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politics
GEORGIAN PREMIER: AFTER END OF RUSSIA-UKRAINE WAR, RESET OF GEORGIA’S RELATIONS WITH THE US WILL BECAME EASIER
I think that the Russia-Ukraine war will end next year, and precisely after end of the war, it will became easier to reset relations with any administration (of the US), Georgia’s Prime Minister Irakli Kobakhidze declared in the air of TV company Imedi. The Premier said that the US is strategic partner of Georgia, and “we are on standby”.
GEORGIAN PREMIER: DEEPENING OF RELATIONS WITH CHINA IS NOT AN ALTERNATIVE TO RELATIONS WITH THE WEST, BUT A COMPLEMENTARY FACTOR
Deepening of political and economic relations with China is not an alternative to deepening of relations with the West, but, rather, is a complementary factor, Georgia’s Prime Minister Irakli Kobakhidze declared in the air of TV company Imedi. As the Premier noted, historically Georgia has always had its mission, it was a connecting mission between the West and the East, between Europe and Asia.
GEORGIAN PREMIER: WE NEED AS QUICK DEVELOPMENT AS POSSIBLE TO CATCH UP WITH EUROPEAN STANDARDS AND SURPASS MINIMUM LEVEL OF EU DEVELOPMENT
We need to develop as quickly as possible in order to catch up with European standards and surpass the minimum level of the EU development, Georgia’s Prime Minister Irakli Kobakhidze declared in the air of TV company Imedi. Achievement of this goal by 2030 is quite realistic, he said, adding that the main thing is to maintain pace of economic growth in the coming years.
GEORGIAN PARLIAMENT’S SPEAKER: PARIS ARBITRATION CONFIRMED THAT THE PROJECT OF ANAKLIA PORT FAILED BECAUSE OF KHAZARADZE-JAPARIDZE, NOT THE STATE
The Paris arbitration confirmed that the project of the deep-water port’s construction in Anaklia was ruined by the company of Khazaradze-Japaridze itself (Anaklia Development Consortium, co-established with the American partner by Georgian TBC, which founders are Mamuka Khazaradze and Badri Japaridze), and the state did not make any contribution to this, speaker of Georgian Parliament Shalva Papuashvili declared at the news briefing today. Due to the failure of the project, Khazaradze demanded $1.5 billion, and the Paris arbitration refused him money, he said.
economics
NBG: MONETARY POLICY RATE REMAINS 8%
National Bank of Georgia (NBG) reported that at the meeting today, its Monetary Policy Committee decided to keep the monetary policy rate (refinancing rate) unchanged. Accordingly, the rate still makes up 8%.
“SOCIETY AND BANKS:” TODAY’S DECISION OF MONETARY POLICY COMMITTEE IS RELATED TO SITUATION CREATED RECENTLY IN GEORGIA
Today’s decision of National Bank of Georgia’s (NBG) Monetary Policy Committee (to keep the monetary policy rate at 8%) is connected with the situation created in Georgia recently, considers organization Society and Banks. Society and Banks indicated that inflationary expectations regarding import have increased relatively, global challenges persist.
IN 6 MONTHS, NUMBER OF CONSTRUCTION PERMITS ISSUED IN GEORGIA INCREASED BY 10.6% Y-O-Y, WHILE PLANNED CONSTRUCTION AREA – BY 35%
In January-June, 5,594 permits were issued in Georgian construction sector, which is 10.6% higher than in the same period of 2023, Sakstat reported (officially declared data). These permits imply construction of 5.39 million square m in total (year-on-year growth of area – 35%).
“SAKSTAT”: IN Q2, 54.3% OF NON-RESIDENT VISITORS WERE VERY PLEASED WITH THEIR VISIT TO GEORGIA
In the 2nd quarter, 54.3% of non-resident visitors were very pleased with the visit to Georgia, Sakstat reported. Besides, 38.4% were satisfied; 6% – neither satisfied nor dissatisfied, 0.9% – dissatisfied, 0.2% – very dissatisfied.
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