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Economic Press Monitor

September 26 - October 2, 2021

Previous Issues:  Days: < 18 25 02 09 16 > 

 

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economic & politics

    REZONANSI: “THE GOVERNMENT DEMONSTRATES PRINCIPLE STAND: LANDS WILL NOT BE ALIENATED TO FOREIGNERS IN FUTURE TOO”

    October 1, 2021 - Levan Davitashvili, Georgia’s Minister of Environmental Protection and Agriculture, confirmed to media that the country’s government does not plan at this stage to revise the decision on alienation of agricultural land to foreigners.

    “Georgian land belongs only to individuals and legal entities, existing in Georgia, which is clearly defined by the law and the Constitution”, Davitashvili declared.


    NETGAZETI.GE: “LET OPPONENTS NOT REJOICE, INFORMATION ABOUT CANCELLATION OF VISA-FREE REGIME IS A LIE – ZALKALIANI”

    September 30, 2021 - Georgia’s Foreign Minister David Zalkaliani declared that information about alleged plans of the EU to consider cancellation of the visa-free regime for Georgia is a lie. About possible cancellation of the regime was reported by EUobserver.


    TABULA: ““EUOBSERVER”: EU CONSIDERS CANCELLATION OF VISA-FREE REGIME FOR GEORGIA AND BALKAN COUNTRIES”

    September 30, 2021 - EUobserver reported that on October 13, the EU plans to consider restriction of visa-free travel for citizens of West Balkan countries, Georgia, Ukraine and Moldova.

    According to the publication, reason of this is growth of cases of illegal residence and groundless applications for asylum by citizens of these countries.


    FORBES GEORGIA: “IN “FORBES” LIST OF BILLIONAIRES, IVANISHVILI OUTRUN LOMTADZE”

    September 29, 2021 - Georgia’s ex-premier Bidzina Ivanishvili holds the 637th place in the billionaires’ list of Forbes, while the founder of the Kazakh fintech company Kaspi Mikheil Lomtadze – the 646th, the magazine reports. While in August, Lomtadze outrun Ivanishvili.


    TABULA: ““EDISON RESEARCH”: 43% OF POPULATION WOULD VOTE FOR KALADZE, 30% – FOR MELIA, 12% – FOR GAKHARIA”

    September 28, 2021 - Edison Research conducted a survey on request of oppositional TV company Formula, which shows that on elections of Tbilisi Mayor (to be held on October 2), 43% of respondents would vote for ruling Georgian Dream’s candidate, current Mayor Kakha Kaladze. Nika Melia, candidate of major oppositional party, National Movement, can count for 30%, while 12% would vote for Giorgi Gakharia (For Georgia), ex-premier in Georgian Dream’s government.


    NETGAZETI.GE: “ECONOMY OF TBILISI – VISIONS OF MAYOR CANDIDATES ”

    September 27, 2021 - Netgazeti.Ge asked candidates on the post of Tbilisi Mayor (elections in local self-government bodies will be held in Georgia on October 2), about their steps to grow the capital’s economy. In 2019, the share of Tbilisi in Georgia’s GDP made up 51.2%

    Netgazeti.Ge pointed that among other issues, some opposition parties name creation of new centers of attractiveness and moving of the railway away from the city center (the project, started during the rule of National Movement, which was stopped under Georgian Dream).


    NETGAZETI.GE: “KALADZE – 41%, MELIA – 36%, GAKHARIA – 13% – RESEARCH ON REQUEST OF “MTAVARI ARKHI””

    September 27, 2021 - Research, conducted by IPSOS SA on request of oppositional TV company Mtavari Arkhi (Main Channel), shows that a second round will be held at elections of Tbilisi Mayor (elections in local self-government bodies will be held in Georgia on October 2).

    The survey showed that 41% of respondents will vote for Kakha Kaladze (ruling Georgian Dream), 36% – for Nika Melia (National Movement), 13% – for Giorgi Gakharia (For Georgia).


macroeconomics & budget

    REZONANSI: “SURPRISE: NBG SOLD $60M AT ONCE”

    October 1, 2021 - Over the past few months, lari has been stabilizing, and the exchange rate fluctuates within 3.1-3.12 GEL/USD, the newspaper says. However, at a currency auction on September 30, National Bank of Georgia (NBG) has sold $60 million.


    BANKEBI DA FINANSEBI: “THEA GODOLADZE’S CENTER, DUE TO LACK OF TRANSPARENCY AND BUDGET MISSPENDING, WILL NOT RECEIVE STATE FUNDING ANYMORE – ARCHIL KAIKATSISHVILI”

    September 30, 2021 - Archil Kaikatsishvili, head of Georgian non-governmental organization Young Barristers, believes that the National Center for Seismic Monitoring at Georgian Institute of Earth Sciences, headed by Thea Godoladze, should not be funded from the state budget.

    The reason, according to Kaikatsishvili, is the fact that the Center does not meet elementary transparency standards.


    BANKEBI DA FINANSEBI: “WHY SHOULD PARTNERSHIP FUND BE FINANCED FROM THE BUDGET? – “WE ARE LEFT WITHOUT INCOME””

    September 29, 2021 - Starting from 2022, Georgian Partnership Fund could be financed from the state budget.

