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Daily News

March 26, 2020

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politics

    THE GOVERNMENT URGES CITIZENS ONCE AGAIN TO OBSERVE RESTRICTIONS WITHIN STATE OF EMERGENCY

    Today, Georgian government’s interdepartmental coordination council on coronavirus pandemic held its regular meeting.

    The government urged the citizens once again to observe restrictions, which were established by state of emergency, declared in the country, to stay home and to abstain from street walking without urgent need, press service of the government’s administration reported.


economics

    ECONOMY MINISTER: AGAINST THE BACKGROUND OF CORONAVIRUS PANDEMIC AND DEVALUATION OF LARI, NEGATIVE ECONOMIC GROWTH IS NOT EXCLUDED

    Instead of originally forecasted growth of Georgia’s economy by 4-5% in 2020, now against the background of coronavirus pandemic and devaluation of lari, it is not excluded that the growth rate will be within -2-0%.

    According to French embassy, that was declared by Georgia’s Minister of Economy and Sustainable Development Natia Turnava to French ambassador in Georgia Diego Colas, who aimed “to take stock” of economic situation in Georgia.


    ISET ESTIMATES IMPACT OF CORONAVIRUS PANDEMIC ON GEORGIA’S GDP FROM -0.8 TO -5.37 PP, DEPENDING ON DURATION

    International School of Economics at Tbilisi State University (ISET) estimated net effect of crisis, caused by COVID-19 pandemic, on Georgia’s GDP. Overall, 3 scenarios are considered, depending on crisis duration.


    ISET: EXPECTATIONS OF CURRENCY DEPRECIATION WILL AFFECT NEGATIVELY FOREIGN DIRECT INVESTMENTS

    International School of Economics at Tbilisi State University (ISET) forecasts reduction of foreign direct investments (FDI) in Georgia at the background of COVID-19 pandemic. As researchers point, besides the fact that foreign investors prefer to invest in safe assets, expectations of currency depreciation will additionally affect FDI negatively.


    ISET: MEASURES, TAKEN BY THE GOVERNMENT AND PRIVATE BANKS, WILL NOT BE ABLE TO REACH DIRECTLY QUITE BIG GROUP OF THE POPULATION

    Measures against impact of COVID-19 pandemic on Georgia’s economy, adopted by the government as well as private commercial banks, “will not be able to directly reach a sizeable group of the population affected by the shock”, International School of Economics at Tbilisi State University (ISET) declared.

    The matter concerns those unemployed due to COVID-19 threat; those working in the informal sector (e.g., temporary workers, taxi drivers and other self-employed service sector workers); people with low income; or households that much depend on remittances transfers.


    IN Q4 OF 2019, CONSTRUCTION COST INDEX INCREASED BY 2.5% Y-O-Y

    Sakstat declared that construction cost index in the 4th quarter of 2019 has increased year-on-year by 2.5%.

    Growth of the index is caused mainly by growth by 4.2% of nominal salaries in the construction sphere, Georgian statistics service specified.


    REHABILITATION OF AGMASHENEBELI STREET IN LANCHKHUTI TO BE COMPLETED IN THE END OF SUMMER

    Georgian Roads Department reported about rehabilitation, being underway on 1.8-km Agmashenebeli Street in Lanchkhuti (Guria region). Works are planned to be completed at the end of summer.


society

    “HUB GEORGIA” FOUNDER: WE ALL HAVE EQUALLY SHARE CIVIL RESPONSIBILITY AND HELP OUR CITIZENS TO RETURN FROM ABROAD

    “We all have equally share civil responsibility, alleviate burden of the authorities and help our citizens to return from abroad”, founder of non-governmental organization HUB Georgia Giorgi Kodua pointed in his appeal.

    Kodua indicated that additional flights are connected with additional expenses and in spite of many special flights, already made by Georgian government’s efforts, return of citizens home (because of coronavirus pandemic) remains a challenge.


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