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Economic Press Monitor


April 20, 2017

IN THIS ISSUE:

1. MONETARY FUND DECREASED FORECAST OF GEORGIA’S ECONOMIC GROWTH DOWN TO 3.5%
2. THE GOVERNMENT MAY TAKE “KHUDONHES” PROJECT AWAY FROM INVESTOR AND IMPLEMENT IT BY OWN
3. DAVID SAGANELIDZE: EXPORT CREDITING AGENCY’S BUDGET WILL AMOUNT TO 20M
4. INSURANCE MARKET IS GETTING PREPARED FOR DRASTIC CHANGES
5. SCHOOL TEXTBOOKS WITHIN BUSINESS INTEREST OF VICE PREMIER’S FAMILY

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1. MONETARY FUND DECREASED FORECAST OF GEORGIA’S ECONOMIC GROWTH DOWN TO 3.5%
Macroeconomics & Budget

IMF reduced forecast of Georgia’s economic growth for 2017 from 5.2% to 3.5%.

In 2016, growth rate of 2.4% placed Georgia on 98th place worldwide.

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2. THE GOVERNMENT MAY TAKE “KHUDONHES” PROJECT AWAY FROM INVESTOR AND IMPLEMENT IT BY OWN
Energy, Oil & Gas

In connection with KhudonHES project, Energy Minister Kakha Kaladze declared that “we are holding negotiations with investor, we have offer that the state will take the project”. Hydroelectric station “should be built, this is very important for the country’s economic development”, he pointed.

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3. DAVID SAGANELIDZE: EXPORT CREDITING AGENCY’S BUDGET WILL AMOUNT TO 20M
Macroeconomics & Budget

Head of the Partnership Fund David Saganelidze declared that the Parliament will consider draft bill on Export Crediting Agency in near future. At the starting stage, budget of the Agency will amount to 20 million lari, he said.

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4. INSURANCE MARKET IS GETTING PREPARED FOR DRASTIC CHANGES
Finances & Banking

Georgia-EU Association Agreement envisages introduction of compulsory Motor Third Party Liability (MTPL) insurance in Georgia.

Head of the State Service for Insurance Supervision Kote Sulamanidze says that according to the EU directive (2009/103/EC), MTPL insurance will be compulsory initially for transit vehicle owners.

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5. SCHOOL TEXTBOOKS WITHIN BUSINESS INTEREST OF VICE PREMIER’S FAMILY
Economic & Politics

According to new regulation, published on February 17, Education and Science Minister is entitled to apply special code to series of schoolbook without any classification stages, needing the government’s confirmation for this end.

Education policy expert Simon Janashia estimates that “Such decision could be influenced by the very political goals: if there is influential group, which is able to exert influence on the government, it will be able to receive approval for own book, bypassing any classification”.

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  04/26/17 + / -
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