Economic Press Monitor September 25 - October 1, 2022	Days:  17 24 01 08 15

economic & politics

NETGAZETI.GE: “KEZERASHVILI CANNOT BE AN OLIGARCH, HE HELPS THE OPPOSITION – INTERVIEW WITH KHABEISHVILI”

September 28, 2022 - Nika Melia, chairman of the oppositional United National Movement (UNM), called David Kezerashvili (defense minister in the government of UNM and founder of the TV company Formula) an “oligarch-like person”.

In this connection, Netgazeti.Ge applied for commentary to Levan Khabeishvili, MP and one of the leaders of the UNM.




NETGAZETI.GE: “INTERIOR MINISTRY: IN THE PAST 10 DAYS, 78,742 RUSSIAN CITIZENS ARRIVED IN GEORGIA”

September 28, 2022 - Referring to Georgian Interior Ministry, Netgazeti.Ge reports that during September 17-26, 78,742 Russian citizens arrived in Georgia and 62,120 left the country.

The Interior Ministry indicated also recent increase in number of those citizens, who were not allowed to enter the territory of Georgia for reasons stipulated by law.




BANKEBI DA FINANSEBI: “FINANCE MINISTER – CUSTOMS AND BORDER CONTROL IS IMPLEMENTED IN ACCORDANCE WITH ESTABLISHED PROCEDURE – THERE IS ABSOLUTELY NO DRAMATIC SITUATION IN CONNECTION WITH BORDER CROSSING”

September 27, 2022 - Georgia’s Finance Minister Lasha Khutsishvili declared that because of increased inflows of people, wishing to enter Georgia from Russia, the relevant state agencies are working with a greater load.

“Flows have increased both in terms of cargo and in terms of the number of individuals entering”, the Minister told the journalists today.




NETGAZETI.GE: “IT BECAME KNOWN HOW MANY PEOPLE CROSSED RUSSIA-GEORGIA BORDER AFTER MOBILIZATION”

September 27, 2022 - Referring to Russian sources, Netgazeti.Ge reports that during the week over 37,000 cars and 115,000 people crossed in both directions the customs checkpoint “Zemo Larsi” (Upper Lars) on the Russian-Georgia border.

The newspaper mentions photos, spread on social media, which show Russian armored vehicles at the checkpoint.




BANKEBI DA FINANSEBI: “UPON SALE OF GEORGIA-MADE WHEAT PRODUCTION, SPECIAL RULE OF USING AN ELECTRONIC TAX INVOICE WILL BE IN EFFECT”

September 26, 2022 - Georgian Revenue Service reported that in order to promote agricultural production in Georgia, a special rule of using an electronic tax invoice will be in effect. The article specifies that the change will apply to Georgian wheat productions.




BANKEBI DA FINANSEBI: “BUSINESS ASSOCIATION OF GEORGIA HELD MEETING WITH LEADERSHIP OF REVENUE SERVICE IN CONNECTION WITH CHANGES PLANNED IN RETAIL SECTOR”

September 26, 2022 - Business Association of Georgia held a meeting with the leadership of the Georgian Revenue Service in connection with the changes, planned in the retail sector, the newspaper reports.

Levan Tsitelashvili, deputy head of the Revenue Service, indicated that for certain types of non-food production, in particular, for hygienic and chemical products, it is planned to set the norm of loss at 0.5%.

macroeconomics & budget

REZONANSI: “BUSINESS DEMANDS STAFF, BUT CANNOT RAISE SALARIES – PEOPLE CONSIDER SALARY INSUFFICIENT, BUT THEIR QUALIFICATIONS ARE NOT GOOD”

September 29, 2022 - It seems that many people in Georgia are in search of job, but at the same time, there is a high unemployment rate and a problem of employment in the country, especially in the regions, the newspaper says.

