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Economic Press Monitor

November 10 - 16, 2019

Previous Issues:  Days: < 19 26 02 09 16

 

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economic & politics

    NETGAZETI.GE: “NAME OF KUTAISI TECHNOLOGICAL UNIVERSITY IS OFFICIALLY CHANGED”

    November 12, 2019 - Kutaisi Technological University will be named Kutaisi International University and will be engaged mainly in scientific research, Netgazeti.Ge reports.

    As the article indicates, the university will be financed from the central budget, but will be able also to gain income from students, other organizations, etc.


macroeconomics & budget

    FORBES GEORGIA: “WHAT SHOULD WE EXPECT FROM THE TOUGHENED MONETARY POLICY?”

    November 12, 2019 - Monetary policy rate of National Bank of Georgia (NBG) makes up 8.5% now, being at the highest mark for the last 11 years. Reason of the rate increase became inflation, which was caused to some extent by devaluation of lari against the US dollar, the article reminds.


companies

    BANKEBI DA FINANSEBI: “GEORGIAN STARTUP “INFLUENCE.GE” WILL RECEIVE FINANCING OF 1,300,000 LARI”

    November 12, 2019 - Innovative Georgian startup Influence.Ge will receive financing of 1.3 million lari, the newspaper reports.

    The article indicates that corresponding transaction was signed by Global Startup Fund, which is founded in partnership of Silicon Valley Tbilisi and Israeli Silicon Wadi.


agriculture & food

    BANKEBI DA FINANSEBI: “DIRECTION OF BIOPRODUCTION IS FORGOTTEN”

    November 11, 2019 - Georgia’s strategy of agriculture development for 2021-2027 does not envisage encouragement of bioproduction, the newspaper reports. The article notes that the state forgot about promised program of bioproduction support of 100 million lari.


    BANKEBI DA FINANSEBI: “MAMUKA KHAZARADZE – WE GOT STUCK IN MENTALITY OF MATTOCK AND PLOUGH”

    November 11, 2019 - Founder of public social movement Lelo Mamuka Khazaradze indicates that “we have deplorable situation in agriculture”. “In recent years, the authorities invested 2 billion lari in agriculture”, but as a result, we got decreased share of agriculture in Georgia’s real GDP – crop area decreased by 30%, livestock population – by 3%, while milk production – by 15%, he specifies.


construction

    FORBES GEORGIA: ““TBC” CONTINUES COOPERATION WITH COMPANY “ANAGI” IN THE DIRECTION OF DEVELOPMENT”

    November 11, 2019 - Mortgage center of Georgia’s largest TBC Bank signed a memorandum with Anagi Development, which envisages simplified procedure of apartments’ purchase in Park Home, new residential complex of the company, by clients of the bank, the magazine reports.

    The article specifies that Anagi Development is a new direction of construction company Anagi, which cooperates with the bank since 2011, implementing 11 joint projects for that period.


tourism

    TABULA: “PUTIN’S SANCTIONS AND INCREASED TOURISM FROM THE EUROPEAN UNION – WHAT IS GOING ON IN TOURISM SECTOR”

    November 12, 2019 - In 2016-2018, Georgia was visited by 3.4 million Russian citizens, however since July of this year (when Russia prohibited direct air communication with Georgia), number of Russian visitors decreases by 12.5% on average, Tabula reports.

    In turn, Georgia was visited this year by 441,271 citizens of the EU countries, whose number has increased year-on-year by 25%.


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Exchange Rates (NBG)
  11/12/19 + / -
  USD   2.9618   0.0015
  EUR   3.2645   0.0052
  RUR   4.6247   0.0108
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