Economic Press Monitor
June 28, 2017
IN THIS ISSUE:
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| 1. |
SINCE JULY 1, SALE AS CHEESE THE PRODUCT, MADE OF MILK POWDER, TO BE FORBIDDEN
Agriculture & Food
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Amendments, made to technical regulations on milk and dairy products, forbid to brand as “cheese” the products, made of milk powder, starting from July 1. Businessmen use milk powder in production of cheese mainly for cost reduction, Tabula notes and does not exclude that new regulations will trigger price increase on cheese.
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| 2. |
OVER A HALF OF CHEESE BEING ON SALE IS FALSIFIED
Agriculture & Food
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Head of National Food Agency Zurab Chekurishvili declares that “production of cheese with use of milk powder acquired mass character in the recent period”. That “puts business operators, occupied in this sphere, in noncompetitive conditions”, he notes.
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| 3. |
AFTER VISA-FREE TRAVEL, TRIP TO EUROPE ROSE IN PRICE BY 20%
Tourism
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The newspaper conducted a poll, which revealed that after visa liberalization, cost of tourist packages in direction of Europe has increased by 15-20%. This is reasoned by much higher price of air tickets, the newspaper writes.
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| 4. |
INTRODUCTION OF BASEL-3 WILL PUSH BANKING SECTOR TO TURN TO BUSINESS CREDITING OF CORPORATE SECTOR
Finances & Banking
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Economist Mikheil Dundua declares that recommendation of IMF should be surely fulfilled and banking sector must transit to Basel-3 model (within requirements of Basel Committee on Banking Supervision). “In case the banking sector turns to new standards, indicator of reserved capital quality will improve”, Dundua notes.
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