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Economic Press Monitor


July 11, 2019

IN THIS ISSUE:

1. IF THE RATE DOES NOT STRENGTHEN TO 2.75, COMMUNAL TARIFFS WILL GROW
2. FOUNDER OF “NABEGLAVI”: AFTER EMBARGO OF 2006, WE SUCCESSFULLY MANAGED TO CONDUCT DIVERSIFICATION
3. FOREIGNERS BUY 36% OF REAL ESTATE IN BATUMI
4. IN TBILISI, NEW “RADISSON” WILL BE OPENED

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1. IF THE RATE DOES NOT STRENGTHEN TO 2.75, COMMUNAL TARIFFS WILL GROW
Energy, Oil & Gas

Communal tariffs, acting currently in Georgia, were established, when the exchange rate was 2.5 GEL/USD, while current rate makes up 2.8-2.85 GEL/USD, the newspaper says.

Nika Shengelia, analyst at Finex-1970 company, states that in several days, next wave of price growth is expected in the country.

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2. FOUNDER OF “NABEGLAVI”: AFTER EMBARGO OF 2006, WE SUCCESSFULLY MANAGED TO CONDUCT DIVERSIFICATION
Companies

We “hardly survived” Russian embargo of 2006 and tried to diversify export, founder of Tskali Margebeli (Healthy Water, Nabeglavi mineral water) Avtandil Svimonishvili declares.

Now, “Russia is not our dominant in export – approximately from 7% to 10%”, Svimonishvili declared to Tabula.

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3. FOREIGNERS BUY 36% OF REAL ESTATE IN BATUMI
Construction

Referring to research of TBC Bank, foreigners accounted for 36% of housing, sold in Batumi in 2018. In 2015, this share made up 14%.

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4. IN TBILISI, NEW “RADISSON” WILL BE OPENED
Construction

In 2021, new Radisson hotel will be opened in historical part of Tbilisi, the magazine reports. The hotel will have 200 rooms.

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Exchange Rates (NBG)
  11/12/19 + / -
  USD   2.9618   0.0015
  EUR   3.2645   0.0052
  RUR   4.6247   0.0108
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