TBILISI, DFWatch — One of the controversial cuts Prime Minister Ivanishvili wants to make in next year’s budget is to reduce funding for Georgia’s National Security Council – which had a central role in protecting the country in the 2008 war – from USD 15 million
Economy
Interest rates will drop, says Bank Association
TBILISI, DFWatch — The president of the Georgian Bank Association says the interest rate on loans will go down.
Zurab Gvasalia said there is already a trend of falling interest rates on loans, but he thinks it is impossible to decrease the rates immediately.
In
Government considers planned new city Lazika
TBILISI, DFWatch — The new government has still not decided whether to implement Saakashvili’s idea of building a completely new city Lazika in Georgia.
The new government have different ideas about the plan to build a city with half a million people on the Black
Georgia continues to increase its foreign trade
TBILISI, DFWatch — New nine month figures from 2012 show a 16 percent increase in foreign trade turnover compared to last year, equal to USD 7 595 million in total.
The numbers do not include informal trade.
According to Georgia’s National Statistics Department
Confusion over Georgia's state financial assets
TBILISI, DFWatch — The outgoing and new government disagree over the size of the state coffers.
Former government members claim that there is more than two billion lari, nearly USD 1.2 billion, in the state coffers.
But new Finance Minister Nodar Khaduri says there
Saakashvili hands over record state coffers
TBILISI, DFWatch — Georgia’s state accounts by are by September 2012 at one of the highest levels during the past few years at more than two billion, nearly USD 1.22 billion.
The state budget for 2013 is 9 billion lari, USD 5.5 billion, which is more than half a billion
High expectations about low prices
TBILISI, DFWatch — One of the largest petrol companies reduced the price of petrol by 8 tetris. A spokesman for the new government believes it is possible to decrease the price by 20 tetris, or about USD 0.13.
This comes soon after the leader of a coalition which won the
Energy gets largest share of investment
TBILISI, DFWatch – The energy sector receives the largest share of direct foreign investments this year.
Investments increased 7 percent in the second quarter of 2012 compared to same period in 2011, and totaled USD 219 million, according to preliminary figures
Ivanishvili sells off his last asset in Russia
TBILISI, DFWatch – Georgia’s richest says he has sold his last assets in Russia. A US fund purchases Stolenskaya Niva for USD 180 million.
Russian media informs that Unikor Company, which manages Bidzina Ivanishvili’s assets, has finished the sale of Russian assets.
SGS to monitor goods across Russia-Georgia border
TBILISI, DFWatch – The Swiss company SGS will monitor the movement of goods on Russian-Georgian border from September 1, 2012.
November 9, 2011, the governments of Georgia and Russia signed a deal which paved the way for Russia’s WTO membership, with Switzerland as