Economic Press Monitor May 28 - June 3, 2023	Days:  06 13 20 27 03

economic & politics

FORBES GEORGIA: “IN WHAT CASE US SANCTIONS AGAINST GEORGIAN AUTHORITIES COULD BE TIGHTENED?”

May 30, 2023 - The magazine considers possibility of tightening US sanctions against the Georgian authorities. For this purpose, the article analyzes the US sanctions against Moldovan and Ukrainian oligarchs.




FORBES GEORGIA: “STRUGGLE FOR NATIONAL BANK”

May 29, 2023 - National Bank of Georgia (NBG) has always been a subject of special interest for the ruling parties in Georgia, the article stated.

“Under the informal, oligarchic rule of the Georgian Dream, interest in submission of the National Bank has doubled”, points author of the article (Roman Gotsiridze, NBG president in 2005-2007).




REZONANSI: “SEVERAL NEW SCANDALS BEFORE SPEECH IN EUROPEAN PARLIAMENT – RELATIONS BETWEEN THE PRESIDENT AND THE GOVERNMENT BECAME EXTREME TENSED”

May 29, 2023 - Speaking at celebration of Independence Day on May 26, Georgia’s President Salome Zurabishvili sharply criticized authorities of the country, the newspaper says.

The President said that the Georgian authorities are changing the foreign course and acting without consent of their people.

macroeconomics & budget

BATUMELEBI: “GOVERNMENT FILED TO SPEND OVER 20M LARI – BUDGET EXECUTION IN Q1”

May 31, 2023 - In the 1^st quarter, the Ajara government was supposed to receive revenue of 100 million lari, while actual implementation exceeded the plan by 19 million lari.

At that, the plan for budget payments amounted to 77.94 million lari, while actual financing made up 57.58 million lari, i.e. the difference exceeds 20 million lari.

energy, oil & gas

REZONANSI: “GREAT CHANGES IN ENERGY SECTOR – THE COUNTRY STARTS IMPLEMENTATION OF SIGNIFICANT PROJECTS”

May 31, 2023 - Georgian authorities plan to announce an auction for construction of an energy-efficient thermal power plant of combined cycle with a capacity of 350-430 MW in Gardabani municipality (Kvemo Kartli region).

Power engineer Gia Arabidze welcomes plans for construction of the new station.

conflict and court

TABULA: “SINGAPORE COURT CHARGED “CREDIT SUISSE” TO PAY $926M TO IVANISHVILI”

May 29, 2023 - Singapore court has charged Swiss bank Credit Suisse to pay compensation of $926 million to Bidzina Ivanishvili (billionaire founder of Georgia’s ruling Georgian Dream). The case concerns damage, inflicted to Ivanishvili by fraudulent transactions of his former personal banker.

transport & communications

NETGAZETI.GE: “CONSTRUCTION OF NEW RUNWAY IS PLANNED AT KUTAISI AIRPORT”

May 30, 2023 - LLC Georgian Airports Association plans to build a new runway at Kutaisi airport. In order to determine the estimated cost of designing, the state-owned LLC conducts a market research.

agriculture & food

REZONANSI: “HOW MUCH 1 SACK OF FLOUR WILL COST IN 2 WEEKS, WHAT KIND OF BREAD WILL KEEP ITS PRICE AND WHAT WILL BECOME MORE EXPENSIVE?”

May 30, 2023 - Supposedly, from June 10, the Georgian government plans to introduce a fee on flour import for a period of 5 months. In particular, fee on import of 1 t of flour will make up 200 lari, which will cause 1 sack of flour to increase in price by 12 lari, although the price of bread will remain, the newspaper says.

tourism

BANKEBI DA FINANSEBI: “TORNIKE RIZHVADZE – WE EXPECT OVER 4M VISITORS IN AJARA THIS YEAR”

May 31, 2023 - In a few days, the seaside tourist season will be officially opened in Ajara. This year, we expect over 4 million visitors, and Batumi will be central to this issue, said chairman of Ajara government Tornike Rizhvadze.