Issue no: 1206/208
• NOVEMBER 26 - 28, 2019
• PUBLISHED TWICE WEEKLY
PRICE: GEL 2.50
In this week’s issue... Weekly Entrepreneurial News @entrepreneur.ge NEWS PAGE 2
Audit Reveals Flaws in Gori Municipality Spending BUSINESS PAGE 3
Internal Georgia & the Fate of Anaklia Port in 2020 BUSINESS PAGE 4
FOCUS
ON DOING BUSINESS WITH AUSTRIA The Austrian Ambassador on bilateral relations
PAGE 7
Should Your Children Be Unschooled? BUSINESS PAGE 6
Education, Training & Skills Key to Economic Growth, Social Cohesion & Political Stability in EU Neighborhood Countries
Tbilisi Budget 2020 & Its Priorities Georgia's Leading English BUSINESS PAGE 8
Tourism Platform WHERE. ge Celebrates 3 Years of Success
BY TEA MARIAMIDZE
T
he total budget allocated to Tbilisi for 2020 amounts to GEL 1,020,000,000 ($342,857,139), with revenues of GEL 979,569,000 ($329,266,887.05); GEL 30 million less than the planned revenues of 2019, GEL 1,010,200,500 ($339,563,189.46). Next year's draft budget also specifies that out of the total revenues, GEL 675 million ($226.89m) are taxes, GEL 100 million ($33.61m) are grants and GEL 202 million ($67.90m) are other revenues. On the whole, the 2020 revenues are lower, but in some areas Tbilisi City Hall has more positive expectations than it had this year, in revenues from taxes, for example, which are projected to grow by about GEL 17 million in the 2020 budget.
BUSINESS PAGE 9
Inn Group - High Standard Budget Hotel Chain in Georgia BUSINESS PAGE 11 Prepared for Georgia Today Business by
Markets
Image source: matadornetwork.com
As of 22ͲNovͲ2019
STOCKS
City Hall also expects about GEL 15 million more to be included in the capital's 2020 property tax budget. Where the current plan was GEL 185 million, next year City Hall expects that it will be able to mobilize GEL 205 million from property tax, which is GEL 20 million more than in 2019. As for other revenues, the Tbilisi City Hall is also expecting more money from construction permits in 2020 than this year. The plan for 2019 was GEL 8.5 million and next year GEL 10 million. The capital city government is also expecting millions of Lari more in revenue from the taxi license fee (this year's plan was GEL 700,000), and GEL 11 million more from fines, up to GEL 51 million from this year’s GEL 40 million. However, next year there is an expected fall of GEL 4 million from the gambling business fees compared to 2019 revenues. Continued on page 4
w/w
m/m
w/w
m/m
Bank of Georgia (BGEO LN)
GBP 14.00
Ͳ6,2%
+7,9%
GEOROG 04/21
104.54 (YTM 3.44%)
+0,1%
+0,4%
Georgia Capital (CGEO LN)
GBP 9.50
Ͳ4,0%
Ͳ3,1%
GEORG 04/21
105.76 (YTM 2.59%)
+0,0%
Ͳ0,3%
GBP 1.65
Ͳ8,3%
Ͳ16,2%
GRAIL 07/22
109.89 (YTM 3.76%)
+0,0%
+0,2%
GBP 12.00
Ͳ9,8%
Ͳ7,0%
GEBGG 07/23
105.32 (YTM 4.41%)
+0,2%
+1,8%
CURRENCIES
GHG (GHG LN) TBC Bank Group (TBCG LN)
COMMODITIES Crude Oil, Brent (US$/bbl) Gold Spot (US$/OZ)
Price
BONDS
Price
Price
w/w
m/m
Price
w/w
m/m
63,39
+0,1%
+6,2%
GEL / USD
2,9739
+0,1%
+0,3%
1 461,93
Ͳ0,4%
Ͳ1,7%
GEL / EUR
3,2775
Ͳ0,1%
Ͳ0,6% Ͳ0,0%
GEL / GBP
3,8167
Ͳ0,4%
INDICES
Price
w/w
m/m
GEL / CHF
2,9818
Ͳ0,6%
FTSE 100
7 326,81
+0,3%
+1,6%
GEL / RUB
0,0465
Ͳ0,2%
Ͳ
FTSE 250
20 485,81
+0,4%
+1,5%
GEL / TRY
0,5205
+0,8%
+2,0%
DAX
13 163,88
Ͳ0,6%
+3,2%
GEL / AZN
1,7542
+0,2%
+0,4%
DOW JONES
27 875,62
NASDAQ MSCI EM EE MSCI EM
Ͳ0,5%
+4,1%
GEL / AMD
8 519,89
Ͳ0,2%
+5,1%
GEL / UAH
0,1231
+0,4%
+3,0%
183,81
Ͳ0,6%
+2,1%
EUR / USD
0,9074
+0,3%
+0,9%
1 048,55
Ͳ0,0%
+1,4%
GBP / USD
0,0062
Ͳ
Ͳ0,6%
Ͳ
0,7792
+0,5%
+0,3%
SP 500
3 110,29
Ͳ0,3%
+3,8%
CHF / USD
0,9976
+0,8%
+0,8%
MSCI FM
2 645,97
Ͳ0,3%
+0,7%
RUB / USD
63,8605
+0,2%
+0,2%
GT Index (GEL)
1 582,68
Ͳ
Ͳ
TRY / USD
5,7130
Ͳ0,6%
Ͳ1,6%
GT Index (USD)
1 208,13
Ͳ
Ͳ
AZN / USD
1,6933
Ͳ0,3%
Ͳ0,4%