Daily News July 24, 2020	Days:  22 23 24 27 28

politics

THE GOVERNMENT CONTINUES WORK ON ADDITIONAL ANTI-CRISIS MEASURES

The government continues work on additional anti-crisis measures, administration of Georgian government reported. Today, working meeting under Prime Minister’s chair took place in the administration.




LEADER OF “LELO FOR GEORGIA”: THE IMF CONFIRMED THE CATASTROPHIC SITUATION IN STATE ENTERPRISES

The IMF confirmed a catastrophic situation in Georgian state-owned enterprises, one of leaders of opposition movement Lelo for Georgia Gigla Mikautadze declared.

According to Mikautadze, the IMF confirmed also that the state enterprises work not for profit, but only fulfill instructions of the government.

economics

IN JUNE, EXPORT PRICE INDEX INCREASED BY 15.3% Y-O-Y, WHILE IMPORT PRICE INDEX – BY 2.4%

Sakstat released estimation, according to which Georgia’s export price index in June increased by 15.3% year-on-year.

During a year, prices on production of manufacturing industry increased by 12.6%, while in the group of mining industry and barrow excavation – by 41.6%.




IN H1, TRADE TURNOVER WITH TURKEY DECREASED BY 17.6% Y-O-Y

Sakstat released estimation, according to which Turkey was Georgia’s largest trade partner in January-June, accounting for 13.8% of total turnover of the country (i.e., for $697.4 million). If compared with the same period of 2019, the volume has reduced by 17.6%.




IN H1, TRADE TURNOVER WITH RUSSIA DECREASED BY 13.8% Y-O-Y

Sakstat released estimation, according to which Russia was Georgia’s the second largest trade partner (after Turkey) in January-June, accounting for 11.6% of total turnover of the country (i.e., for $584.2 million). If compared with the same period of 2019, the volume has reduced by 13.8%.




IN H1, TRADE TURNOVER WITH CHINA INCREASED BY 9.8% Y-O-Y

Sakstat released estimation, according to which China was Georgia’s the third largest trade partner (after Turkey and Russia) in January-June. This country exchanged placed with Azerbaijan, which was on the mentioned position a year ago.




IN APRIL-JUNE, PROFIT OF COMMERCIAL BANKS INCREASED BY 61% Y-O-Y

National Bank of Georgia reported that net profit of the country’s commercial banks totaled in April-June to 261.07 million lari. If compared with the same period of 2019 (162.2 million lari), the volume has increased by 61%.




HEAD OF “PRODUCE IN GEORGIA” AGENCY: TOGETHER WITH THE WB AND IFC WE PREPARED STRATEGY, WHICH SEEKS PROMOTION OF SPECIFIC INDUSTRIES

Together with the World Bank (WB) and International Finance Corporation (IFC, member of the WB Group), we prepared a strategy, which seeks promotion of specific spheres, declared head of the State Agency Produce in Georgia Mikhail Khidureli. For that end, we had communication with more than 400 companies, he noted.

business

“GEPHERRINI” BECAME FIRST BENEFICIARY OF CREDIT-AND-GUARANTEE SCHEME

Gepherrini (Georgian producer of leather bags, footwear, accessories) became the first beneficiary of the state credit-and-guarantee scheme.

For expansion of production, the company took credit of 150,000 lari, while the state acts as a guarantor of 90% of principal sum, Produce in Georgia Agency reported.