Banking Sector According to I - III Quarters, 2016
Analysis of January - November 2016, compared to the corresponding period in 2015: Net profit of commercial banks increased by 25.1% (114 mln GEL) and amounted to 567 mln GEL; the volume of deposits increased (9.4%), as did the volume of loans (7.9%) (adjusted for exchange rate); the proportion for which construction (by 2.8 percentage points), financial intermediation (2.5 percentage points) and hotels and restaurants (3.0 percentage points) were responsible for total loans increased; the volume of non-performing loans increased by 9.5% which is mostly due to depreciation of GEL exchange rate.
Analyses of Construction Sector: I - III Quarters, 2016
According to the first three-quarters of 2016, compared to the corresponding period of 2015: The volume of production in the construction sector increased by 41.2% and reached 4.2 bln GEL; foreign direct investment (FDI) in construction increased by 21.8% and reached US$106 bln; the number of people employed in the construction sector increased by 3.1% and amounted to 60.1 thousands of people; the average monthly remuneration of employees in the sector is 1,415 GEL.
What are the Challenges in Georgia-Armenia Trade Relations?
Armenia’s decision to join the Eurasian Economic Union (EEU) exempted traders from union member countries from paying value added tax (VAT) and excise tax, thus putting Georgian traders in a disadvantaged position and breaking the main principles of the Free Trade Agreement between Georgia and Armenia.
What are Average Monthly Remuneration of Employees in 2016, I-II Quarters?
In the first half of 2016, compared to the corresponding period of 2015: Average monthly remuneration of employees increased by 5.4%; the highest growth in average monthly remuneration of employees was recorded in construction (12.9%) and fishing (22.7%); the highest paid sector is still financial services but the wages in public administration remain high compared to the average monthly remuneration across the board.
Challenges and Opportunities for Renewable Energy Directive Transposition
The importance and use of renewable energy sources (RES) has been rising in recent years on a global scale. This tendency is expected to continue in the future because on the one hand energy is very crucial for our everyday life, economic growth and development of the country and on another hand countries has to be committed to take actions for an environmentally acceptable and sustainable development path.