Georgia Hosts Workshop to Effectively Manage EU Approximation
Public-private dilogue plays crucial role in the process of EU integration. Key stakeholders from Georgia, Moldova and Visegrad countries, such as government agencies, business associations, experts, international organizations and donors (EBRD, EIB, WB, IFC, USAD, EU and others), participated in the event.
Workshop to be Held for Public-Private Dialogue in EU Integration
“Slovakia’s experience proved that Dialog between private and public sector is essential to get the most of benefits of EU economic integration and to provide successful reforms and changes that increase economic growth and convergence.
Recycling, Sorting the First Step to Better Waste Management
Georgia’s trouble with waste management is clear to even casual observers. While it has proven to be a persistent issue for the government, the country’s new waste management code could be a major step forward in efforts to control the problem.
IMF Regional Advisory Board Selects Lekso Aleksishvili as Member
“It is an honor and pleasure to be a part of CCAG at IMF and to have an opportunity to share our experience. Also, it gives us a huge chance to get a closer view of the region and its economy,” said Aleksishvili.
Lekso Aleksishvili Became IMF Regional Advisory Board Member
He has supported several countries such as Georgia, Albania, Mongolia, Kosovo, Mozambique, Afghanistan and Kyrgyzstan helping to enhance their business enabling environments by providing valuable assistance and delivering specialized experience from a transitional country.
PMCG: If the economy will grow less than estimated, tax revenues will be less
Government should take appropriate steps to reduce budget costs and control budget deficit, namely: costs should be reduced in accordance with the reduced tax revenues. If the economy will grow only by 2% and inflation forecast will be justified (4%), then the costs should be reduced by 236.7 million Gels. First of all, costs should be reduced by cutting administrative costs.
The country’s monetary and fiscal policy makers should coordinate
According to PMCG, Georgia’s economy may grow only by 2%. The organization explains that if inflation rate won’t exceed the forecasted one (4%), nominal GDP will grow only by 6%, that is lower (1 750 mill Gel) the 9.5% - envisaged while planning 2015 budget. As a result, 2015 tax revenues will be less than forecasted by 236 mill gel that can raise new fiscal challenges for the country.
What’s wrong with the economy: 5 questions to 8 experts
Tamar Jugheli, Research Director at PMC RC discusses about exchange rate. Three advices to people how to act in this situation: 1. Don’t panic, as speculations may aggravate citizens more; 2. In future, take loans or other obligations in the currency in which they have income; 3. Do not take obligations without 100% guarantee of repayment.
Falling Exchange Rate Discourages Bank Borrowing, Survey Shows
The ongoing dramatic devaluation of the Georgian Lari towards the USD is discouraging citizens from borrowing from banks for fear of not being able to repay the loans, a recent survey by The FINANCIAL has shown. More than half of the respondents had planned to borrow from banks till the national currency started to devaluate so significantly. In cases where there is a real need for extra finances then Georgians are prepared to borrow in the national currency only.
Experts explain reduction in economic growth by several factors
Part of the experts agree with the arguments of the Government and claim that reduction in economic growth forecast is linked with the external factors. Others believe that the wrong economic policy of the Government have greater impact than the external factors.
Aleksi Aleksishvili: it was impossible to artificially appreciate Georgian Lari
Georgia economy is weak, small. Therefore Lari could not resist the global situation. The main question that arises – whether the National Bank of the Government could artificially intervene to continue the course of the work as it was before. The answer is obvious – no.
The number of visitors to Georgia raised by 101 200, in 2014
The number of visitors to Georgia raised by 101.2 in 2014 comparing with 2013 year. According to PMCG, the highest share (86.2%) came over land from the neighboring countries (Turkey, Armenia, Azerbaijan and Russia).