    Until now, our income was dividends, received from state-owned enterprises, but we have passed some of them to the Economy Ministry, the head of the Fund David Saganelidze told the news agency bm.ge.


    BANKEBI DA FINANSEBI: “LASHA KHUTSISHVILI – ALL THREE RATING COMPANIES ESTIMATE THAT GEORGIA HAS RETURNED TO PRE-PANDEMIC SITUATION”

    September 28, 2021 - Lasha Khutsishvili, Georgia’s Finance Minister, declared that all three rating companies (Fitch, S&P, Moody’s) estimate that Georgia has returned to the pre-pandemic situation. “The main factor that caused Georgia to return to pre-pandemic indicators is the firm macroeconomic policy, pursued by the country”, he pointed.


energy, oil & gas

    BANKEBI DA FINANSEBI: “FIGURES, WHICH ARE MORE THAN STATISTICS...”

    September 30, 2021 - Actually, total cost of electricity, which Georgia imported for the past 20 years, would be sufficient for construction of a hydroelectric power station like NamakhvanHES, statistician Soso Archvadze posted on his Facebook page.

    According to Archvadze’s calculations, Georgia’s import of electricity in the current century (2001-2021) exceeds $900 million (in prices of 2021).


    NETGAZETI.GE: “ENERGY CONSUMPTION OF ABKHAZIA – WHY RUSSIA HAS BECOME THE MAIN ENERGY IMPORTER”

    September 28, 2021 - For 8 months of this year, Georgia imported 1.71 billion kWh of electricity from neighboring countries, in which Russia accounted for 61.15%. 88% of import from Russia was directed to meet consumption of de-facto independent Abkhazia.


    TABULA: “TURNAVA: OUR MAIN TASK IS THAT “NAMAKHVANI” PROJECT BE IMPLEMENTED, WE FEEL RESPONSIBILITY”

    September 28, 2021 - “Our main task is that the NamakhvanHES project be implemented”, declared Natia Turnava, Georgia’s Minister of Economy and Sustainable Development. “With the improved conditions, with more safety, but it must be implemented – that’s what we feel responsible for”, she emphasized.


    BANKEBI DA FINANSEBI: “KALADZE ON “NAMAKHVANHES” – IT IS NECESSARY TO FIND OTHER INVESTMENT COMPANIES, WHICH WILL IMPLEMENT THIS PROJECT”

    September 27, 2021 - Tbilisi Mayor Kakha Kaladze declared that it is very bad that the investor company of NamakhvanHES ENKA Renewables (a subsidiary of Turkish ENKA) terminates the contract with Georgian government and refuses implementation of the project worth $800 million.

    “It is necessary to find other investment companies, which will implement this project”, Kaladze considers.


companies

    FORBES GEORGIA: “EBRD AND IFC ACQUIRED STAKES IN “TBC UZBEKISTAN””

    October 1, 2021 - In Tashkent, TBC PLC (TBC Bank Group) signed a partnership agreement with International Finance Corporation (IFC, part of the World Bank Group) and EBRD, the magazine reports.

    According to the agreement, EBRD and IFC will become by the end of 2021 owners of per 20% in TBC Uzbekistan, Uzbek affiliate of TBC.


    BANKEBI DA FINANSEBI: “REGULATORY AGENCY CHECKED 40 PHARMACEUTICAL ENTERPRISES IN TBILISI AND REVEALED VIOLATIONS IN 33 OF THEM”

    October 1, 2021 - Georgian Agency for Medical Activities Regulation checked 40 pharmaceutical enterprises, operating in Tbilisi, and revealed violations in 33 of them, the newspaper reports.

    According to the Agency, all these 33 enterprises violated terms of permission, while in 22 cases – rules for pharmaceutical production.


    FORBES GEORGIA: “MADE IN GEORGIA – IN EUROPE”

    September 27, 2021 - Furniture and accessories for pets, made by Georgian company Georgian Products, have been sold on European market for 7 years already. Establishment of our company is connected with free trade agreement, signed with the EU (DCFTA), which provides opportunity for Georgian products to enter the European market with customs privileges, the company notes.


ecology & health

    BANKEBI DA FINANSEBI: “WITHIN PROJECT OF $2.8M, JAPAN HANDED OVER 110 DEFIBRILLATORS AND 155 ELECTROCARDIOGRAPHS TO GEORGIA”

    September 29, 2021 - Japan handed over 110 defibrillators and 155 electrocardiographs to Georgia within the project of $2.8 million, the newspaper reports.

    The article indicates that within the framework of the first major project of this year, Japan allocated $2.5 million to Georgia through the Asian Development Bank (ADB) for fight against the pandemic.


construction

    TABULA: “TO WHOM TERRITORY OF 90 HA IN BATUMI WAS HANDED OVER AND WHO WILL BUILD A $100M ARTIFICIAL ISLAND?”

    September 29, 2021 - Georgian government decided to build in Batumi an artificial island, resembling Dubai’s palm tree island. The right to build the island, which investment cost makes up $100 million, was granted to the Ambassador Group, as well as the territory of 90 ha was handed over to it, Tabula reports.


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  10/19/21 + / -
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