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Economic Press Monitor

June 16 - 22, 2024

Previous Issues:  Days: < 25 01 08 15 22

 

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economic & politics

    REZONANSI: “FIRST OPEN CONFRONTATION WITH NEW US AMBASSADOR – WHAT STATEMENT RELEASED “KHALKHIS DZALA” AND WHAT QUESTIONS ROBIN DUNNIGAN HAS”

    June 21, 2024 - One of the main topics discussed by US ambassador to Georgia Robin Dunnigan in her interview with the news agency InterPressNews on June 18 was construction of Anaklia port.

    The ambassador indicated that the Chinese company (CCCC), selected by the Georgian government as a partner in the project, “does not have a good reputation in the world”.


    TABULA: “HERCZYNSKI: THE LAW ON FOREIGN INFLUENCE FROZE THE EUROPEAN INTEGRATION OF GEORGIA”

    June 20, 2024 - The Law “On Transparency of Foreign Influence” undoubtedly had a negative impact on Georgia’s prospects for progress, indicated Pawel Herczynski, EU ambassador to Georgia. Adoption of this law froze the European integration of Georgia, he stressed.


    NETGAZETI.GE: ““THIS IS AN ACTUAL ASSESSMENT, NOT THE OPINION THAT IT WILL HAVE A NEGATIVE IMPACT ON EUROPEAN INTEGRATION” – STANO ON RUSSIAN LAW”

    June 19, 2024 - The adoption of the law “On Transparency of Foreign Influence” (the so-called “Russian Law”) will have a negative impact on Georgia’s path to the EU, declared Peter Stano, EU spokesman for foreign affairs and security policy.

    Adoption of this law means regress in at least 3 out of 9 recommendations of the European Commission (which implementation is necessary to start negotiations on accession to the EU), said Stano.


    TABULA: “KOBAKHIDZE: BEFORE ADOPTION OF THE LAW, CHANCE OF OPENING NEGOTIATIONS WITH THE EU WAS ZERO, NOW – 20-30%”

    June 18, 2024 - The chance of opening negotiations on Georgia’s accession to the EU is now 20-30%, says Georgia’s Prime Minister Irakli Kobakhidze. He claims that before the law “On Transparency of Foreign Influence” was adopted, this chance “was zero”.


    REZONANSI: “DROP OF LARI AND POLITICAL TENSION PUT VEHICLE BUSINESS IN A DIFFICULT SITUATION TOO”

    June 18, 2024 - Today, there is unfavorable situation in terms of sales in all segments, which is accompanied by a difficult situation with re-export, says Lasha Darbaiseli, head of the Georgian Auto Importers Association.

    Darbaiseli indicates that “Georgia has turned from the transfer country into the transit country, which caused significant damage to the sector”.


    BANKEBI DA FINANSEBI: “GEORGIAN BUSINESS ASSOCIATION DISCUSSED INNOVATIONS RELATED TO SUBMISSION OF DECLARATIONS TO PENSION AGENCY AND PROCESS OF FINE ADMINISTRATION”

    June 17, 2024 - At the meeting in the Business Association of Georgia, acting director of Georgian Pension Agency Giorgi Chichinadze acquainted members of the Association with changes in the timing of pension contributions’ declaration.

    The relevant bill was initiated as a result of communication and consultation with the Business Association.


macroeconomics & budget

    REZONANSI: “FURTHER STRENGTHENING OF LARI IS INEVITABLE – SPECULATIONS ON FOREX MARKET END IN NO WAY”

    June 21, 2024 - As sharply lari depreciated, the same way sharply it strengthened – in one day, the rate has strengthened by 6 tetri to 2.7950 GEL/USD, the newspaper says.

    Nika Shengelia, vice president of the International Research and Forecasting Center, believes that the national currency will stay at the first stage at 2.76-2.77 GEL/USD, while will remain then in the interval of 2.75-2.8 GEL/USD.


    BATUMELEBI: “MAINTENANCE OF AJARA SUPREME COUNCIL IN 2025 WILL COST 8M LARI”

    June 17, 2024 - Ajara Supreme Council determined own budget for 2025 in the amount of 8.09 million lari, which is 567,854 lari (7.6%) more than the budget of 2024.

