Economic Press Monitor
July 22, 2021
IN THIS ISSUE:
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| 1. |
US STATE DEPARTMENT: INVESTORS’ DISTRUST TO GEORGIAN JUDICIAL SYSTEM IS GROWING
Economic & Politics
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“The independence of Georgia’s judiciary and political inference in the judicial system remain problematic”, is said in the US State Department report published on July 21. “Many investors perceive Georgia’s court processes as slow, inefficient, lacking in transparency, and hampered by a lack of technical expertise”, the document indicates, pointing that this issue affects trust of investors.
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| 2. |
LEVAN SILAGAVA – PRICES HAVE DECLINE AS OF TODAY – WE WILL PROBABLY BE CALM FOR 2-3-4 MONTHS IN CONNECTION WITH BREAD PRICES
Agriculture & Food
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Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, declared that “prices have decline as of today, this is facilitated by stability of lari exchange rate”. “We will probably be calm for 2-3-4 months in connection with bread prices”, he said.
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| 3. |
GIORGI KAKAURIDZE: IN THE SUBSEQUENT PERIOD, INFLATION SHOULD HAVE A DECREASING TREND
Macroeconomics & Budget
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Georgia’s Deputy Finance Minister Giorgi Kakauridze assures that “in the subsequent period, inflation should have a decreasing trend”. In June, annual inflation in Georgia made up 9.9%.
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| 4. |
BECAUSE OF HIGH INFLATION, THEY DEMAND RESPONSIBILITY OF NATIONAL BANK
Macroeconomics & Budget
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National Bank of Georgia (NBG) forecasts that inflation will start decrease from March 2022, while before that it is going to maintain a toughened monetary policy, the newspaper says. Lasha Kavtaradze, economist at Galt&Taggart, estimates that “at the end of the year, in December, inflation will be double-digit”.
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