NOMINEE FOR THE POST OF GEORGIA’S FINANCE MINISTER: BY 2028, SHARE OF FOREIGN CURRENCY IN THE DEBT PORTFOLIO WILL BE BELOW 65%
By 2028, share of foreign currency in Georgia’s debt portfolio, according to current forecasts, will be below 65%, Lasha Khutsishvili, nominee for the post of Finance Minister, declared in Parliament today.
Khutsishvili said that in 2025-2028, the debt indicator will be maintained at a safe level, i.e. not more than 40% of GDP.
NBG: UPPER LIMIT OF RESERVE NORM FOR LIABILITIES IN FOREIGN CURRENCY INCREASED BY 5 PERCENTAGE POINTS
The National Bank of Georgia (NBG) reported that its Monetary Policy Committee raised by 5 percentage points the upper limit of the reserve norm for liabilities, denominated in foreign currency.
David Utiashvili, head of the financial stability department of the NBG, indicated that “around September-October, some companies and individuals transferred part of their current accounts from lari to foreign currency”.
NBG: LIMIT FOR NON-HEDGED LOANS IN FOREIGN CURRENCY IS RAISED FROM 400,000 TO 500,000 LARI
The National Bank of Georgia (NBG) reported that its financial stability committee decided today to raise the limit for non-hedged loans in foreign currency from 400,000 to 500,000 lari. The change will enter into force on January 1, 2025.
NOMINEE FOR THE POST OF GEORGIA’S AGRICULTURE MINISTER: UP TO 3B LARI WILL BE ALLOCATED IN THE NEXT 4 YEARS FOR SUPPORT OF AGRICULTURE
“Over the next 4 years, it is planned to allocate financial resources in the amount of up to 3 billion lari to support the agricultural sector”, David Songulashvili, candidate for the post of Georgia’s Minister of Environmental Protection and Agriculture, declared in the country’s Parliament today.
According to Songulashvili, it is expected that by 2028, volume of agribusiness output will reach 24 billion lari, while export of agri-food production – $2.3 billion.
NOMINEE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: SEVERAL IMPORTANT PROGRAMS TO BE LAUNCHED WITHIN CAPITAL MARKET REFORM IN 2025-2028
As part of the capital market reform in 2025-2028, the state agency Produce in Georgia will start several important programs, Levan Davitashvili, candidate for the post of Georgia’s Minister of Economy and Sustainable Development, declared in the country’s Parliament today.
Davitashvili specified that the program will be expanded, which supports emission of debt securities.
NOMINEE FOR THE POST OF GEORGIA’S ECONOMY MINISTER: COMPLETELY NEW, FULL-SCALE ACCELERATION PROGRAM WILL BE LAUNCHED IN 2025
In 2025, a completely new, full-scale acceleration program will be launched, Levan Davitashvili, candidate for the post of Georgia’s Minister of Economy and Sustainable Development, declared in the country’s Parliament today. Under this program, the Innovation and Technology Agency will provide annually training and financing for 160 startups, he said.
DRAFT AMENDMENTS TO GEORGIA’S STATE BUDGET-2024: REVENUES INCREASE BY 5%, ALLOCATIONS – BY 3.6%
Draft amendments to the state budget for 2024, submitted by the Georgian government to the country’s Parliament on November 25, envisage increase of revenues’ plan by 995 million lari (by 5%) to 21.73 billion.
In particular, plan of tax revenues is increased by 5.6% compared to the approved version and amounts to 20.19 billion lari.
0.0521
0.0308
