Economic Press Monitor June 27 - July 3, 2021	Days:  19 26 03 10 17

economic & politics

FORBES GEORGIA: “ACCORDING TO GLOBAL CYBERSECURITY INDEX OF 2020, GEORGIA OCCUPIES THE 55^TH PLACE IN THE WORLD RATING”

July 2, 2021 - According to the International Telecommunication Union’s Global Cybersecurity Index for 2020, Georgia is ranked 55^th among 193 countries. The magazine notes that the country has worsened its ranking by several dozen steps.




TABULA: “COVID-19 – IN TERMS OF MORTALITY PER MILLION PEOPLE OVER THE PAST 7 DAYS, GEORGIA IS ON THE 17^TH PLACE, IN TERMS OF VACCINATIONS – ON THE 147^TH”

July 2, 2021 - According to data of the last week, Georgia is on the 17^th place in the world in terms of COVID-19 mortality per 1 million people, Tabula reports.

Higher rates have such countries as Paraguay, Namibia, Seychelles, Colombia, Argentina, Suriname, Uruguay, Trinidad and Tobago, Tunisia, Oman, Brazil, Chile, Bolivia, Peru, Russia and Mongolia.




BANKEBI DA FINANSEBI: “BURJANADZE – RESTAURANTS SHOULD BE OFFICIALLY ALLOWED TO HOLD WEDDINGS AND EVENTS FOR UP TO 50 PEOPLE”

June 29, 2021 - Shota Burjanadze, founder of Georgian Restaurateurs Association, declared that restaurants in the country should be officially allowed to hold weddings and events for up to 50 people (currently there is a restriction in connection with COVID-19 pandemic).

“There are a lot of such facts, when weddings, events are held, the law is violated and, of course, there is no control”, Burjanadze pointed.




TABULA: “THE GOVERNMENT TERMINATES CONTRACT WITH INVESTOR OF “KHUDONHES” – THE HPP COULD BE BUILT BY THE STATE”

June 29, 2021 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that the country’s government is terminating the contract with investor company of the KhudonHES project.

Agreement on construction of this hydroelectric power plant was signed with the Indian company TransElectrica in 2011, and “for objective or subjective reasons, we see that 10 years have passed since then, and this project could not be implemented”, the Minister explained.




NETGAZETI.GE: “YOUR VISION OF ANAKLIA PORT IS HEIST-OF-THE-CENTURY PROJECT – GARIBASHVILI”

June 29, 2021 - Speaking in the country’s Parliament, Georgia’s Prime Minister Irakli Garibashvili named the lawsuit, which Mamuka Khazaradze (founder of Georgia’s largest TBC Bank and opposition movement Lelo) wages in international court, a “heist of the century”. Khazaradze applied to court with demand of $1.5 billion (compensation from Georgian government for termination of the investment contract on construction of Anaklia port), he said.




NETGAZETI.GE: “WE THINK HOW TO MAKE ANAKLIA PROJECT INTERESTING FOR INVESTORS AGAIN – TURNAVA”

June 28, 2021 - We think, “how to make, despite the post-pandemic period, the project of Anaklia [port] interesting for investors again”, stated Natia Turnava, Georgia’s Minister of Economy and Sustainable Development.

“We have hired an international consultant, who updates tender documentation and feasibility study, market research, prepared in 2015”, Turnava told journalists.

macroeconomics & budget

TABULA: “7B LARI TO BE SPENT IN AGRICULTURE – THE GOVERNMENT’S 10-YEAR PLAN”

July 2, 2021 - On July 1, Georgia’s Prime Minister Irakli Garibashvili presented a 10-year plan of agriculture development and environmental protection. “According to our ambitious plan, total amount of joint investments of the government and the private sector will make up 7 billion lari in coming years”, the Premier declared.




BANKEBI DA FINANSEBI: “FROM THE DAY OF ACCUMULATION BEGINNING TO THE PRESENT, VALUE OF PARTICIPANTS’ SAVINGS HAS INCREASED BY 24.3%”

July 1, 2021 - Georgian Pension Agency reported that from the date of beginning of accumulation in the Pension Fund (January 1, 2019) to the present, value of participants’ savings (excluding pension contributions) has increased by 24.3%.

