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Daily News

December 27, 2017

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politics

    THE PREMIER: GEORGIA’S ULTIMATE GOAL IS THE EU FULL MEMBERSHIP

    Georgia’s Prime Minister Giorgi Kvirikashvili declared that “Georgia’s ultimate goal is full membership in the EU”.

    “For this very reason, we start working according to new agenda, which is called a road map to the EU”, the Premier stated at the government meeting today.


    “WEG”: DESPITE MANY STEPS FORWARD, THERE ARE BARRIERS, WHICH HAMPER THE REGULATING COMMISSION TO OPERATE AS INDEPENDENT BODY

    Analytical center World Experience for Georgia (WEG) indicated that despite many steps forward, there are still barriers, which hamper National Energy and Water Supply Regulating Commission to operate as independent regulator.

    Formally, the Commission is independent in decision-making and is not subordinated to the government or the Energy Ministry, however considerable part of powers, necessary for full-fledged operation, is redistributed on the Ministry, WEG stated.


economics

    GEORGIA’S REAL GDP GROWTH RATE IN Q3 MADE UP 4.4%

    Sakstat released estimation for the 3rd quarter, according to which real GDP in current prices has amounted to 9.94 billion lari. Real GDP growth rate in comparison with the same quarter of 2016 made up 4.4%, while deflator increased by 6.6%.


    IN NOVEMBER, INDUSTRIAL PPI INCREASED BY 14.9% Y-O-Y

    Sakstat reported that industrial producers price index (PPI) in November has increased in comparison with the same month of 2016 (year-on-year) by 14.9%. In comparison with August (quarter-on-quarter), the indicator has increased by 4.3%.


    IN “PAYING TAXES 2018” RATING, GEORGIA IS ON THE 22ND POSITION AMONG 190 COUNTRIES

    “Paying Taxes 2018”, the joint report of the World Bank (WB) and PwC, which compares countries by the ease of complying with tax law, places Georgia on the 22nd place among 190 countries, PwC Georgia reported.

    Georgia’s ranking “is the same as achieved last year”, PwC Georgia said, but noted that the report does not envisage tax reform (“Estonian model”), which is expected to reduce time, which companies need for meeting their tax obligations.


    THE BASEL COMMITTEE CONSIDERS NBG STRESS TESTS AS SUCCESSFUL PRACTICE

    National Bank of Georgia (NBG) reported that the Basel committee for banking supervision has published the document “Supervisory and Bank Stress Testing: Range of Practices”, which summarizes international practice in connection with process of stress testing of banks.

    Among the countries with successful practice (Brazil, Japan, South Korea, Mexico, Turkey, the UK), frame of stress tests of NBG are mentioned too, NBG said.


    THE PREMIER: IN 2017-2020, WE WILL SPEND IN TOTAL OVER 9B LARI FOR COMPONENTS OF ROAD INFRASTRUCTURE AND WATER SUPPLY

    Prime Minister Giorgi Kvirikashvili declared that “in 2017-2020, we will spend in total over 9 billion lari for spatial development’s components of road infrastructures and water supply”.

    The Premier said the mentioned at the government meeting today and noted: “We are a bit ahead of plan this year”.


    THE PREMIER: WE ALMOST COMPLETELY QUIT SUBSIDIZING OF RTVELI

    Prime Minister Giorgi Kvirikashvili declared that “this year, we had for the first time rtveli [vintage], when winegrower farmers and winemakers agreed on the price without intervention of the state”.

    The Premier stated the mentioned at the government meeting today and noted: “We are quitting subsidizing almost completely”.


    THE PREMIER: WE WILL LAUNCH LARGE-SCALE INVENTORY OF FORESTS IN SPRING 2018

    Prime Minister Giorgi Kvirikashvili declared that “we will launch large-scale inventory of forests countrywide in spring of 2018”.

    The Premier said the mentioned at the government meeting today and noted that similar works “were not carried out for the last 20 years”.


business

    NORMATIVE LOSSES IN DRINKING WATER SUPPLY ARE APPROVED

    National Energy and Water Supply Regulating Commission has established volumes of standard losses in systems of drinking water supply.

    At this stage, these losses are defined for 3 companies (GWP (Tbilisi water company), Rustavis Tskali (Rustavi Water) and Mtskhetis Tskali (Mtskheta Water)), while will be defined for other licensees step by step, within the corresponding tariff proceeding, the Commission said.


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