Daily News September 26, 2018	Days:  24 25 26 27 28

politics

CHAIRMAN OF THE PARLIAMENT’S COMMITTEE ON ECONOMIC POLICY SPEAKS ABOUT NEED OF LONG-TERM ECONOMIC DEVELOPMENT STRATEGY

Today, chairman of Georgian Parliament’s Committee on Branch Economy and Economic Policy Roman Kakulia met director of USAID mission in Georgia Peter Wiebler.

According to the Committee report, Kakulia discussed with Wiebler prospects of cooperation and asked to select an expert within the USAID program, who will work in cooperation with the Committee and the government of the country on the long-term economic development strategy.




GEORGIAN FINANCE MINISTER AND FRENCH AMBASSADOR DISCUSSED PROSPECTS OF COOPERATION

On September 25, Georgia’s Finance Minister Ivane Machavariani held a meeting with French ambassador in Georgia Pascal Meunier.

As Georgian Finance Ministry said, the parties discussed projects, which are implemented in Georgia with assistance of France, emphasizing at that partnership with French Development Agency (AFD).

economics

ECONOMY MINISTRY: DRAFT BILL OF ENERGY IS PLANNED TO SUBMIT TO THE PARLIAMENT UNTIL END OF THE YEAR

Georgian Ministry of Economy and Sustainable Development declared that draft bill on energy is planned to submit to the Parliament until end of the current year.

Besides, the Ministry said, plans include adoption of draft design of energy market and drafting of bill on renewable energy and action plan in this sphere and bill on energy efficiency and submission of these documents to the government.




ECONOMY MINISTRY: ADB IMPROVED ECONOMIC GROWTH FORECAST FOR GEORGIA

Updated “Asia Development Outlook”, published by Asian Development Bank (ADB), raises the forecast of Georgia’s economic growth for 2018 from 4.5% to 4.9%, Georgian Ministry of Economy and Sustainable Development reported. The forecast for 2019 is also improved from 4.7% to 5%.




GEORGIAN ECONOMY MINISTER: ADB PLANS TO EXPAND INVESTMENT PORTFOLIO IN GEORGIA

Georgia’s Minister of Economy and Sustainable Development Giorgi Kobulia declared that Asian Development Bank (ADB) plans to expand its investment portfolio in Georgia.

As Georgian Ministry said, that expansion was discussed at the meeting of Kobulia with Yesim Elhan-Kayalar, Asian Development Bank (ADB) country director for Georgia.




IFC TO ASSIST DRAFTING OF CODES OF CORPORATE MANAGEMENT FOR PUBLIC ENTERPRISES AND BANKS

International Finance Corporation (IFC, the World Bank Group member) declared that it will assist to drafting of codes of corporate management for public enterprises and banks in Georgia. Respective cooperation agreement was signed between IFC and National Bank of Georgia (NBG) today.




GEORGIAN GOVERNMENT: BUSINESS PHILOSOPHY WITH HIGH ETHICAL STANDARDS WILL BE INTRODUCED

Georgian government declared that the country will introduce business philosophy with high ethical standards.

For that end, document on expression of interest was signed in New York within the visit to the US of Georgian delegation, headed by Prime Minister Mamuka Bakhtadze.

business

AS OF JUNE 30, MEDICAL INSURANCE PREMIUM INCREASED BY 10% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in health (medical) insurance, amounted to 135.3 million lari. If compared with the same period of 2017, the volume has increased by 10%.




AS OF JUNE 30, LIFE INSURANCE PREMIUM INCREASED BY 69.4% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in life insurance, amounted to 19.01 million lari. If compared with the same period of 2017, the volume has increased by 64.9%.




AS OF JUNE 30, ACCIDENT INSURANCE PREMIUM INCREASED BY 21.6% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in accident insurance, amounted to 2.87 million lari. If compared with the same period of 2017, the volume has increased by 21.6%.




“PROGRESS BANK” TO BE TRANSFORMED INTO SOCIETY OF NON-BANKING ACTIVITY

By order of the vice-president of National Bank of Georgia, liquidation of JSC Progress Bank is declared completed. The bank will be transformed into society of non-banking activity, the order says.