Economic Press Monitor October 28 - November 3, 2018	Days:  20 27 03 10 17

economic & politics

NETGAZETI.GE: “THE CONGRESSMAN PUTS FORWARD AN INITIATIVE OF FREE TRADE AGREEMENT BETWEEN THE US AND GEORGIA”

November 1, 2018 - Referring to Georgian Foreign Ministry, Netgazeti.Ge reports that the US congressman Ted Poe applied to the US Trade Representative Robert Lighthizer with offer to start negotiations on free trade agreement with Georgia. The article notes that Poe (TX, R) is Chairman of the House Georgia Caucus.




FORBES GEORGIA: ““FREEDOM HOUSE” – HOW MUCH FREE IS INTERNET SPACE IN GEORGIA”

November 1, 2018 - In the “Freedom on the Net” rating of 2018 of Freedom House, Georgia’s score worsened by 1 point and made up 25 points, the magazine reports. Despite this, Georgia is still among the “free” countries.




BANKEBI DA FINANSEBI: “POPULATION IS IN NEED, WHILE AUTHORITIES DO NOT REALIZE IT”

October 31, 2018 - “The population is in need, while the authorities do not realize it”, head of Young Financiers and Businessmen Association Shota Gulbani posted on his Facebook page.

“The authorities win elections then, when economic situation in the country is stable and advancing, when the population is busy and people have a source of elementary income”, Gulbani specifies.




KVIRIS PALITRA: “WHY CANNABIS, AND NOT WATER?”

October 29, 2018 - Doctor of engineering Paata Giorgadze indicates that “Georgia is one of the richest countries in terms of quality drinking water”, which has 26,060 rivers. We should became the most successful country, producing drinking water and supplying it on the global market, he declares.

macroeconomics & budget

BANKEBI DA FINANSEBI: “WHAT IS CONNECTIONS BETWEEN DEFICIT-DRIVING EXPENDITURE OF THE BUDGET AND DEVALUATION OF LARI”

November 2, 2018 - The newspaper publishes reasons of Shota Gulbani, president of Young Financiers and Businessmen Association, concerning expenditure of the budget and exchange rate of lari.

Gulbani indicates that considering mechanisms of formation of the rate, one cannot say that deficit-driving expenditure of the budget is in direct correlation with devaluation of lari, but it still is able to impact the rate.




FORBES GEORGIA: “THIS YEAR, PROGRAM OF UNIVERSAL HEALTHCARE WILL REQUIRE ADDITION OF 40M LARI”

November 2, 2018 - In January-October, 619 million lari were spent for the program of universal healthcare, the magazine reports.

The article indicates that 62 million lari were spent monthly on average and, respectively, more 120 million lari have to be spent until end of the year.




REZONANSI: “TOBACCO AND BEER TO RISE IN PRICE AGAIN”

October 31, 2018 - According to the draft budget, excise increases in 2019, the newspaper reports. The article indicated that this growth is caused by Georgia’s obligations, undertaken within Association Agreement with the EU.




FORBES GEORGIA: “THE IMF DECREASED FORECAST OF GEORGIA’S ECONOMIC GROWTH”

October 30, 2018 - The IMF decreased the forecast of Georgia’s economic growth from 5.5% to 5%, the magazine reports. As the reason, economic situation in Georgia’s main trade partner countries is named.




FORBES GEORGIA: “FOR WHAT CITIZENS AND BUSINESS ARE FINED”

October 30, 2018 - In 9 months of this year, the budget gained 113.9 million lari from various penalties and fines, the magazine reports. As the article specifies, the volume has increased by almost 30 million lari in comparison with the previous year.

companies

BANKEBI DA FINANSEBI: “AFTER PAYMENT OF 2M TO THE BUDGET, TOBACCO PLANT OF “OMEGA” RESUMED OPERATION”

October 29, 2018 - After compelled 3-month pause, tobacco plant of Omega Group resumed operation, the newspaper reports. The article points that operation work was resumed after the company paid 2 million lari to the budget.




FORBES GEORGIA: ““BITFURY” MIGHT PLACE SHARES ON STOCK EXCHANGE”

October 29, 2018 - Referring to ihodl.com, the magazine reports that at the beginning of 2019, shares of BitFury (the cryptocurrency company, which operates Tbilisi industrial zone) could be placed on a stock exchange. The matter concerns stock exchanges of Amsterdam, London or Hong Kong.

transport & communications

TABULA: ““GREEN OR SILVER” – THE CITY HALL CHOOSES COLOR OF BUSES ON “FACEBOOK””

November 2, 2018 - Since February 2019, Tbilisi will have 90 new buses, which will replace yellow municipal buses. In order to choose color and design of these buses, the City Hall offers citizens to participate in poll by means of Facebook, Tabula reports.

finances & banking

BANKEBI DA FINANSEBI: “HIGH SPREAD HAMPERS FINANCING OF BUSINESS AND DEVELOPMENT OF BUSINESS IN GENERAL”

November 1, 2018 - In his interview to the newspaper, banking expert Giorgi Tsutskiridze indicates that there is traced interesting tendency in dynamics of interest income of local banking sector concerning retail and corporate crediting.

Income of banks from retail credits amounted in 2012 to 709.5 million lari, while practically doubled by the end of 2017 and made up 1.5 billion, Tsutskiridze specifies.




BANKEBI DA FINANSEBI: “I HOPE, COEFFICIENT OF SUM DUE TO MONTHLY PAYMENT ON RETAIL CREDITS WILL BE REVISED TOO”

October 31, 2018 - Giorgi Kepuladze, chairman of board of non-governmental organization Society and Banks, hopes that amendments to regulation of credit issuing to natural persons will concern also coefficient of monthly payments.

Kepuladze declared this on air of Channel One (Public Broadcaster) and noted that the coefficient, offered by the draft regulation, was drastically decreased in comparison with acting one.




REZONANSI: “RESTRICTION OF CREDITING AND BANKING REGULATIONS NOT TO BE ENACTED ON NOVEMBER 1”

October 30, 2018 - Banking regulations, which had to enter in force on November 1, are postponed, the newspaper reports.

National Bank of Georgia explains that regulations are softened and currently, work on technical details’ specification is underway.