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Economic Press Monitor

October 27 - November 2, 2019

Previous Issues:  Days: < 19 26 02 09 16 > 

 

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economic & politics

    REZONANSI: “FROM 20 LARI TO 320 LARI – THE LEAP IN MINIMUM WAGE?”

    November 1, 2019 - Georgian United Trade Unions submitted to the Parliament of the country a legislative initiative, which raises minimum wage up to 320 lari a month, i.e. to 30% of average salary. Currently, minimum wage in Georgia makes up 20 lari.


    TABULA: “CHIABERASHVILI: TRANSPORT POLICY OF KALADZE IS AT THE EXPENSE OF THE POOR AND EXPOSURES ELITISM OF “DREAM””

    November 1, 2019 - “What “whitening” of taxi has brought, except price growth?”, questions Zurab Chiaberashvili, MP from oppositional European Georgia (within reform, initiated by Tbilisi City Hall, all taxi cars have to be of white color). “Air pollution has decreased or there are no traffic jams anymore?”, he asks and adds: “What will rise in price of parking bring to the city, where it is almost impossible to find parking place?”.


    TABULA: “DEGNAN: WE WILL CONTINUE FIRM SUPPORT OF GEORGIA IN NATO”

    October 31, 2019 - The US Senate heard on October 29 the candidate for a post of the US ambassador in Georgia Kelly Degnan, Tabula reports.

    As Degnan declared, “we will continue firm support of Georgia, which seeks membership of NATO, economic integration with the EU and the West”.


    REZONANSI: ““THAT WAY, INTERNETIZATION OF VILLAGES WAS PLANNED TOO, BUT NOTHING WAS MADE” – GAMZARDIA ABOUT IVANISHVILI’S PLANS”

    October 30, 2019 - Analyst Archil Gamzardia considers that Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream, with his initiative concerning spa resort Tskaltubo (Ivanishvili plans to buyout all sanatoria and medical baths there) “tries to create positive noise”.

    Authorities needed “some positive noise in order to start governmental propaganda and emphasis was placed again on his [Ivanishvili’s] philanthropy”, Gamzardia declares.


    REZONANSI: “THIS IS NOT A CRIME AND WILL BE ABSOLUTELY LAWFUL OPERATION – GIORKHELIDZE”

    October 30, 2019 - Analyst Demur Giorkhelidze indicates that initiative of Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream, who wants to buyout all sanatoria and medical baths in spa resort Tskaltubo, is a good business.

    “It is a business, someone invests money, there will be a private property, which will produce income, the budget will receive taxes, established by law”, Giorkhelidze specifies.


    NETGAZETI.GE: “TSKALTUBO DID NOT DEVELOP BECAUSE OF IVANISHVILI, WHILE NOW HE PLANS TO GET HOLD OF $700M FOR FREE”

    October 30, 2019 - “In 2009, we started development of Tskaltubo, built new apartments for IDPs and after that began already development of sanatoria”, Georgian ex-president Mikheil Saakashvili declared in his video address on Facebook.

    However, Saakashvili indicated, “Ivanishvili came and stopped everything” (the matter concerns arrival in 2012 to power of Georgian Dream, which founder and leader is billionaire Bidzina Ivanishvili).


    NETGAZETI.GE: “INTERIOR MINISTRY: CYBER-ATTACK COULD BE CONDUCTED BOTH FROM WITHIN THE COUNTRY AND FROM FOREIGN STATE”

    October 29, 2019 - Georgian Interior Ministry declared that cyber-attack, which was conducted on various Georgian web sites on October 28, could be originated “both from within the country and from some foreign state”. The Ministry conducts operational investigative actions at this stage.


    REZONANSI: “KHUKHASHVILI CONSIDERS THAT AUTHORITIES WANT NOT TO RUIN THE ANAKLIA PROJECT, BUT TO SEIZE IT”

    October 28, 2019 - Analyst Gia Khukhashvili considers that Georgian authorities want to remove Anaklia Development Consortium from the project of deep-water port construction in Anaklia and to take charge of the project themselves. “As for destiny of the project itself, the decision will be made after it appears under control” of the authorities, he declares.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “LARIZATION DEPRECIATED LARI”

    November 1, 2019 - Aiming building confidence in lari and economic stabilization, Georgian authorities at the beginning of 2017 have launched campaign of larization, i.e. dedollarization, the newspaper reminds.

    At the first stage, issuing of credits of up to 100,000 lari was permitted only in national currency, but this limit was increased since 2019 up to 200,000 lari, the article specifies.


