Economic Press Monitor May 28 - June 3, 2023	Days:  20 27 03 10 17

economic & politics

FORBES GEORGIA: “EPRC PUBLISHES RESEARCH “GEORGIA’S ECONOMIC DEPENDENCE INDEX””

June 2, 2023 - Research, conducted by Economic Policy and Research Center (EPRC), show that between 2007 and 2022, the index of Georgia’s economic dependence on authoritarian regimes increased by 20 percentage points. In particular, this index in 2007 made up 11%, while in 2022 – 30.9%.




TABULA: “UKRAINE PUT “GEORGIAN AIRWAYS” AND GAIASHVILI ON LIST OF SUBJECTED TO SANCTIONS”

June 2, 2023 - Ukraine put Georgian carrier Georgian Airways and its founders Tamaz and David Gaiashvili on the list of subjected to sanctions. Since May 20, Georgian Airways conducts flights to Moscow.




REZONANSI: “PRESIDENT’S MAIN MESSAGES IN EUROPEAN PARLIAMENT AND ASSESSMENTS IN TBILISI”

June 1, 2023 - After 13 years, the President of Georgia was once again given an opportunity to address European Parliament, the newspaper says.

While appearing in European Parliament on May 31, Georgia’s President Salome Zurabishvili said that the European choice of Georgia not only is legitimate, but also has no alternative.




FORBES GEORGIA: “IN WHAT CASE US SANCTIONS AGAINST GEORGIAN AUTHORITIES COULD BE TIGHTENED?”

May 30, 2023 - The magazine considers possibility of tightening US sanctions against the Georgian authorities. For this purpose, the article analyzes the US sanctions against Moldovan and Ukrainian oligarchs.




FORBES GEORGIA: “STRUGGLE FOR NATIONAL BANK”

May 29, 2023 - National Bank of Georgia (NBG) has always been a subject of special interest for the ruling parties in Georgia, the article stated.

“Under the informal, oligarchic rule of the Georgian Dream, interest in submission of the National Bank has doubled”, points author of the article (Roman Gotsiridze, NBG president in 2005-2007).




REZONANSI: “SEVERAL NEW SCANDALS BEFORE SPEECH IN EUROPEAN PARLIAMENT – RELATIONS BETWEEN THE PRESIDENT AND THE GOVERNMENT BECAME EXTREME TENSED”

May 29, 2023 - Speaking at celebration of Independence Day on May 26, Georgia’s President Salome Zurabishvili sharply criticized authorities of the country, the newspaper says.

The President said that the Georgian authorities are changing the foreign course and acting without consent of their people.

macroeconomics & budget

BATUMELEBI: “GOVERNMENT FILED TO SPEND OVER 20M LARI – BUDGET EXECUTION IN Q1”

May 31, 2023 - In the 1^st quarter, the Ajara government was supposed to receive revenue of 100 million lari, while actual implementation exceeded the plan by 19 million lari.

At that, the plan for budget payments amounted to 77.94 million lari, while actual financing made up 57.58 million lari, i.e. the difference exceeds 20 million lari.

energy, oil & gas

REZONANSI: “OIL BECOMES CHEAPER IN THE WORLD, WHETHER PETROL PRICE GROWTH IN GEORGIA WILL STOP?”

June 1, 2023 - Oil price on international markets sharply declines, while the process on the market of Georgia develops differently, the newspaper says.

If a few weeks ago, 1 l of petrol cost less than 2 lari, now its cost at unbranded filling stations reaches 2.29 lari, the article points.




REZONANSI: “GREAT CHANGES IN ENERGY SECTOR – THE COUNTRY STARTS IMPLEMENTATION OF SIGNIFICANT PROJECTS”

May 31, 2023 - Georgian authorities plan to announce an auction for construction of an energy-efficient thermal power plant of combined cycle with a capacity of 350-430 MW in Gardabani municipality (Kvemo Kartli region).

Power engineer Gia Arabidze welcomes plans for construction of the new station.

conflict and court

TABULA: “SINGAPORE COURT CHARGED “CREDIT SUISSE” TO PAY $926M TO IVANISHVILI”

May 29, 2023 - Singapore court has charged Swiss bank Credit Suisse to pay compensation of $926 million to Bidzina Ivanishvili (billionaire founder of Georgia’s ruling Georgian Dream). The case concerns damage, inflicted to Ivanishvili by fraudulent transactions of his former personal banker.

companies

BANKEBI DA FINANSEBI: “WITH ASSISTANCE OF “SAKARTVELOS BANKI”, “LIBO GROUP” INSTALLED SOLAR PANELS, ANNUAL GENERATION WILL MAKE UP 400,000 KWH”

June 1, 2023 - Otar Badagadze, cofounder of Libo Group, says that 2 projects were commissioned in the 1^st quarter – a warehouse of A class and a station of solar panels. Both projects were implemented with participation of Sakartvelos Banki (Bank of Georgia), he notes.

transport & communications

NETGAZETI.GE: “CONSTRUCTION OF NEW RUNWAY IS PLANNED AT KUTAISI AIRPORT”

May 30, 2023 - LLC Georgian Airports Association plans to build a new runway at Kutaisi airport. In order to determine the estimated cost of designing, the state-owned LLC conducts a market research.

agriculture & food

BANKEBI DA FINANSEBI: “NEW REGULATIONS ENTER IN BREAD PRODUCTION – CHAIRMAN OF BREAD PRODUCERS ASSOCIATION EXPLAINS WHAT REQUIREMENTS THE PRODUCER SHALL MEET”

June 2, 2023 - Since June 1, having Hazard Analysis and Critical Control Points (HACCP) system becomes obligatory to all business operators in Georgia, engaged in production, processing, selling of food.

Georgian National Food Agency specifies that new regulation is extended to such business operators, as food shop; bakery production; production of vegetable oil, mayonnaise, margarine; production and realization of baby food; trade in milk and dairy products; selling of fruits and vegetables; selling of honey; etc.




REZONANSI: “HOW MUCH 1 SACK OF FLOUR WILL COST IN 2 WEEKS, WHAT KIND OF BREAD WILL KEEP ITS PRICE AND WHAT WILL BECOME MORE EXPENSIVE?”

May 30, 2023 - Supposedly, from June 10, the Georgian government plans to introduce a fee on flour import for a period of 5 months. In particular, fee on import of 1 t of flour will make up 200 lari, which will cause 1 sack of flour to increase in price by 12 lari, although the price of bread will remain, the newspaper says.

tourism

BANKEBI DA FINANSEBI: “TORNIKE RIZHVADZE – WE EXPECT OVER 4M VISITORS IN AJARA THIS YEAR”

May 31, 2023 - In a few days, the seaside tourist season will be officially opened in Ajara. This year, we expect over 4 million visitors, and Batumi will be central to this issue, said chairman of Ajara government Tornike Rizhvadze.