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Tag Archives: Mamuka Bakhtadze

PM Candidate: We will Free Representative Companies from Taxes

Mamuka Bakhtadze, a nominee for the position of Prime Minister, has proposed to free representative companies from taxes to attract major international companies to the country. As a result, domestic business companies will get the chance to develop their directions. “As reported, in 2017 Georgia recorded a historical maximum of …

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Georgian Dream Party Introduces New Prime Minister of Georgia

Georgian Dream party presented Mamuka Bakhtadze as the New Prime Minister of Georgia. Yesterday Georgian Prime Minister Giorgi Kvirikashvili announced his resignation after a series of antigovernment protests shook the capital, Tbilisi. Kvirikashvili made the announcement on June 13, citing “disagreements” with the leader of the ruling Georgian Dream party, …

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New Regulations for Credit Companies

New and fairer rules will be established in Georgia’s banking and finance sector to protect consumer rights, Minister of Finance Mamuka Bakhtadze said. The reforms are to establish new qualitative standards and support sustainable, long-term economic growth. Excessive indebtedness is a key challenge the reforms will address, as it is …

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Mamuka Bakhtadze: Unfair Rules that Grow Poverty will Be Removed

Mamuka Bakhtadze

Over-indebtedness is one of the key factors of poverty growth, Minister of Finance Mamuka Bakhtadze told the news conference, where he overviewed details of the coming reform in the banking and finance sector. Excessive debts lower incomes of our citizens, he said. “Today we see that citizens who suffer from …

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Mamuka Bakhtadze: Banking and Finance Sectors Establish New Fair Rules of Game

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

The banking and finance sectors started establishing fair rules of the game, Finance Minister Mamuka Bakhtadze said after today’s government meeting. At the special briefing Mamuka Bakhtadze discussed a new bill submitted to the Government meeting. The legislative initiative promulgates several important principles, he said. “First, no lender will be …

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Minister of Finance Refuses to Retreat

Regulations will Refer to All Credit Organizations, after Banks. A month ago Minister of Finance Mamuka Bakhtadze appraised the Georgian banking sector as an obstacle frustrating economic development in Georgia.   Following this statement National Bank of Georgia (NBG) introduced new regulations on issuance of loans without examining clients’ solvency. Starting …

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Germany to Allocate 252.7 million EUR to Georgia

Germany

As part of consultations with Government of Germany in autumn 2017, we have agreed to cooperate in the priority directions that will ensure further development of Georgia, Minister of Finance Mamuka Bakhtadze after signature of agreement on financial cooperation. Minister of Finance Mamuka Bakhtade expressed gratitude to German Ambassador for …

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Unfair Rules of Play in Georgian Banking Sector

The Ministry of Finance of Georgia has announced a new government initiative to create an alternative to expensive banking products. According to Minister of Finance Mamuka Bakhtadze, this initiative is necessary to help the economy progress. “The Georgian banking system should drive economic development, not frustrate it, but, regretfully, in …

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Georgian Banking System Hampers Economic Development

Mamuka Bakhtadze

Minister of Finance against Commercial Banks Georgian banking system frustrates economic development, Georgian Finance Minister Mamuka Bakhtadze said at TechnoPark, where a memorandum on implementation of digital Silkroad project was signed. «Bank loans with high interest rates frustrate development of entrepreneurship and business. The Georgian banking system is to drive …

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Finance Minister: Banking System should Drive Economy, not Destroy It

Minister of Finance Mamuka Bakhtadze has announced a new government initiative for shaping an alternative to expensive banking products. When talking about the new initiative, Minister of Finance Mamuka Bakhtadze said that the Georgian bank sector should drive Georgian economy, not destroy it. But we have different reality in the …

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