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1. LOCAL MARKET ACCOUNTS FOR ONLY 5-7% OF LLC “HERBIA”’S SALES
   (Daily News: June 6, 2011)

   Zurab Janelidze, founder of LLC Herbia, has declared to Sarke that current volume of production makes up 200 t of greens yearly, which is mainly exported. Only 5-7% of production is sold locally, he noted.

2. INVESTORS PLAN TO SPEND 7M LARI FOR SAIRME RESORT DEVELOPMENT
   (Daily News: June 2, 2011)

   Zurab Jangulashvili, director of Sairme Development Company has declared to Sarke that first stage of Sairme resort development is planned to complete by late June. In early July, this resort in Baghdati district of Imereti region will receive first holidaymakers.

3. RULE FOR NECESSARY INFORMATION’S PROVISION DURING BANKING SERVICES ENFORCED
   (Daily News: June 1, 2011)

   The rule, which charges banks to provide necessary information to clients, became effective today. The rule was prepared by National Bank of Georgia (NBG).

4. EXPERTS NAME IMPROPER CERTIFICATION AS KEY HAMPERING FACTOR FOR AGRICULTURAL EXPORT
   (Daily News: May 6, 2011)

   Zurab Chekurishvili, manager of agribusiness unit of EPI (USAID-funded Economic Prosperity Initiative), considers that absence of proper certification is the key obstacle for agricultural production’s export development.

   In order to obtain international certificate, a farmer should hire international expert and to pay him at least 30,000-50,000 lari, which is very difficult for maintain, Chekurishvili said.

5. Rezonansi: “150M LARI CRUCIAL FOR AGRICULTURE WAS TRANSFERRED BY “SECRET ORGANIZATIONS””
   (Economic Press Monitor: May 3, 2011)

   According to Georgian Ministry of Agriculture, JSC Agriculture Corporation has attracted 150 million lari, crucial for agriculture development. However, funding sources are not disclosed.

6. “BASISBANK” FIXED PROFIT OF 392,637 LARI IN Q1
   (Daily News: April 28, 2011)

   Basisbank reported profit of 392,637 lari for the 1^st quarter. The volume declined 2.4 times if compared with figure of the same period of 2010.

7. Rezonansi: “TAX OFFICERS TO BE REPLACED BY AUDITORS”
   (Economic Press Monitor: April 14, 2011)

   According to the government’s initiative, if a company represents conclusion of authorized auditor, it will not be checked by the Revenue Service.

   The article brings comments of Business Association president Giorgi Chirakadze, expert Irakli Shavishvili and businessman Zurab Tkemaladze (representative of political party Industrials).

8. FUEL COSTS’ WRITE-OFF TO BE EASED FOR COMPANIES
   (Daily News: April 13, 2011)

   According to the government’s initiative, fuel costs’ accounting procedures will be simplified for companies. In particular, the companies will have to submit only invoices on petrol purchase and odometers’ showings (once a month) in order to write-off the fuel costs.

9. Bankebi da Finansebi: “HIGH INFLATION HAD A NEGATIVE INFLUENCE AT THE BANKING SECTOR ALSO”
   (Economic Press Monitor: April 13, 2011)

   Experts expected that commercial banks have to keep the growth, started in the previous year, however different tendency took shape this year.

   According to the National Bank of Georgia, volume of banks’ lending has been decreased in February by 101.6 million lari (1.6%), compared with the previous month, and amounted to 6.2 billion lari.

10. “FREE DEMOCRATS” POINT AT GAPS IN PARKING SYSTEM, TBILISI CITY HALL DENY THEM
    (Daily News: April 6, 2011)

    Deputy chairman of Tbilisi Sakrebulo (city council) Zurab Abashidze (representative of oppositional Free Democrats) considers that parking system in the city is “not comprehensively thought over and correspondingly its efficiency is low”. Besides, Abashidze considers that high rates of fines are “groundless”.

11. Rezonansi: “OLD DEBT NOT TO BE REPAID WITH NEW EUROBONDS”
    (Economic Press Monitor: March 30, 2011)

    According to the draft budgetary amendments, Ministry of Finance will issue securities of 900 million lari this year.

