FINANCIAL STABILITY COMMITTEE LEFT COUNTER CYCLICAL BUFFER INTACT
National Bank of Georgia (NBG) reported that its Financial Stability Committee decided to leave the counter cyclical buffer without change, making up 0% again. The Committee made this decision at the meeting, which was held on November 27, indicating that Georgian financial system maintains sustainability against potential shocks.
ECONOMY MINISTER: WE WILL OFFER 100 OBJECTS TO BUSINESS FOR PRIVATIZATION
Georgian Ministry of Economy and Sustainable Development declared that on November 29, presentation will be held together with the National Agency of State Property regarding 100 privatization investment offers for business.
As the Minister Natia Turnava stressed, “such number of parallel auctions was never held in Georgia”.
ECONOMY MINISTER: EMPLOYMENT IS MAIN PRIORITY OF OUR GOVERNMENT
“Employment is the main priority of our government”, Georgia’s Minister of Economy and Sustainable Development Natia Turnava declares.
“We everywhere follow a line that our main task is not only acceleration of economic growth, privatization, investment processes, but all that is made for one main goal – to increase employment”, Turnava declared to journalists after the government meeting today.
GEORGIAN SEAFARERS WILL BE ABLE TO FIND JOB ON VESSELS UNDER THE KUWAITI FLAG
Georgian Ministry of Economy and Sustainable Development reported that within session of Assembly of International Maritime Organization (IMO), Georgia signed with Kuwait a memorandum of mutual recognition of seafarer certificates.
As the Ministry noted, there are about 300 vessels, floating under the Kuwaiti flag.
NBG APPROVED NEW PROVISION ON CONCENTRATION OF RISK POSITIONS IN COMMERCIAL BANKS
President of National Bank of Georgia (NBG) issued an order, which approves new provision on concentration of risk positions and large risks in commercial banks. The order, which will enter in force on June 1, 2020, replaces similar order of NBG president, issued in 2014.
IN Q3 TOO, MAJORITY OF VISITS FROM GEORGIA WAS CONDUCTED TO TURKEY AND AZERBAIJAN
Sakstat reported that 699,400 Georgia’s residents departed abroad 1 million times in the 3rd quarter (short-term visits, i.e. for less than one year, are meant). Of these visitors, 61.2% were Georgian tourists.
WITHIN THE PROGRAM OF ECO-CORRIDORS, IN GEORGIA 10 CONSERVATION AGREEMENTS WERE SIGNED
Georgian Ministry of Environmental Protection and Agriculture reported that within Eco-Corridors Fund for the Caucasus (ECF) program of the World Wildlife Fund (WWF), 10 conservation agreements were signed in Georgia. As the Ministry noted, the agreements envisage allocation of 1.15 million EUR.
CONCEPT APPROVED FOR CONSTRUCTION OF NEW WIND POWER PLANT
Georgian Ministry of Economy and Sustainable Development reported that the country’s government approved concept of construction of wind power plant in Imereti region (nearby to villages of Khvani, Chalovani, Nigvzara, Bereti and Kolbouri).
The Deputy Minister David Tvalabeishvili noted that Georgia’s potential of wind energy is estimated approximately at 1,500 MW.