Daily News November 26, 2020	Days:  24 25 26 27 30

politics

GEORGIA TOUGHENS AND EXTENDS RESTRICTIONS, INTRODUCED BECAUSE OF COVID-19

Because of worsened epidemiological situation in the country, interdepartmental coordination council, created by Georgian government for fight against COVID-19, decided today to toughen and expand already imposed targeted restrictions.

In particular, countrywide curfew is declared between 21:00 and 05:00 from November 28 to January 31 (except New Year’s night and Christmas Eve), intercity passenger transportations are stopped (except individual cars), while in 8 large cities (Tbilisi, Batumi, Kutaisi, Rustavi, Gori, Poti, Zugdidi, Telavi) – work of public transport.

economics

BECAUSE OF TOUGHENING OF PANDEMIC-CAUSED RESTRICTIONS, ONE MORE PHASE OF SOCIAL ASSISTANCE TO BE LAUNCHED

Georgia’s Prime Minister Giorgi Gakharia reported today about next (fourth) phase of social assistance, which will be launched because of toughening of restrictions, imposed against COVID-19 spread.

“Portfolio of the 4^th phase, in terms of both targeted social and business assistance, will cost the state 1.1 billion lari in total”, the Premier said.




PRIME MINISTER: BUSINESS’ EXEMPTION FROM INCOME TAX EXTENDS FOR 6 MONTHS

We will extend the program of exemption of business from income tax for 6 months, Georgia’s Prime Minister Giorgi Gakharia declared today.

The exemption applies to 750 lari from employee’s salary, if it makes up to 1,500 lari a month.




TOURIST SECTOR TO BE EXEMPTED FROM PROPERTY TAX IN 2021, WHILE RESTAURANTS WOULD USE SUBSIDIZING OF CREDIT INTEREST

Georgia’s Prime Minister Giorgi Gakharia declared today that tourist sector of the country will be exempted in 2021 from property tax. He added that income tax, postponed during 4 months in the current year, will be completely written off to tourist sector too.




ISET FORECAST: GEORGIAN GDP TO DECREASE IN Q4 BY 3.3%

Forecast, released by International School of Economics at Tbilisi State University (ISET), says that Georgia’s real GDP growth in the 4^th quarter will make up negative 3.3%.

Growth forecast for 2020 makes up negative 4.4%, while forecast for the 1^st quarter of 2021 – negative 1.4%.




WITH ASSISTANCE OF AFD, “GEORGIAN STATE ELECTROSYSTEM” ELABORATED 15-YEAR PLAN OF GENERATION DEVELOPMENT

Georgian State Electrosystem presented today draft of 15-year plan of electric generation development (for 2020-2035).

The draft is ultimate result of 2-year project of technical assistance to State Electrosystem, funded by French Development Agency (AFD).




IN AUGUST-NOVEMBER, GEORGIA’S EXPORT OF PERSIMMON INCREASED IN MONETARY EXPRESSION BY 18% Y-O-Y

Georgian Ministry of Environmental Protection and Agriculture reported that 7,824 t of persimmon were exported from August 1 to November 23, totaling in terms of cost to $4.2 million. Year-on-year growth in natural expression made up 14%, while in monetary expression – 18%, the Ministry said.

business

IN 2019, PROFIT OF “RUSTAVI AZOT” DECREASED BY 8.5%

JSC Rustavi Azot reported net profit of 33.5 million lari for 2019. According to report of this Georgian producer of nitrogen fertilizers, the volume has decreased by 8.5% year-on-year.




“RUSTAVIS POLADI” FINISHED 2019 WITH LOSS

LLC Rustavis Poladi (Rustavi Steel) reported loss of 591,529 lari for 2019. According to report of this Georgian steel producer, it had profit of 8.8 million lari in 2018.