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Economic Press Monitor

October 14 - 20, 2018

Previous Issues:  Days: < 22 29 06 13 20

 

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economic & politics

    TABULA: “EXPERT OF “2030” AND DONOR OF “DREAM” IS APPOINTED THE EXECUTIVE DIRECTOR OF NBG”

    October 16, 2018 - Vakhtang Burkiashvili, former consultant of 20/30 (economic program of GDS broadcasting company, established by Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream), is appointed the executive director of National Bank of Georgia (NBG), Tabula reports.

    Burkiashvili will replace Giorgi Melashvili, who resigns in order to move to private sector.


    KVIRIS PALITRA: “THE ONLY WAY REMAINS TO AUTHORITY – EARLY PARLIAMENTARY ELECTIONS, AS SOON AS POSSIBLE”

    October 15, 2018 - While commenting on case of Omega Group in an interview to the newspaper, politics expert Vakhtang Dzabiradze declares that he has reasonable suspicions that Zaza Okuashvili (founder of the Group) himself acted illegally too. Hidden records, published by Okuashvili, show that participants of recorded conversations tried to conclude the bargain for write-off of the Croup’s tax arrears, he says.


    KVIRIS PALITRA: “PARTSKHALADZE’S “CONFESSION” – THE PROSECUTOR ACCUSED OF PREDATORY THEFT…”

    October 15, 2018 - Lawyer of former main prosecutor Otar Partskhaladze named as income source of his client the plant of composite parts of planes, which did not start operation so far.

    The authorities has no suspicions even when Georgian Partnership Fund, which participates in this plant together with Israeli Elbit Cyclone, categorically denied Partskhaladze’s connection with this project, the article says.


macroeconomics & budget

    NETGAZETI.GE: ““SAKSTAT”: IN 2017, LESS MIGRANTS LEFT GEORGIA IN COMPARISON WITH PREVIOUS YEAR”

    October 16, 2018 - Referring to Sakstat, Netgazeti.Ge reports that 85,451 people emigrated from Georgia in 2017, including 47,770 men and 37,681 women, while in 2016 – 98,288 people (55,255 men and 43,033 women).

    As the article notes, biggest part of emigrants both in 2017 and in 2016 was from age group of 25-29 years.


    FORBES GEORGIA: “AUTUMN EXAM OF LARI”

    October 16, 2018 - In August, lari depreciated during a week from 2.45 GEL/USD to 2.63 GEL/USD, which reason was named devaluation of Turkish lira and conversations about development of economic crisis in Turkey (key trade partner of Georgia), the magazine reminds.

    However, the stir, caused by devaluation of Turkish lira, has calmed down, and lira has strengthened in September by 7%, while lari exchange rate has stopped near 2.6 GEL/USD, the article specifies and adds: it seems that there was something else occurred.


companies

    FORBES GEORGIA: “IN NEXT 5 YEARS, GOGC EXPECTS GROWTH OF INCOME TO BILLION”

    October 15, 2018 - Georgian Oil and Gas Corporation (GOGC, 100% belong to Georgian Partnership Fund), expects by 2023 growth of the income to 1.34 billion lari, the magazine reports with reference to investment company Galt&Taggart.

    Among grounds of the forecast, the article indicates project of underground gas storage, business diversification, TANAP project, etc.


transport & communications

    FORBES GEORGIA: “BAKU-TBILISI-KARS CAN COMPETE WITH THE NORTHERN ROUTE”

    October 16, 2018 - Baku-Tbilisi-Kars railway route, which is mentioned sometimes as “Silk Railway”, can become a leader of rail transportation in Georgia, the article states.

    In order the project could be considered successful, 4 million t of freights have to be transported annually on this section, which is not so easy business against the background of general reduction of freight turnover, the article points.


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Exchange Rates (NBG)
  10/16/18 + / -
  USD   2.6855   0.0191
  EUR   3.1095   0.0170
  RUR   4.1008   0.0380
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