Daily News November 25, 2021	Days:  22 24 25 26 29

politics

DEPUTY ECONOMY MINISTER: WE CONFIRM OUR READINESS TO COOPERATE WITH KAZAKHSTAN IN TERMS OF TRANSPORT AND LOGISTICS TIES’ DEVELOPMENT

Guram Guramishvili, Georgia’s Deputy Minister of Economy and Sustainable Development, declared that Georgia confirms its readiness to cooperate with Kazakhstan in order to develop transport and logistics ties. We suggest Kazakhstan to use Georgia’s corridor for cargo transportation much more actively, he said.




PARLIAMENTARY COMMITTEE DISCUSSED WORKING VERSION OF GEORGIA’S NATIONAL INTEGRATED PLAN ON ENERGY AND CLIMATE

Today, Georgian Parliament’s Committee on Branch Economy and Economic Policy hosted a meeting of the scientific advisory council on energy issues.

The Council has heard the working version of Georgia’s national integrated plan on energy and climate, the Parliament reported.




“TI GEORGIA”: MORE AND MORE BUDGET RESOURCES ARE BEING SPENT ON STATE LEGAL ENTITIES AND NON-COMMERCIAL ORGANIZATIONS, WHILE THEIR TRANSPARENCY IS STILL MINIMAL

TI Georgia, Georgian branch of Transparency International, pointed that from year to year, more and more budget resources are being spent on state legal entities of public law and non-entrepreneurial (non-commercial) legal persons, while their transparency and, accordingly, monitoring mechanisms remain minimal.

This gives rise to significant corruption risks, but no effective measures and legislative amendments are being implemented for their management, the organization stated.

economics

INVESTORS’ COUNCIL REVIEWED INVESTMENT ENVIRONMENT IN GEORGIA AND IMPACT OF COVID-19 ON ECONOMY

A regular meeting of the Investors’ Council was held under chairmanship of Prime Minister Irakli Garibashvili in administration of Georgian government today.

As the administration said, the meeting considered investment environment in Georgia, impact of the COVID-19 pandemic on economy, process of vaccination and steps to be taken to attract foreign direct investment.

business

IN 2020, PROFIT OF “WISSOL PETROLEUM GEORGIA” DROPPED 8.7 TIMES

LLC Wissol Petroleum Georgia reported profit of 3.5 million lari for 2020. If compared with 2019, the volume has decreased 8.7 times.




SHOPPING CENTER “EAST POINT” FINISHED 2020 WITH LOSS TOO

LLC CBD Development (Tbilisi shopping center East Point) reported loss of 33.1 million lari for 2020. If compared with 2019, the volume of loss has decreased by 4.5%.




PROFIT OF “LIBERTY BANK” FOR 9 MONTHS EXCEEDED 2.2 TIMES THE VOLUME OF THE SAME PERIOD OF 2019

Liberty Bank reported net profit of 36.3 million lari for the 3^rd quarter. In the same period of 2020, the bank had loss of 17.3 million lari (because of increase of loan loss reserve in response to the pandemic), while in the same period of 2019 (last pre-pandemic year), the bank’s net profit made up 16.2 million lari (respectively, the volume in the reporting period has increased 2.2 times since that).




PROFIT OF “CARTU BANK” FOR 9 MONTHS EXCEEDED BY 20.6% THE VOLUME OF THE SAME PERIOD OF 2019

Cartu Bank reported net profit of 22.98 million lari for the 3^rd quarter. In the same period of 2020, the bank had loss of 30 million lari (because of increase of loan loss reserve in response to the pandemic), while in the same period of 2019 (last pre-pandemic year), the bank’s net profit made up 18.9 million lari (respectively, the volume in the reporting period has increased by 20.6% since that).