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Economic Press Monitor


March 13, 2018

IN THIS ISSUE:

1. GEORGIA’S LARGEST INVESTOR COMPANIES – TOP 10
2. “UNM”: FOR MOVING OF TREE IN KOBULETI, BIDZINA IVANISHVILI CUT DOWN WIND-SHELTER STRIP
3. NONEXISTENT INVESTMENTS, FRIGHTENED INVESTORS AND ECONOMIC DROP
4. EVERY THIRD PERSON USES LOAN FOR PHYSICAL SURVIVAL
5. “GEORGIAN MANGANESE” INSTEAD OF 200 WILL PAY 7 MILLION TO THE STATE

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1. GEORGIA’S LARGEST INVESTOR COMPANIES – TOP 10
Companies

According to Sakstat’s estimation, foreign direct investments, made in Georgia in 2017, totaled to $1.8 billion, exceeding by 16.2% the showing of 2016.

Referring to Sakstat, the magazine brings the list of those enterprises, which had biggest investments in the last year.

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2. “UNM”: FOR MOVING OF TREE IN KOBULETI, BIDZINA IVANISHVILI CUT DOWN WIND-SHELTER STRIP
Economic & Politics

More than 100 trees were cut down because of moving of eucalyptus tree to the dendrology park, located in the yard of Bidzina Ivanishvili (billionaire ex-premier), declares Rezo Kharazi, member of oppositional United National Movement (UNM), resident of Kvirike village of Kobuleti municipality of Ajara.

Kharazi specified that the eucalyptus tree has to be removed from yard of the local resident, while almost all trees are cut down at distance of about a half a kilometer on the road to this yard.

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3. NONEXISTENT INVESTMENTS, FRIGHTENED INVESTORS AND ECONOMIC DROP
Macroeconomics & Budget

According to estimation of Sakstat, foreign direct investments (FDI) in Georgia’s agriculture amounted in 2017 to only $3.6 million.

Such small volume of investment in agriculture was not fixed after 2007, Tabula says and specifies that in the reporting year, agrarian sector accounted for less than 0.02% of total FDI in Georgia.

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4. EVERY THIRD PERSON USES LOAN FOR PHYSICAL SURVIVAL
Macroeconomics & Budget

According to research, conducted 2 years ago by Oxfam, every 7th family in Georgia copes with hunger at the expense of credits, taken from commercial banks and microfinancial organizations, the newspaper reports.

Economist Emzar Jgerenaia says: “For the last 2-3 years, situation in the country became very heavy”.

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5. “GEORGIAN MANGANESE” INSTEAD OF 200 WILL PAY 7 MILLION TO THE STATE
Conflict and Court

The metallurgical company Georgian Manganese will pay 7 million lari in favor of Georgia’s budget, the newspaper reports.

Originally (in 2015), Revenue Service imposed on the company payment of 200 million lari.

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