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Daily News


February 13, 2020

IN THIS ISSUE:

1. “GEORGIAN DREAM” SUGGESTS EUROPEAN PARLIAMENT TO SEND MISSION AND STUDY CASE OF “EUROPEAN GEORGIA” LEADER
2. THE IMF MISSION: CONTINUED PRUDENT POLICIES ARE NEEDED TO MAINTAIN GROWTH MOMENTUM
3. THE GOVERNMENT CREATED ADVISORY BODY ON OPEN GOVERNANCE
4. UP TO 10% OF GEORGIAN POPULATION ARE BENEFICIARIES OF SUBSISTENCE ASSISTANCE
5. “ANAKLIA DEVELOPMENT CONSORTIUM”: APPARENTLY, THERE REMAINS NO OTHER WAY, BUT ARBITRATION
6. “GEORGIA RAILWAY”: COMMON TARIFFS FOR TURKMEN OIL-PRODUCTS’ TRANSPORTATION AGREED WITH AZERBAIJANI SIDE
7. “GREEN ALTERNATIVE”: AT LEAST, 6 MINING AUCTIONS WITHIN “100 INVESTMENT OFFERS TO BUSINESS” PROGRAM ARE ANNOUNCED WITH VIOLATION OF LAW
8. “FITCH”: ASSESSMENT OF MICROFINANCIAL ORGANIZATION “CRYSTAL” WILL DEPEND ON RESULTS OF ACQUISITION OF “FINCA BANK GEORGIA”

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1. “GEORGIAN DREAM” SUGGESTS EUROPEAN PARLIAMENT TO SEND MISSION AND STUDY CASE OF “EUROPEAN GEORGIA” LEADER
Politics

Press service of Georgian Dream declared that Georgia’s ruling party suggests European Parliament to create a mission for studying of case of Tbilisi ex-mayor Gigi Ugulava, who is currently leader of oppositional European Georgia.

As the press service noted, secretary general of Georgian Dream Kakha Kaladze and executive secretary of the ruling party Irakli Kobakhidze announced the offer during their visit to Strasbourg.

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2. THE IMF MISSION: CONTINUED PRUDENT POLICIES ARE NEEDED TO MAINTAIN GROWTH MOMENTUM
Economics

In 2019, “growth exceeded expectations, highlighting the resilience of the Georgian economy”, the IMF mission declared.

By estimation of Sakstat, Georgia’s economic growth rate in 2019 made up 5.2%, while the IMF forecasted 4.6%.

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3. THE GOVERNMENT CREATED ADVISORY BODY ON OPEN GOVERNANCE
Politics

Georgian government reported about creation of interdepartmental coordination council of a high rank on open governance.

The body will be composed of deputy ministers and heads of the country’s non-governmental organizations, engaged in the open government process.

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4. UP TO 10% OF GEORGIAN POPULATION ARE BENEFICIARIES OF SUBSISTENCE ASSISTANCE
Society

Sakstat reported that 120,000 Georgian families were beneficiaries of subsistence assistance in 2019.

Respectively, by rough calculations (assuming average family, composing of 3 members, and envisaging total Georgia population, making up 3.72 million people), beneficiaries of subsistence assistance were about 9.7% of the country’s population.

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5. “ANAKLIA DEVELOPMENT CONSORTIUM”: APPARENTLY, THERE REMAINS NO OTHER WAY, BUT ARBITRATION
Politics

Anaklia Development Consortium declared that on January 23, it has notified Georgian government about dispute and requested a meeting for its settlement by negotiations.

However, Georgia government “has not yet engaged in any meaningful way in discussions” with the Consortium, so, it seems that the Consortium “will be left with no choice but to arbitrate its dispute” with the government, the company said in the statement released on February 12.

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6. “GEORGIA RAILWAY”: COMMON TARIFFS FOR TURKMEN OIL-PRODUCTS’ TRANSPORTATION AGREED WITH AZERBAIJANI SIDE
Economics

State-owned Georgian Railway reported that common tariffs for transportation of Turkmen oil and oil products are coordinated with the Azerbaijani side.

As the company said, the agreement was reached at the meeting of heads of Georgian Railway and Azerbaijan Railways, which held on February 11 in Tbilisi.

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7. “GREEN ALTERNATIVE”: AT LEAST, 6 MINING AUCTIONS WITHIN “100 INVESTMENT OFFERS TO BUSINESS” PROGRAM ARE ANNOUNCED WITH VIOLATION OF LAW
Society

“At least, 6 auctions for mining licenses within the state program “100 Investment Offers to Business” are announced with violation of law”, environmental organization Green Alternative declared.

As the organization specified, auctions are announced on licenses, on which consideration of screening applications is still underway in the Ministry of Environmental Protection and Agriculture.

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8. “FITCH”: ASSESSMENT OF MICROFINANCIAL ORGANIZATION “CRYSTAL” WILL DEPEND ON RESULTS OF ACQUISITION OF “FINCA BANK GEORGIA”
Business

Assessment of Georgian microfinancial organization Crystal will depend on changes in its leverage profile, resulting from planned acquisition of FINCA Bank Georgia, Fitch Ratings declared.

Fitch noted that it will review rating of Crystal (currently, “B” with “stable” outlook) “once the relevant details become available”.

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