At that, inflation in the same period made up 18.5%, while lari depreciation – 17.8%.




TABULA: “TURNAVA: WE DECIDED TO RESTORE THE PROGRAM ON FILM INDUSTRY SUPPORT”

June 29, 2021 - “We have decided to restore in updated, improved form the program of support for film industry”, declared Natia Turnava, Georgia’s Minister of Economy and Sustainable Development. In a few days, the State Agency Produce in Georgia will start acceptance of new applications, she said.

energy, oil & gas

NETGAZETI.GE: “DOES ENERGY OF “NAMOKHVANHES” COST MORE THAN IMPORTED ONE AND CONFIDENTIAL DOCUMENT OF ESCO”

July 1, 2021 - MP Sandro Rakviashvili (political party Girchi) states that import of electricity from neighboring countries is cheaper than the tariff, envisaged in contract on NamokhvanHES.

In particular, the MP obtained document from Georgian Electric System Commercial (ESCO), according to which hourly prices of electricity, imported from Azerbaijan, are often lower than the tariff, set for NamokhvanHES in the first year of its operation.




BANKEBI DA FINANSEBI: “YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION – ESCO HIDES TARIFF OF ELECTRICITY IMPORTED FROM RUSSIA”

June 30, 2021 - Georgian Young Financiers and Businessmen Association declared that it has been unsuccessfully trying for the 4^th month to get from Georgian Electric System Commercial Operator (ESCO) information on tariffs of electricity imports to Georgia (so-called contract prices).

However, MP from political party Girchi Alexander Rakviashvili has managed to retrieve this information.

conflict and court

REZONANSI: “IF THERE WERE ANY DRAWBACKS, THEY WILL BE CORRECTED, THE MAIN THING IS TO IMPLEMENT THE PROJECT – NATIA TURNAVA ON “NAMOKHVANHES””

June 28, 2021 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, stated that NamokhvanHES is a very important project for the country’s energy independence.

“Now, it is important that we are in the process of mediation [with the project opponents], which is headed by a representative of the EU Energy Charter and we have positive expectations”, the Minister told journalists.

companies

FORBES GEORGIA: “HOTEL “BIOGRAPH” OPENED IN TBILISI WITH INVESTMENT OF 18M LARI – “EVERY FLOOR HERE HAS ITS OWN ADDRESS””

July 2, 2021 - On July 1, hotel Biograph was opened in the historical district of Tbilisi, Ortachala. Investments in the 4-star hotel made up 18 million lari, the magazine reports.




TABULA: “AVERAGE TURNOVER OF GEORGIAN STOCK EXCHANGE IN JUNE MADE UP ZERO LARI AGAIN”

July 1, 2021 - Turnover of Georgian Stock Exchange in June made up zero again, Tabula reports. The article notes that same results were recorded in March, April and May.




BANKEBI DA FINANSEBI: “THROUGH PARTNERSHIP OF “SAKARTVELOS BANKI” AND “TBILI SAKHLI”, NEW TERMINAL AT KUTAISI AIRPORT HAS BEEN EQUIPPED”

June 30, 2021 - Within the framework of partnership between Sakartvelos Banki (Bank of Georgia) and company Tbili Sakhli (Warm House), engineering communications have been installed in the new terminal of Kutaisi Airport. The matter concerns systems of heating, air conditioning, ventilation, fire safety, electricity and water supply.




FORBES GEORGIA: ““ADJARABET” WON THE AUCTION FOR THE RIGHT TO NAME BATUMI STADIUM”

June 28, 2021 - Adjarabet won the auction for the right to name Batumi Stadium, the magazine reports. The article notes that this gambling company has not choose the name yet.

agriculture & food

REZONANSI: “ONLY ONE DAY REMAINS UNTIL BREAD PRICE INCREASE? – WHAT DECISION HAVE ENTREPRENEURS MADE”

June 30, 2021 - The flour subsidy program will end on July 1, which means that bread will rise in price, the newspaper points.

Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, notes that “the country generally always has a stock for 2 months, but now we have relatively more, since the harvesting is underway and there are a lot of cereals for sale”.