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Economic Press Monitor

August 1 - 7, 2021

Previous Issues:  Days: < 10 17 24 31 07

 

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economic & politics

    TABULA: “IRI SURVEY: FOR 64% OF POPULATION, THE MOST IMPORTANT PROBLEM OF THE COUNTRY IS UNEMPLOYMENT”

    August 3, 2021 - Survey, conducted in Georgia by International Republican Institute (IRI), show that the most important problem for 64% of the population is unemployment.

    For 45%, the main challenge is cost of living and high prices, Tabula reports.


    TABULA: “IRI: IF ELECTIONS WERE THIS SUNDAY – “GEORGIAN DREAM” – 26%, “UNM” – 14%, “FOR GEORGIA” – 9%”

    August 3, 2021 - Survey, conducted in Georgia by International Republican Institute (IRI), show that if local elections were held next Sunday, 26% of the population would vote for the ruling Georgian Dream. 14% would vote for the United National Movement (UNM), while 9% – for the party For Georgia (established by Giorgi Gakharia, who resigned from the post of the Prime Minister of the current government).


    FORBES GEORGIA: “FOREIGN STUDENTS: FUTURE OF GEORGIAN EDUCATION SECTOR (AND OF THE ECONOMY?)”

    August 2, 2021 - More than 14,000 foreign students are studying at Georgian universities today, and it is interesting that even during the pandemic, their number increased by almost 10%, the article says.

    Half of the students are Indians (53%), being followed by Azeris (6%) and Israelis (5%).


    REZONANSI: “FOR THE FIRST TIME DURING THE PANDEMIC: THE COUNTRY WILL PASS THE WAVE OF CORONAVIRUS WITHOUT LOCKDOWN AND RESTRICTIONS”

    August 2, 2021 - This is the first time, when we will pass a quite high wave of COVID-19 without lockdown and restrictions, the newspaper indicates. Some time ago, Georgia’s Prime Minister Irakli Garibashvii promised to the business that there will be no lockdown, the article reminds.


macroeconomics & budget

    REZONANSI: “LARI WILL STRENGTHEN A LITTLE MORE, CURRENCY FLUCTUATIONS ARE NOT EXPECTED UNTIL LATE AUTUMN”

    August 5, 2021 - Doctor of economics Nika Shengelia forecasts that in the next 20 days, lari exchange rate will fluctuate within the range of 3.05-3.14 GEL/USD. In any case, there will be no depreciation, he believes and points that National Bank of Georgia (NBG) has mobilized reserves of $4 billion.


    BANKEBI DA FINANSEBI: “KOBA GVENETADZE: THERE IS NO NEED FOR CURRENCY INTERVENTIONS AT THIS STAGE, WE WILL CONTINUE WHEN THE NEED ARISES”

    August 5, 2021 - “We sold $916 million last year, and we have sold about $260 million this year”, declared Koba Gvenetadze, president of National Bank of Georgia (NBG). “We will continue interventions when the need arises”, he said, although added that “there is no need at the moment”.


    BANKEBI DA FINANSEBI: ““DOUBLE-DIGIT ECONOMIC GROWTH, FIXING OF WHICH SEEMS REAL FOR NOW, WILL BE NEUTRALIZED BY INFLATION””

    August 4, 2021 - In July, annual inflation in Georgia made up 11.9%, and according to forecast of National Bank of Georgia (NBG), inflation will begin to decrease in 2022.

    Bachana Jincharadze, analyst at Young Financiers and Businessmen Association, estimates that “double-digit economic growth, fixing of which seems real for now, will be neutralized by inflation”.


companies

    FORBES GEORGIA: “SPORTS MEDICINE CENTER TO BE BUILT IN TBILISI WITH INVESTMENT OF SEVERAL MILLIONS OF LARI”

    August 3, 2021 - A sports medicine center will be built on Bokhua Street in Tbilisi, investment in which already exceeds 7 million lari, the magazine reports. The project on an area of 3,200 square m is implemented by the New Vision University.


transport & communications

    FORBES GEORGIA: “ANAKLIA PORT IN THE FACE OF UNFORESEEN DANGERS”

    August 4, 2021 - The magazine points that in case Russia succeeds in implementation of new projects, the transport corridor through Georgia and the country’s ports will face reality of cargo loss. This may additionally delay for indefinite time possibility to resume currently suspended construction of Anaklia deep-water port in Georgia, the article says.


international cooperation

    TABULA: “THE US APPROVED POSSIBLE SALE TO GEORGIA OF “JAVELIN” MISSILES WORTH $30M”

    August 4, 2021 - The US Defense Security Cooperation Agency has approved possible sale to Georgia of Javelin missiles and related equipment worth $30 million, Tabula reports.

    Georgian authorities have requested purchase of 82 FGM-148 Javelin missiles and 46 command launch units (CLU) from the US.


ecology & health

    TABULA: “IRI SURVEY: 45% OF THE POPULATION WILL NOT GET VACCINATED AGAINST COVID-19”

    August 3, 2021 - As part of a survey, conducted in Georgia by International Republican Institute (IRI), a question was asked: “As the COVID-19 vaccine becomes more widely available and the vaccination process continues, what will be your decision?”.

    The survey revealed that 45% of respondents will not get vaccinated against COVID-19.


agriculture & food

    BANKEBI DA FINANSEBI: “GEORGIA CAN PRODUCE 60% OF NECESSARY WHEAT”

    August 2, 2021 - The newspaper publishes an open letter to Georgian Prime Minister, in which academician Paata Koguashvili and chairman of Georgian Bread Producers Association Malkhaz Dolidze speak about wheat production.

    The authors note that Georgia is known for endemic and native varieties of wheat.


construction

    FORBES GEORGIA: “CONSTRUCTION SECTOR AND THE PANDEMIC”

    August 5, 2021 - In 2020, against the background of the pandemic, Georgian construction sector shrunk by 4.7%, while entire Georgia’s economy – by 6.2%.

    The article notes that in 2014-2017, construction was the fastest growing sector in Georgian economy, increasing by 15.5% annually on average, i.e. 4 times higher than Georgian economy in general.


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Exchange Rates (NBG)
  08/05/21 + / -
  USD   3.0927   0.0095
  EUR   3.6624   0.0156
  RUR   4.2282   0.0268
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