MINISTER OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE CHANGED
Today, Prime Minister Giorgi Kvirikashvili presented candidacy of Maia Tskitishvili for post of the Minister of Regional Development and Infrastructure. Since 2012, Tskitishvili headed administration of the government.
YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION INSISTS ON DISMISSAL OF CHAIRMAN OF ROADS DEPARTMENT
Young Financiers and Businessmen Association considers that resignation of Zurab Alavidze from the office of Minister of Regional Development and Infrastructure is a kind of reaction to those revealed possible violations and assumptions of corruption, with which society got acquainted recently.
The Association specifies: “The matter concerns possible discrepancies, neglect of official duty, bargains with construction companies, extremely high risks of corruption possibility or poor quality of completed and ongoing projects, revealed in Roads Department during chairmanship of current head, Giorgi Seturidze”.
IDFI: THE MOST CLOSED PUBLIC INSTITUTION OF 2017 IS REVENUE SERVICE
Institute for Development of Freedom of Information (IDFI) declared the Finance Ministry’s Revenue Service the most closed public institution of 2017.
IDFI said that 29 inquiries were sent to the Service, all of which remained unanswered.
IN JANUARY-FEBRUARY, GDP GROWTH RATE AVERAGED TO 4.9%
Sakstat estimates that in February 2018, real GDP growth in comparison with the same month of 2017 made up 5.5%, while average growth for January-February – 4.9%.
Ministry of Economy and Sustainable Development indicates that significant real growth in February was recorded in such spheres, as provision of social, personal and other communal services, manufacturing, financial activity and real estate.
DEPUTY ECONOMY MINISTER: IN PARALLEL WITH ECONOMIC GROWTH, RESISTANCE TO SHOCKS GROWS AND EXTERNAL VULNERABILITY DECREASES
In Georgia, “in parallel with high economic growth, resistance to shocks grows and external vulnerability decreases”, Deputy Minister of Economy and Sustainable Development Ekaterina Mikabadze declared. She said that such statement is grounded by positive dynamics of balance of international payments.
IN 2017, GEORGIA’S TOTAL FOREIGN DEBT MADE UP 113.5% OF GDP
National Bank of Georgia (NBG) reported that total foreign debt of the country amounted as of December 31, 2017, to $17.2 billion (44.6 billion lari). This volume corresponds to 113.5% of last year’s GDP.
IN 2017, NEGATIVE BALANCE OF GEORGIA’S INTERNATIONAL PAYMENTS MADE UP 8.7% OF GDP
National Bank of Georgia (NBG) reported that negative balance of international payments amounted in the 4th quarter of 2017 to $530.9 million (1.4 billion lari, i.e. 13% of GDP for the reporting quarter).
Same indicator in annual scale amounted to $1.3 billion, making up 8.7% of GDP.
GEORGIA’S NET INTERNATIONAL INVESTMENT POSITION MADE UP -150.1% OF GDP
National Bank of Georgia (NBG) reported that as of December 31, 2017, net international investment position of Georgia was negative, amounting to $22.8 billion (59 billion lari). This volume corresponds to 150.1% of GDP for 2017, specifies NBG.
“TI GEORGIA”: ALMOST NO INFORMATION IS PUBLISHED ON SUBCONTRACTORS WITHIN STATE PROCUREMENTS
TI Georgia, Georgian branch of Transparency International, declared that against high level of transparency in Georgian system of state procurements, subcontractors remain an exception, on which almost no information is published.
Because of opacity of information, it is difficult to measure frequency, with which problems occur in provision of goods and services by subcontractors, the organization said.
BSTDB VICE-PRESIDENT: WE ARE SATISFIED WITH DYNAMICS OF COOPERATION WITH THE FINANCIAL SECTOR OF GEORGIA
In interview to Sarke, vice-president of the Black Sea Trade and Development Bank (BSTDB) Igor Leshukov estimates the current situation and comments on prospects.
Sarke: How do you estimate the current level of cooperation between BSTDB and Georgia?
Leshukov: In the financial sector, we are satisfied with dynamics of cooperation.
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