    REZONANSI: “WHEN WILL PRICES DECREASE? – IN WINTER, THERE IS ALMOST NO CHANCE OF IT”

    November 1, 2019 - National Bank of Georgia (NBG) took many steps toward curb of inflation, but the results are not visible still, the newspaper says.

    Experts consider that impact will become noticeable after New Year holidays, but it will not be unambiguously positive, the article reports.


    TABULA: “THE CITY HALL WILL SPEND 2.8M FOR A NEW YEAR TREE AND LIGHTING”

    October 31, 2019 - Tbilisi City Hall will spend total of 2.8 million lari for a New Year tree and lighting, Tabula reports.

    In particular, the City Hall will pay 1.25 million lari to Italian company Ido Srl for streets lighting.


    BANKEBI DA FINANSEBI: “INTERNATIONAL MONETARY FUND POINTS AT SUCCESS OF FISCAL REFORMS IN GEORGIA”

    October 28, 2019 - The IMF points at success of fiscal reforms in Georgia, the newspaper writes. The article notes that one of parts of the IMF regional economic outlook has headline “Lessons from Fiscal Reforms in Georgia”.


energy, oil & gas

    BANKEBI DA FINANSEBI: “INVESTMENT OF “GEORGIA CAPITAL” IN RENEWABLE ENERGY”

    October 30, 2019 - Investment company Georgia Capital signed agreement on buyout of 100% in LLC Hydrolea, the newspaper reports (cost of transaction is not specified).

    LLC Hydrolea, founded in 2012, owns 3 hydroelectric stations (Akhmeta, Debeda and Kasleti-2).


companies

    NETGAZETI.GE: “IVANISHVILI’S PLAN FOR TSKALTUBO – DETAILS AND RISKS”

    October 31, 2019 - Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream, puts forward an initiative of “revival” of spa resort Tskaltubo (Imereti region) and intends to buyout 22 sanatoria/hotels and 9 medical baths, which he said will be fully rehabilitated.

    It is unknown so far, for what sum the state will hand over these objects to Ivanishvili, Netgazeti.Ge notes and indicates statement of the Economy Minister Natia Turnava, who said that “we were ready to hand over these objects for even 1 lari to any investor, if only money would be invested”.


    FORBES GEORGIA: “RATING OF GEORGIA’S SPHERE OF RETAIL”

    October 28, 2019 - The magazine prepared in partnership with consulting and audit company Ebit Group a rating of Georgia’s retail sphere. In terms of daily number of consumers, not a single sphere of economy will be able to even approach the retail, the magazine notes.


transport & communications

    TABULA: ““MERIDIAN CAPITAL” REFUSES PARTICIPATION IN THE ANAKLIA PORT PROJECT”

    October 29, 2019 - Referring to Georgian Ministry of Regional Development and Infrastructure, Tabula reports that Kazakh investment company Meridian Capital NL BV refuses participation in the project of Anaklia deep-water port. The company addressed the Ministry with corresponding letter on October 28.


    TABULA: “KALADZE: 57% OF TBILISI RESIDENTS SUPPORT AND NAME SUCCESSFUL THE TAXI REFORM”

    October 28, 2019 - “57% of Tbilisi residents support and name successful the taxi reform”, Tbilisi Mayor Kakha Kaladze assures. “With the reform, most part of taxi drivers is happy too”, he declared on air of TV company Imedi.


ecology & health

    BANKEBI DA FINANSEBI: “DOCTORS COULD BE PROHIBITED TO WORK IN MORE THAN TWO CLINICS”

    October 29, 2019 - “Doctors could be allowed to work in two clinics, but not in three, four, five and six”, Georgia’s First Deputy Minister for IDPs from Occupied Territories, Labor, Healthcare andSocial Protection Tamar Gabunia declares.

    As Gabunia explains, work of a doctor of concrete specialty in several places causes many problems, including his/her timely appearance in clinic at urgent cases.


finances & banking

    FORBES GEORGIA: “CREDIT AGREEMENT OF 44M LARI SIGNED BETWEEN “CREDO” BANK AND PROPARCO”

    October 31, 2019 - Georgian bank Credo signed credit agreement of 44 million lari with PROPARCO (development financial institution, partly owned by the French Development Agency, AFD), the magazine reports.

    As the article notes, the 5-year financial resource will be used for development of micro, small and medium business in Georgia.


agriculture & food

    REZONANSI: “WHEAT RESERVE IN THE COUNTRY IS FOR SEVERAL DAYS ONLY”

    October 29, 2019 - The newspaper reports that current wheat stock in Georgia is approximately for 3 weeks. However, some experts disprove it and claim that there is a stock for 6-7 days only, the article indicates.


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