Daily News November 29, 2021	Days:  25 26 29 30 01

economics

THIS YEAR, ALLOCATIONS OF HEALTHCARE MINISTRY ARE INCREASING BY 376M LARI

Giorgi Kakauridze, Georgia’s First Deputy Finance Minister, declared that draft amendments to the state budget-2021 envisage growth of allocations of the Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection by 376 million lari. As a result, total allocations will make up 6.47 billion lari.




DRAFT OF NEW GAMBLING REGULATIONS IS PREPARED

At the meeting of Georgian government today, Finance Minister Lasha Khutsishvili presented a draft of new gambling regulations. The draft has been prepared at the legislative level, and the Ministry will already start working with the Parliament to adopt the bill, he said.




PARTNERSHIP FUND WILL BE RENAMED INTO GEORGIAN DEVELOPMENT FUND

Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that Georgian Partnership Fund will be reformed in various directions. The relevant bill has been already shaped and will be presented soon to Georgian government, and then to the Parliament for approval, said the Minister after the government meeting today.




DEPUTY MINISTER EXPLAINED REASON FOR POSTPONEMENT OF FULL-SCALE LAUNCH OF ENERGY EXCHANGE

The Georgian government decided that trades (day-ahead and balance (hourly) ones) will be started on the energy exchange on March 1, 2022 instead of January 1, 2022.

David Tvalabeishvili, Georgia’s Deputy Minister of Economy and Sustainable Development, said that it is advisable to test the trading platform additionally and streamline accounting further, transit the entire system to a 1-hour accounting interval and introduce automatic profiling system.




BIOSPHERE RESERVES ARE PLANNED TO CREATE IN KAKHETI

Georgian Ministry of Environmental Protection and Agriculture reported that it will submit on behalf of the Georgian government the necessary documentation for nomination of reserves to the secretariat of the UNESCO program “Man and the Biosphere”.

The matter concerns creation of 3 biosphere reserves of Alazani River in Akhmeta and Telavi municipalities, as well as a biosphere reserve in Dedoplistskaro municipality (all these municipalities are located in Kakheti region).

business

AS OF SEPTEMBER 30, NUMBER OF FIXED-LINE SUBSCRIBERS DECREASED BY 14.6%

Georgian National Communications Commission reported that as of September 30, there were 296,227 fixed-line subscribers in the country. If compared with the same period of 2020, the number has decreased by 14.6%.




PROFIT OF “VTB BANK GEORGIA” FOR 9 MONTHS EXCEEDED 3.76 TIMES THE VOLUME OF THE SAME PERIOD OF 2019

VTB Bank Georgia reported net profit of 32.7 million lari for the 3^rd quarter. In the same period of 2020, the bank had loss of 21.2 million lari (because of increase of loan loss reserve in response to the pandemic), while in the same period of 2019 (last pre-pandemic year), the bank’s net profit made up 8.7 million lari (respectively, the volume in the reporting period has increased 3.76 times since that).




PROFIT OF “PROCREDIT BANK” FOR 9 MONTHS EXCEEDED 3.6 TIMES THE VOLUME OF THE SAME PERIOD OF 2019

ProCredit Bank reported net profit of 48.05 million lari for the 3^rd quarter. In the same period of 2020, the bank had loss of 6 million lari (because of increase of loan loss reserve in response to the pandemic), while in the same period of 2019 (last pre-pandemic year), the bank’s net profit made up 13.3 million lari (respectively, the volume in the reporting period has increased 3.6 times since that).