Daily News September 29, 2022	Days:  27 28 29 30 03

politics

GEORGIAN PUBLIC REGISTER HAS A NEW HEAD

David Devidze has been appointed as the new chairman of Georgian National Agency of Public Registry.

Since 2009, Devidze has held various positions in the Agency.

economics

NBG BASELINE FORECAST: IN 2022, REAL ESTATE PRICES WILL INCREASE BY 14%

Baseline forecast of National Bank of Georgia (NBG) sees growth of real estate prices, expressed in lari, by 14% in 2022 compared to 2021. In 2023, 17.5% growth is expected.




NBG FORECAST: IN THE SHORT TERM, GEORGIA WILL MAINTAIN RELATIVELY HIGH RENTAL RATE

National Bank of Georgia (NBG) indicates that against the background of the Russia-Ukraine war, the number of migrants to Georgia has increased significantly, causing increase of demand for rental property and, accordingly, the rent fee.

Therefore, NBG expects that in the short term, Georgia will maintain the rental rate at a relatively high level.




NBG INDICATES AT RAPID IMPROVEMENT IN QUALITY OF MORTGAGE LOAN PORTFOLIO

In its recent financial stability report, National Bank of Georgia (NBG) pointed at a decrease in Georgian households’ vulnerability and a rapid improvement in the quality of the mortgage loan portfolio. This was facilitated by enactment of regulation of responsible lending and implementation of de-dollarization measures, NBG declared.




TRAFFIC ON SOME SECTIONS OF HIGHWAY THROUGH RIKOTI PASS TO BE OPENED BEFORE END OF THE YEAR

Traffic on certain sections of the highway through the Rikoti Pass will be opened before end of this year, Georgian Roads Department declared.

Entirely, the project of construction the 4-lane highway with a length of 51.6 km through this pass, connecting eastern and western parts of the country, should be completed by the end of 2023.




GEORGIAN PARLIAMENT CONSIDERS A BILL ON CREATION OF PROTECTED TERRITORY IN RACHA

On September 28, Fiscal Committee of the Georgian Parliament considered and supported the draft law “On Creation and Management of Protected Territory of Racha”.

The matter concerns creation of a national park on an area of 50,800 ha in Racha-Lechkhumi and Kvemo Svaneti region.




MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE DISCUSSED AREAS OF COOPERATION WITH USAID

Otar Shamugia, Georgia’s Minister of Environmental Protection and Agriculture, met today with John Pennell, newly appointed head of the USAID mission in Georgia.

At the meeting, the parties talked about strategic partnership and discussed ongoing and future joint projects, the Ministry reported.




EU TO FUND GEORGIAN NATIONAL COMPETITION AGENCY’S CAPACITY BUILDING

With EU funding, a 2-year Twinning project (cooperation between European and Georgian peer public agencies) has been launched in the Georgian National Competition Agency. The ceremony of the project launch took place today.