    Size of the Supreme Council staff remains unchanged – 117 people.


conflict and court

    TABULA: “INVESTIGATION INTO DAMAGE TO MAIN PIPELINE IN TSITSAMURI AREA STARTED UNDER 2 ARTICLES”

    June 20, 2024 - The Georgian Interior Ministry launched investigation into damage of the main water supply pipeline near the village of Tsitsamuri under 2 articles – damage by negligence and damage by illegal actions.

    GWP (water supply company of Tbilisi and Mtskheta) asserts that the water supply was damaged as a result of intervention of “third parties”.


companies

    REZONANSI: “WHEN FULL-FLEDGED WATER SUPPLY WILL BE RESTORED – TIMELINE AND DIAGRAMS”

    June 19, 2024 - Work on restoration of the damaged main water supply pipeline is underway in 24-hour mode and, according to the current plan, should be completed no later than in a week, according to GWP (water supply company of Tbilisi and Mtskheta).

    On June 18, representatives of the company reported to the Tbilisi City Hall about the ongoing work to solve the water supply problem in the capital.


    REZONANSI: “MORE THAN 100,000 RESIDENTS OF TBILISI ARE LEFT WITHOUT WATER – “GWP” CANNOT COPE WITH PROBLEMS”

    June 18, 2024 - Because of damage to the main water supply pipeline, part of Tbilisi districts of Vake-Saburtalo and Gldani, as well as city of Mtskheta, do not receive water for almost 2 days. The damaged site is located in the gorge of the Aragvi River.


    TABULA: ““GWP”: WORKING PROCESS COULD DRAG ON, DRINKING WATER TO THE POPULATION WILL BE SUPPLIED BY TANKS”

    June 17, 2024 - As a result of the accident, on June 16, near the village of Tsitsamuri, one of the central main water pipelines of the Tbilisi water supply system was damaged.

    According to GWP (Tbilisi water supply company), the damaged site is under artificially raised geologically unstable soil, which significantly complicates the works.


transport & communications

    BANKEBI DA FINANSEBI: “PAATA KVIZHINADZE – NEITHER AMERICAN NOR EUROPEAN COMPANIES HAVE SHOWN DESIRE IN CONNECTION WITH ANAKLIA PORT”

    June 20, 2024 - Regarding the port of Anaklia, neither American nor European companies have expressed their desire to participate, declared Paata Kvizhinadze, chairman of the Georgian Parliament’s Fiscal Committee.

    Why they did not express desire, it is clear, Kvizhinadze said, explaining that this object is unprofitable without Chinese cargo.


agriculture & food

    REZONANSI: “WHEAT PRICE IS RISING IN THE WORLD, WHILE DEMAND IS INCREASING – WHAT SHOULD BE EXPECTED IN GEORGIA BEFORE END OF THE YEAR?”

    June 18, 2024 - Against the background of rising wheat prices on international markets, cost of 1 sack of flour in Georgia reached 52 lari, “but this is not an alarming situation that could affect the bread price”, declares Malkhaz Dolidze, chairman of the Georgian Bread Producers Union. “There are certain stocks that allow us to maintain the bread price for about 3 months”, he assures.


construction

    NETGAZETI.GE: ““GALT&TAGGART”: IN MAY, APARTMENT SALES IN TBILISI DECLINED BY 7.9%”

    June 21, 2024 - In May, 3,197 apartments were sold in Tbilisi, decreasing in number by 7.9% year-on-year and by 0.7% month-on-month, Galt&Taggart reports.

    The company attributes the decrease to the abundance of holidays in May and the unstable situation in the country.


tourism

    BANKEBI DA FINANSEBI: ““INTERRUPTION OF WATER SUPPLY FOR A WEEK IN TBILISI IS A COLLAPSE – WE ARE TALKING HERE NOT ONLY ABOUT RESTAURANTS, BUT ALSO ABOUT HOTELS THAT DO NOT HAVE WATER TANKS””

    June 19, 2024 - Interruption of water supply in Tbilisi for a week is a collapse, declares Shota Burjanadze, chairman of the Georgian Restaurateurs Association. A week is a period when a restaurant could stop working, due to lack of water, he noted.


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