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Daily News

December 28, 2017

Previous Issues:  Days: < 26 27 28 29 15 > 

 

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politics

    NATIONAL SUBSOIL AGENCY IS CREATED

    Ministry of Economy and Sustainable Development declared about creation of National Subsoil Agency, in form of legal entity of public law under the Ministry.

    As the Ministry noted, creation of the Agency is caused by recent structural changes in the government.


economics

    THE EU ALLOCATES 48.1M EUR IN SUPPORT OF GEORGIA’S REFORMS

    The EU representation in Georgia reported that the EU has transferred non-reimbursable aid of 140 million lari (48.1 million EUR) to Georgia “in acknowledgement of commonly agreed reform progress in 2017 in several sectors: trade and business development, vocational education and employment, agriculture, and integration of internally displaced people (IDPs)”.

    The assistance is allocated also in support of judicial sphere, public administration, public finance management and regional development policy.


    GEORGIA INTRODUCES INTERNATIONAL STANDARDS OF FINANCIAL REPORTING, RELEASED IN 2017

    According to order of chief of Service for Accounting, Reporting and Audit Supervision, international standards of financial reporting, released in 2017, are translated in Georgian and adopted for use.

    The standards are released by International Accounting Standards Board (IASB).


    IN DEVELOPMENT OF GEORGIAN AGRICULTURE, 1.7B LARI TO BE INVESTED IN 2018-2020

    Georgian government adopted national rural development action plan 2018-2020.

    As representation of the UN Development Program (UNDP) reported, the plan with total budget of over 1.7 billion lari, “addresses some of the key challenges identified by the national Rural Development Strategy 2017-2020, and sets 69 measurable targets that will be achieved in the coming three years”.


    AGRICULTURE MINISTRY: IT IS PLANNED TO INVEST 100M LARI IN PROJECT OF HOTHOUSE CLUSTER

    Ministry of Environment Protection and Agriculture reported about plans to invest 100 million lari in the project of a hothouse cluster.

    As a result, cluster model of hothouse of international standards and terminal for freight transportation (at Kopitnari airport, Imereti region) will be created in the country, the Ministry pointed.


business

    CONSUMER ELECTRICITY TARIFFS ARE RAISED

    National Energy and Water Supply Regulating Commission has set new consumer tariffs for TELASI (Tbilisi energy distributor) and EnergoPro Georgia (regional energy distributor). New tariffs will act from January 1, 2018 to December 31, 2020.


    WATER TARIFFS ARE RAISED

    National Energy and Water Supply Regulating Commission has set new tariffs for GWP (Georgian Water&Power, Tbilisi water company), Mtskhetis Tskali (Mtskheta Water) and Rustavis Tskali (Rustavi Water). New tariffs will act from January 1, 2018 to December 31, 2020.


    CHINESE “ZPMC” JOINS “ANAKLIA DEVELOPMENT CONSORTIUM”

    Anaklia Development Consortium declared about signing of preliminary agreement with Chinese ZPMC (Shanghai Zhenhua Heavy Industries Company Limited with head office in Shanghai), under which ZPMC will join the Consortium. ZPMC undertakes investment of at least $50 million in construction of the deep-water port in Anaklia, the Consortium said.


    AS OF SEPTEMBER 30, PREMIUM IN LIABILITY INSURANCE REDUCED BY 26.8% Y-O-Y

    State Service for Insurance Supervision reported that premium, attracted as of September 30 in liability insurance, amounted to 15.34 million lari, decreasing year-on-year by 26.8%. This kind of insurance accounted for 4.4% of total premium, attracted for the period.


    AS OF SEPTEMBER 30, PREMIUM IN CREDIT OBLIGATIONS’ INSURANCE JUMPED ALMOST 54 TIMES Y-O-Y

    State Service for Insurance Supervision reported that premium, attracted as of September 30 in credit obligations’ insurance, amounted to 453,801 lari, increasing year-on-year 53.9 times. This kind of insurance accounted for 0.1% of total premium, attracted for the period.


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