Economic Press Monitor April 21 - 27, 2024	Days:  30 06 13 20 27

economic & politics

FORBES GEORGIA: “SANCTIONS AGAINST IVANISHVILI AND REVISION OF VISA-FREE REGIME – WHAT IS WRITTEN IN THE RESOLUTION OF THE EUROPEAN PARLIAMENT?”

April 26, 2024 - The resolution supported by the European Parliament puts on hold negotiations on Georgia’s accession to the EU until Georgian authorities do not withdraw the bill “On Transparency of Foreign Influence” (the so-called “Russian Law”).

The bill, which was adopted by Georgian Parliament in first hearing on April 17, triggered eruption of mass protests in the country.




BATUMELEBI: “US HANDED EQUIPMENT OF OVER $13M TO GEORGIA TO STRENGTHEN THE BORDER”

April 25, 2024 - The US handed over technical equipment (X-ray devices) worth $13 million to Georgia, the US embassy declared. The equipment was given to the Revenue Service.




TABULA: “IN CASE OF PASSING THE GROUP, “CARTU” PROMISES THE FOOTBALL TEAM 30M LARI”

April 24, 2024 - For passing the subgroup at the European Championship, Cartu fund promises to pay the Georgian national football team 30 million lari as an award.

In addition, the fund will award the national team with 30 million lari for each subsequent victory at the European Championship.




BANKEBI DA FINANSEBI: ““TAX AMENDMENTS ALLOW US TO ATTRACT MORE CAPITAL, INVESTMENT, PROPERTY AND BE ATTRACTIVE TO INVESTORS””

April 23, 2024 - This law allows us to attract more capital, more investment and more property to the country, Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili says about the amendments to Georgian Tax Code.

According to Davitashvili, this is “an absolutely adequate law”.




NETGAZETI.GE: “HEALTHCARE MINISTER HAS THREE NEW DEPUTIES”

April 23, 2024 - Georgia’s Healthcare Minister Mikhail Sarjveladze has three new deputies.

Irina Tsakadze and Giorgi Pataridze are Sarjveladze’s former employees from the time of his work in the Justice Ministry of Georgia.




NETGAZETI.GE: “WE RECEIVED A NUMBER OF NEGATIVE REVIEWS FROM FOREIGN INVESTORS – EBA REQUESTS WITHDRAWAL OF RUSSIAN LAW”

April 21, 2024 - The European Business Association (EBA) appeals to the Parliament of Georgia with a request to withdraw the bill “On Transparency of Foreign Influence” (the so-called “Russian Law”, adopted in first hearing on April 17).

“This bill not only undermines Georgia’s aspirations to join the EU, but also poses a significant threat to them”, the EBA letter of April 17 said.




FORBES GEORGIA: “MOST SOUGHT-AFTER SPECIALTIES IN GEORGIAN UNIVERSITIES”

April 21, 2024 - About 35,000 applicants are enrolled annually for master’s programs in Georgia, and up to 70% of them make a choice among 10 areas.

Apart from professions with good job opportunities, the most popular programs include also those, which graduates find difficult to find a job in Georgia today, the magazine says.

macroeconomics & budget

BANKEBI DA FINANSEBI: “WHAT PLACE GEORGIA OCCUPIES BY AVERAGE SALARY?”

April 26, 2024 - According to the rating of the Numbeo database, Georgia ranks 71^st among 96 countries in terms of average salary. The average monthly salary after taxes in Georgia amounts to 1,300 lari.




REZONANSI: “TENSE POLITICAL SITUATION HAS ALREADY PARTIALLY AFFECTED LARI”

April 25, 2024 - Over the past few days, lari rate has fluctuated significantly, the newspaper says, noting that to some extent, this process is associated with the domestic political situation in the country. As of April 25, the rate of National Bank of Georgia made up 2.691 GEL/USD.




FORBES GEORGIA: “IN TERMS OF INCOME PER CAPITA, GEORGIA RANKS 78^TH IN THE WORLD”

April 24, 2024 - According to the IMF, Georgia ranks 78^th among 191 countries in terms of average annual income per capita.

The ranking is based on actual data of 2023, according to which Georgia’s income per capita, adjusted to PPP (purchasing power parity), in 2023 amounted to $23,237.

energy, oil & gas

BANKEBI DA FINANSEBI: “FIRST FLOATING SOLAR STATION COMMISSIONED IN GEORGIA”

April 24, 2024 - In the village of Lemshveniera of Gardabani municipality (Kvemo Kartli region), Georgia’s first floating solar station was commissioned.

The plant is expected to generate 300,000 KWh annually, which will be used to irrigate the surrounding orchards.




REZONANSI: “IF ELECTRICITY CANNOT BE EXPORTED IN LARGE VOLUMES, HYDROELECTRIC POWER STATION WILL HAVE TO STOP WORK AND DRAIN WATER”

April 24, 2024 - In 2023, a record volume of electricity was exported from Georgia – 1.47 billion kWh, which is 51% more than in 2022, and export revenues amounted to $103 million.

Georgian Ministry of Economy and Sustainable Development forecasts that this year, 800 million kWh will be exported from the country that is almost a half of last year’s showing.




REZONANSI: “FUEL PRICE STABILITY ACHIEVED IN RETAIL NETWORK”

April 23, 2024 - “Now, there is stability on global oil-products’ markets, and similar situation is in Georgia too”, declares Vakhtang Iobashvili, head of Georgian Oil-Product Importers Union. “Large brand companies also said that stability has been achieved and no sharp changes are expected”, he says.

conflict and court

TABULA: “4 PERSONS DETAINED ON CHARGES OF ORGANIZATION AND ARRANGEMENT OF SO-CALLED CALL CENTERS – PROSECUTOR’S OFFICE”

April 23, 2024 - On charges of organization of so-called call centers, 4 more members of an organized criminal group were detained, Georgian Prosecutor’s Office reported. The punishment envisages imprisonment for a term of 9 to 12 years.

companies

FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, “ADJARA COLLECTIVE” IS IMPLEMENTING THE RADIO CITY PROJECT”

April 26, 2024 - With the support of Sakartvelos Banki (Bank of Georgia), Adjara Collective is implementing a project to arrange an innovative and multifunctional space on the territory of 16 ha in Tbilisi (Gldani-Mukhiani district).

Development of the so-called “Radio City” (the name has been preserved since the time when it was planned to build a radio plant on this territory) began in 2023, and the first stage of the project will be completed in this September.




BANKEBI DA FINANSEBI: ““GLDANI MALL” EXPANDS WITH SUPPORT OF “SAKARTVELOS BANKI””

April 25, 2024 - IG Development Georgia is implementing a project to reconstruct and expand its Tbilisi shopping center City Mall Gldani. Works, which began this year, will be completed in 2026.




NETGAZETI.GE: “LOW-BUDGET DUTCH AIRLINE “TRANSAVIA” ENTERED GEORGIA”

April 21, 2024 - The Dutch low-budget airline Transavia launched flights between Amsterdam and Tbilisi. The airline will operate direct scheduled flights 2 times a week.