High-Level Representatives of the Commission Participated in the Energy Community’s 20th Anniversary Event
The Chairman of the Georgian National Energy and Water Supply Regulatory Commission, Davit Narmania, and Commissioner Giorgi Pangani participated in the 20th Anniversary Event of the Energy Community, held in Athens, Greece.
The event gathered high-level officials from the Energy Community Contracting Parties and representatives of European energy institutions. The participants underscored the importance of partnership and close cooperation among countries in the energy sector.
The Energy Community was established in 2005 in Athens under international treaties. The founding parties to the Energy Community Treaty include the European Union and the Contracting Parties from Southeast Europe and the Black Sea region. In 2016, the Protocol on the Accession of Georgia to the Energy Community was signed, and since 2017, Georgia has been a full-fledged member of the Energy Community. The main objective of the Energy Community is to extend the European Union’s energy legislation and market principles to non-EU countries, based on a legally binding framework.
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Inflation expectations for three-year period decrease in July - NBG
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The National Bank of Georgia (NBG) has published the July survey of economic activity participants on inflation expectations and economic activity.
According to the survey, compared to June, inflation expectations for a three-year period decreased in July. Specifically, fewer participants expect price changes in the range of 6–8% or above 8%.
At the same time, the share of respondents who expect price changes within 4–6% increased. Meanwhile, one-year inflation expectations remained almost unchanged compared to June.
On the one hand, the number of respondents expecting prices to stay the same or rise within 6–8% over the next year increased. On the other hand, the share of those expecting price changes between 0–2% or above 8% decreased.
The survey also shows that expectations for price changes in respondents’ own products and services over the next year have been revised downward.
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