Economic Press Monitor
May 24, 2022
IN THIS ISSUE:
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| 1. |
“OUR INDUSTRY DID NOT DEMAND CONTINUATION OF WORK IN EXCHANGE FOR BREAD PRICE GROWTH, AND WE ARE NOT GOING TO DO THIS IN FUTURE EITHER”
Agriculture & Food
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Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, considers that a decision should be made in near future so that by July 1, local flourmills will be prepared to a certain extent for harvesting. “It should not be presented in such a way that we grind the wheat crop and then stop again”, he points.
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| 2. |
GIORGI KAKAURIDZE: MAINTAINING THE STRENGTHENED EXCHANGE RATE WILL LOWER PRICE OF IMPORTED PRODUCTION
Macroeconomics & Budget
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Georgia’s Deputy Finance Minister Giorgi Kakauridze said that oil-products and foodstuff contributed the largest share to Georgia’s almost 12% inflation in the 1st quarter. At the same time, there is a “high trend of the rate strengthening in May”, which “should have effect over the next 1-2 weeks, and when the new product enters the market, it should arrive already with a reduced price”, Kakauridze declared.
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| 3. |
STRENGTHENING OF LARI WILL CONTINUE THROUGHOUT THE SUMMER, THE RATE WILL GO BELOW 2.80 AND WILL FIND A NEW MARK
Macroeconomics & Budget
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Georgian national currency has already returned to the pre-war mark, and the rate went below 2.9 GEL/USD, so that 2.7-2.8 GEL/USD mark is already real, the newspaper says. The article brings comments on the subject, made by economist Giorgi Tsutskiridze and analyst Zura Kukuladze.
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| 4. |
ALMOST ALL BUSINESSES IN GEORGIA ARE CONTROLLED BY QUIET MONOPOLISTS
Economic & Politics
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Georgian markets of fuel, frozen poultry meat, cereals, sugar are less diversified and the number of supplier companies is small, the article says. The article brings comments on the subject, made by Nika Shengelia, vice president at Research and Forecasting Center, and Ramaz Gerliani, head of the Center for Economic Transformation.
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