    According to Papuna Petriashvili, Deputy Minister of Finance, the matter concerns re-financing of Eurobonds, cost of $500 million, released in 2008.

12. “INTEL EXPRESS” HAS ABOUT 40 RETAIL AGENTS
    (Daily News: March 28, 2011)

    According to international remittances system Intel Express, the system has 42 retail agents countrywide (entity authorized to implement money transfers). Of which, 6 have been added this year.

13. “KAKHETI ENERGY DISTRIBUTION” INSTALLED INDIVIDUAL METERS TO 43% OF SUBSCRIBERS
    (Daily News: March 23, 2011)

    Zurab Digmelashvili, director of JSC Kakheti Energy Distribution, reported to Sarke that at this stage individual meters have already been installed to 43% of subscribers. During 2 years (2009-2010), 4.5 million lari was spent for this project, of which 2.2 million lari was spent last year, Digmelashvili noted.

14. “TBILGVINO” TO SELL 3 NEW NAMES OF WINE FROM APRIL
    (Daily News: March 21, 2011)

    JSC Tbilgvino is going to start selling of 3 new names of wine from April: Saperavi Roze, Cabarnet Saperavi and Kvevris. At the starting stage, pilot 40,000 bottles have been produced (20,000 bottles of Saperavi Roze and per 10,000 bottles of Cabarnet Saperavi and Kvevris).

15. Rezonansi: “THE PRESIDENT PROVIDES ENTREPRENEURS WITH INCORRECT INFORMATION”
    (Economic Press Monitor: March 2, 2011)

    As Georgian President Mikheil Saakashvili had declared at the opening of economic zone of registration in Poti, if a taxpayer pays 200,000 lari to the budget, he is released from VAT.

    Supposedly, the President meant a special rule of taxing for importers.

16. Rezonansi: “POLITICIANS STARTED TO TALK ABOUT MEDICAL SERVICE QUALITY”
    (Economic Press Monitor: February 22, 2011)

    According to Zurab Abashidze, member of Tbilisi City Council’s oppositional fraction Free Democrats, mechanism of wholesale procurement of policies from the insurance companies with the budget funds, objectively includes high risk of corruption deals.

    It is necessary, to start immediately studying of service quality, offered by the insurance companies to their beneficiaries and the results should be acquainted to the public, Abashidze declares.

17. REGULATING COMMISSION MEMBER: ENERGY EFFICIENCY MEASURES ARE MATTER OF AWARENESS RATHER THAN OF REGULATION
    (Daily News: February 14, 2011)

    According to member of National Energy and Water Supply Regulating Commission Zurab Gabelia, energy efficiency measures are matter of awareness rather than of regulation.

    Population should realize in what cost lost energy results, while management-regulation is less effective for such issues, Gabelia told Sarke.

18. Bankebi da Finansebi: “INFLATION IS A SERIOUS, BUT NOT UNRESOLVABLE PROBLEM”
    (Economic Press Monitor: February 2, 2011)

    While commenting on high inflation in an interview with the newspaper, Zurab Gvasalia, president of Georgian Banks Association, notes that annual inflation would be higher if policy of National Bank of Georgia (NBG) has been less effective.

    I regard that NBG had acted correctly, starting gradual tightening of monetary policy already last summer Gvasalia declares.

19. EXPERTS COMMENT ON CHALLENGES OF 2011
    (Daily News: January 28, 2011)

    For comments on challenges of 2011 (mainly inflation processes), Sarke applied to experts. Here are comments of Zurab Gvasalia, head of Georgian Banks’ Association; Merab Kakulia, former vice-president of National Bank of Georgia, Lado Papava, former Economic Minister, Emzar Jgerenaia, professor of Tbilisi State University, Kakha Kokhreidze, vice-president of Georgian Small and Middle Entrepreneurs’ Association.

20. Rezonansi: “CO-FUNDING PRINCIPLE NOT TO COME INTO FORCE FOR TEACHERS”
    (Economic Press Monitor: December 21, 2010)

    Population below the poverty line and schoolteachers are using state medical insurance for several years. According to the latest data, their number amounts to 875,270 and 80,750, respectively.

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