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Daily Archives: April 1, 2019

First Quarter Recorded 100.5% Fulfillment of Budget Revenues

According to the State Treasury, in the first quarter of 2019 (January-March) tax revenues of Georgia’s consolidated budget (state and municipal budgets) constituted 2.6 billion GEL, up 0.5% as compared to the planned indicator of the same quarter. The budget revenues exceeded the plan by 14 million GEL. As compared …

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Qvevri-Shaped Hotel to be Built in Telavi

Hotel “Qvevri” will be built in the village of Shalauri in Telavi. The main goal of the hotel is to popularize Georgian wine and culture. The hotel complex consists of a 15-room main building and a 20 qvevri cottage. According to the project, each pitcher will have the name of …

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Sales of All Sorts of Polybags Banned starting April 1

Under the government plan approved on September 14, 2018, sales of polybags of all sorts and thickness is banned starting April 1, 2019. The mentioned resolution came into force in two stages. Under regulations for polybag and biodegradable packages, starting October 1, 2018 production, imports and sales of polybags with …

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Technical Rules to Regulate the Production of Grape Origin Spirits

From April 1, 2019, the technical regulation – “on defining General rules for producing grape origin spirits and the list of legal processes, materials and substances” will be launched. The technical regulation aims to define general principles of regulation, processing and distribution of alcoholic beverages, protection of consumers’ rights. “This …

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Fitch Affirms Tegeta Motors at ‘B-‘; Withdraws Rating

Fitch Ratings has affirmed Georgian auto parts company Tegeta Motors LLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with Stable Outlook. The rating has simultaneously been withdrawn. The rating of Tegeta Motors is constrained by its small scale, lack of geographical diversification, negative free cash flow (FCF) generation, and tight …

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