Economy
GEORGIAN ECONOMY GOT A FROST BITE
GEORGIAN ECONOMY GOT A FROST BITE
11 July, 2013
Georgian economy stood still in May at 0% and the annual growth forecast dropped from targeted 6% to 4-4.5%. Sector pundits believe this is the result of incompetent policy of both the government and the central bank as well as incompetent management of business sector.
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RAILWAY OFFERS ECONOMIC RECONCILIATION
RAILWAY OFFERS ECONOMIC RECONCILIATION
11 July, 2013
The halted railway route connecting Tbilisi to Moscow and Yerevan through Georgian conflicting region of Abkhazia unfolds some kind of economic reconciliation prospects as it may bring apparent economic benefits to all politically contesting parties located along the route.
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CORPORATE INSURANCE STILL HAS A SPACE
CORPORATE INSURANCE STILL HAS A SPACE
04 July, 2013
Despite the large-scale overall state healthcare insurance project, corporate insurance still has a space of development at healthcare market if it focuses on individual packages and new services uncovered by the state insurance.
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GEORGIAN ADVERTISING - STAGNATING BUT DEPOLITICIZED
GEORGIAN ADVERTISING - STAGNATING BUT DEPOLITICIZED
04 July, 2013
Georgian advertising sector became stagnated but depoliticized and more competitive after the power shift, - this is the message Transparency International-Georgia, an non-governmental watchdog sent through its report “The Georgian Advertising Market – Competition at Last?”
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MORE INDEPENDENCE TO GEORGIAN STATISTICS
MORE INDEPENDENCE TO GEORGIAN STATISTICS
04 July, 2013
Eurostat, having implemented Global Assessment of Georgian Statistics System, recommends implementing more reforms so as to make Geostat, Georgian National Statistics Service, independent and free of political influence. To this end the Eurostat finds apt to put Geostat in subordination of one of the governmental structures from administrative point of view as well as make Geostat accountable against the parliament alone. Georgian sector pundits oppose the idea and believe Georgian statistics must be put as far as possible from the state structures.
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WARSAW STOCK EXCHANGE TOUTS GEORGIAN COMPANIES
WARSAW STOCK EXCHANGE TOUTS GEORGIAN COMPANIES
04 July, 2013
A conference on the allocation of Initial Public Offering (IPO) at Warsaw stock exchange was held in Tbilisi on June 27, 2013 to encourage Georgian companies to be listed there. However, attendance of interested Georgian companies was low. The reason is lack of information and proper skills of Georgian business which shuns even local stock exchange.
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TAV GEORGIA IS EXPECTED TO REVISE CONTRACT
TAV GEORGIA IS EXPECTED TO REVISE CONTRACT
04 July, 2013
TAV Georgia, a Turkish-based operator company of Tbilisi and Batumi International Airports, is expected to revise its contract with Georgian administration so as to make it mutually beneficial.
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INSURANCE SECTOR ASKS FOR RESTRUCTURE OF LIABILITIES
INSURANCE SECTOR ASKS FOR RESTRUCTURE OF LIABILITIES
27 June, 2013
Georgian insurance sector asks for restructuring its liabilities and increase of its premiums in the state-supported social health insurance packages to escape the bankruptcy. The independent regulatory body of insurance sector will scrutinize the financial papers of companies and outline recommendations, based on which the authorities will decide whether or not to meet the insurance sector’s appeal.
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Bonuses at Public Service, not Provided by Law
Bonuses at Public Service, not Provided by Law
27 June, 2013
Bonuses disbursed to officials employed at Georgian public service, including the state chancellery, presidential administration, ministries, parliament and other state administration related entities do not fit into the legal framework. The bonus rates are defined at personal discretion of the heads of administrations or departments and significantly exceed the average volume of bonuses adopted in the developed world.
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GEORGIA DEVELOPS TOURISM STRATEGY
GEORGIA DEVELOPS TOURISM STRATEGY
27 June, 2013
Georgia had no official tourism strategy until now. It worked out its development strategy at last and aims to make tourism one of the leading sectors of Georgian economy.
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