for assistance to private sector’s development held its next meeting today.
As the Ministry said, participants of the meeting discussed factors, hampering development of private business.
ISET PI: THERE IS A CONSIDERABLE LACK OF ALL TYPES OF RESOURCES IN THE MOUNTAINS
The article, published in blog of Policy Institute of International School of Economics at Tbilisi State University (ISET PI), indicates that mountains cover 54% of Georgian territory, while residents of mountain regions constitute the most vulnerable group of Georgian society.
Referring to recent study of ISET PI, the article states that “there is a considerable lack of all types of resources in the mountains”.
ECONOMY MINISTRY: PARTNERSHIP FUND DEMANDS FURTHER DEVELOPMENT AS INSTITUTION
Georgia’s Minister of Economy and Sustainable Development Natia Turnava declared that each $1, invested by the state by means of Partnership Fund, led to attraction of investments of $7 that “is a very good result”.
However, “economic is changing, priorities, strategy are changing and, certainly, Partnership Fund, as an institution, demands further development”, the Minister declared.
“FITCH” WITHDREW RATING OF “CARTU” BANK
Fitch Ratings declared that it affirmed long-term issuer default rating (IDR) of Georgian Cartu bank at “B-”, while viability rating (VR) – at “CCC+”.
At that, the agency pointed that it has simultaneously withdrew the rating, explaining the move by “commercial reasons”.
“FITCH” ASSIGNED “TERABANK” “B+” RATING
Fitch Ratings declared that it assigned Georgian Terabank a long-term issuer default rating (IDR) “B+” with “stable” outlook.
The agency said that the rating “reflects the bank’s good financial metrics and reasonable, albeit fairly short, track record of operating under the new strategy of developing SME, micro and retail lending”.
“FITCH RATINGS” AFFIRMED RATING OF “SILKNET” AT “B+”
Fitch Ratings declared that it affirmed rating of Georgian telecom operator SilkNet at the level of “B+” with “stable” outlook.
The agency indicated that expected volume of SilkNet’s EBITDA for 2019 makes up equivalent of $75 million.
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