Statistician Givi Momtselidze indicates that “first of all, the problem is remuneration”, and “there is also a problem of qualification”.

energy, oil & gas

REZONANSI: “TAKING WORLD MARKET INDICATORS INTO ACCOUNT, THERE ARE EXPECTATIONS OF CONTINUATION OF THE DOWNWARD TREND IN FUEL PRICES IN GEORGIA – GIORGI KAKAURIDZE”

September 29, 2022 - Giorgi Kakauridze, Georgia’s Deputy Finance Minister, indicated significant decrease of fuel price on the international market since June. Accordingly, this affects the fuel price in Georgia, he said.

companies

BATUMELEBI: “AT A SYMBOLIC PRICE, FOR 1 LARI – “AMBASSADOR” ASKS THE GOVERNMENT FOR LAND PLOT”

September 29, 2022 - The Ajara government is going to hand over another land plot to LLC Ambassador Batumi Island at a symbolic price of 1 lari. Batumi Sakrebulo (city council) plans to consider this issue at a meeting on September 29.

transport & communications

TABULA: “CITY HALL PLANS TO EXPAND TUNNEL AT “STATION SQUARE” SUBWAY STATION AND ENTRANCE TO “AKHMETELI””

September 29, 2022 - Tbilisi Mayor Kakha Kaladze declared that there is a problem at the entrance to Akhmeteli Theater subway station, especially during rush hours.

“There was one more entrance in the original project, which is currently a private territory, and the municipality plans to return it”, the Mayor said, noting that work is underway with the Asian Development Bank (ADB) on implementation of the second entrance project.

finances & banking

FORBES GEORGIA: “IN TERMS OF EXPENSIVE BANK LOANS, GEORGIA RANKS 32^ND IN THE WORLD”

September 27, 2022 - The World Bank (WB) reported that at the end of 2021, the average interest rate on Georgian banks’ loans made up 12.5%. According to this indicator, Georgia ranked 32^nd among 131 countries, the magazine says.




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, UK-GEORGIA FINTECH FORUM WAS HELD FOR THE FIRST TIME”

September 26, 2022 - The UK-Georgia Fintech Forum was held in Georgia for the first time. The event, supported by Sakartvelos Banki (Bank of Georgia), was organized by the UK Department for International Trade in partnership with DataFest Tbilisi and Grant Thornton, the magazine reports.

agriculture & food

BANKEBI DA FINANSEBI: “PRICE OF ONE SACK OF FLOUR DECREASED BY 13 LARI – WHAT CAUSED CHANGE OF PRICE?”

September 30, 2022 - Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, declared that price of wheat has declined on the world markets, and in Georgia the price of 1 sack of high-quality flour makes up 72 lari now instead of the previous 85 lari.

Two factors – the so-called corridor of Ukraine (delivery of grain from the ports of Ukraine) and very reach wheat harvest in Russia caused price reduction, Silagava said, noting that the floating customs duty in Russia has also decreased significantly.




REZONANSI: “IN ABOUT 2 WEEKS, SUNFLOWER OIL WILL DECREASE IN PRICE FURTHER”

September 28, 2022 - From October, the floating customs duty for export of sunflower oil, which Russia imposed in September 1, 2021, will become zero. As a result, importers expect the reduction of price of sunflower oil supplied from Russia.




REZONANSI: “CORN AND CHEESE WILL RISE IN PRICE EVEN MORE! – THE SITUATION WILL NOT CHANGE UNTIL SPRING AT LEAST”

September 27, 2022 - A few months ago, it was possible to buy corn flour for 3-4 lari (per 1 kg), while the price has increased now by 2-3 lari, the newspaper says. Farmers attribute this to a poor harvest caused by bad weather.

construction

REZONANSI: “WILL REAL ESTATE IN TBILISI RAISE IN PRICE FURTHER BECAUSE OF A NEW WAVE OF RUSSIAN MIGRANTS?”

September 30, 2022 - In Georgia, especially in Tbilisi, the demand for apartments has grown so much that it is no longer balanced by the supply, the newspaper says. Such a situation in the country arose after the outbreak of the Russian war in Ukraine and continues today, the article notes.

tourism

REZONANSI: “NEW WAVE OF MIGRATION DID NOT HAVE A BIG IMPACT ON HOTELS AND RESTAURANTS”

September 30, 2022 - Irakli Kokaia, head of Inn Group, says that the new wave of migrants has increased the demand for hotels in Georgia. “Not in the regions, but demand in Tbilisi is evident”, he notes.