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GEL Stability and Estonian Model – 6 Months of Nikora

Starting January 2017 several important economic reforms were implemented. The private sector representatives named several directions for business, including free trade agreement with China that will come into force in several months.

Nikora director general Irakli Bokolishvili told the Commersant that January-June period of 2017 was profitable. Currency stability has promoted business activities, he said.

“January-June period was quite successful for Nikora. The budget-determined parameters exceeded the initial plan by about 15%. If we compare January-June 2016 period to January-June 2017, it should be noted that the company has about 30% upturn. Moreover, currency stability has promoted business. Past months have brought positive results and we expect positive tendencies for the remaining six months too”, Bokolishvili noted.

Nikora director also talked about positive steps taken by Authorities in business sector. Bokolishvili talked about future plans.

“This year the Authorities took positive steps and starting January 1 we are able to reinvest finances into our company and expand business. Another and key positive moment is that pressure on business has been removed over the past 5 years. As to future plans, we will open about 15 trading outlets, including 9 ones in regions and 7 ones in the capital city”,- Irakli Bokolishvili said.