The sitting of the Budget and Finance Committee

Published in Politics
Friday, 13 May 2016 16:04

The Committee defined the form of selection (tender/competition), tender/competition Commission composition and tender/competition terms for the External Auditing Company of the National Bank in line with the Article 228 of the Rules of Procedure and on the basis of the Ordinance of May 11, 2016 N401/3 of the Bureau.
According to the Deputy-Chair, Nodar Ebanoidze, the Parliament calls tender once per two years to select the auditing company for audit of the financial activity of the National Bank. This year, on the basis of the written appeal by the Bank, selection started earlier in line with the IMF recommendation. The Articles of the Contest Commission shall be submitted to the Bureau. The Commission shall submit the auditing company selected through the competition no later than June 17, 2016.
Committee supported the candidacy of Zurab Melikishvili by minority to substitute the Deputy-Chair, Giorgi Vashadze.

Lari exchange rate reached an alarming level

Published in Economics
Thursday, 21 January 2016 17:55

The economic situation in Georgia is too difficult. According to Zurab Melikishvili, the exchange rate of lari has reached an alarming level.
The National Movement speaks about the government"s inaction and call on the goverment to take active steps to save the national currency.
As Melikishvili noted,  In the last 13 months, 407 million dollars were spent from the reserve fund so that the National Bank has no possibility to buy back even one dollar.

 

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