Daily News May 28, 2020	Days:  25 27 28 29 01

economics

PRIME MINISTER: OPERATIONAL AND CAPITAL EXPENDITURE WILL BE CUT BY 600M LARI

Georgia’s Prime Minister Giorgi Gakharia declared that because of restrictions, imposed within fight with COVID-19 pandemic, the state would receive budgetary revenues by about 1.8 billion lari less than the planned volume.

Because of this, we will cut expenditures by 600 million lari, the Premier said, while reporting on May 27 to the Parliament.




THE GOVERNMENT TO SUBSIDIZE INTEREST RATES AND TO ISSUE GUARANTEE FOR MORTGAGE LOANS

Anti-crisis plan for development sector, drawn up by Georgian government, envisages 5 years of state subsidizing of 4% out of interest rate for mortgage loans.

The subsidy will be provided on credits of up to 200,000 lari.




PRIME MINISTER: IN THE CONDITIONS OF PANDEMIC, 65,000 COMPANIES CONTINUED OPERATION IN THE COUNTRY

Georgia’s Prime Minister Giorgi Gakharia said that during state of emergency, imposed in Georgia because of COVID-19 pandemic (from March 21 until May 22), not a single agricultural enterprise, system infrastructure project, or system industrial company were stopped. “In the country, 65,000 companies continued operation that makes up tens of thousands of jobs”, he specified.




PRIME MINISTER: HEALTHCARE SYSTEM CAN EFFECTIVELY OPERATE SEVERAL HUNDREDS OF INFECTED PATIENTS

“Today, we can say that the healthcare system can effectively operate several hundreds of infected [patients]”, Georgia’s Prime Minister Giorgi Gakharia indicated.

According to the Premier, in the conditions of COVID-19 pandemic, there was not a single infected person in Georgia, who did not receive treatment in hospital.




NBG: INITIALLY, ONLY BANKS PARTICIPATE IN TRADES ON “BMATCH” PLATFORM OF “BLOOMBERG”, BUT PARTICIPATION OF COMPANIES WILL BE ALSO POSSIBLE LATER

National Bank of Georgia (NBG) indicted that only commercial banks participate at the 1^st stage in forex trades on BMatch platform of Bloomberg. However, it is expected that later companies will take part too, NBG declared.

business

LICENSE ON OPERATION OF THE POWER MARKET IS ISSUED TO GEORGIAN ENERGY EXCHANGE

Georgian National Energy and Water Regulating Commission decided today to issue license for operation of the electric power market to Georgian Power Exchange.

According to the license conditions, the Exchange ensures organization of daily and day ahead markets of electric power, trade with electric power on domestic market, as well as communication and integration with neighboring organized markets.




IN Q1, RETAIL INCOME OF MOBILE OPERATORS INCREASED BY 5.7% Y-O-Y, NUMBERS OF SUBSCRIBERS – BY 0.2%

Georgian National Communication Commission reported that retail income of Georgian mobile operators amounted in the 1^st quarter to 120.3 million lari. If compared with the same period of 2019, the volume has increased by 5.7%.

society

IN Q1, NUMBER OF GEORGIANS’ DEPARTURES ABROAD DECREASED BY 8.5% Y-O-Y

Sakstat reported that 619,900 departures of Georgian resident travelers abroad were recorded in the 1^st quarter. If compared with the same period of 2019, the number has decreased by 8.5%.