Economic Press Monitor August 28 - September 3, 2022	Days:  06 13 03 10 17

economic & politics

BANKEBI DA FINANSEBI: “WHY FIELD OF ACTIVITY OF GEORGIA-REGISTERED FOREIGN BUSINESSES, INCLUDING RUSSIAN LLCS AND SOLE PROPRIETORS, IS UNKNOWN – EXPLANATION”

September 1, 2022 - Referring to Sakstat, Georgian news agency IPN reports that 7,459 Russian businesses (i.e. with the Russian participation) were registered in Georgia in 5 months of this year.

Out of total registered Russian businesses, 544 ones are limited liability companies (LLCs), which field of activity is unknown in 542 cases.

macroeconomics & budget

REZONANSI: “DESPITE DECLINE IN UNEMPLOYMENT, NUMBER OF SOCIALLY UNPROTECTED CITIZENS GROWS IN GEORGIA”

September 1, 2022 - Georgian Agency of Social Services reported that in July, the number of social assistance recipients made up 664,278, increasing thus by 2.4% since January. The newspaper notes that 17.8% of the country’s population are recipients of the state social assistance.




FORBES GEORGIA: “IN TERMS OF NATIONAL INCOME PER CAPITA, GEORGIA IS ON THE 103^RD PLACE IN THE WORLD”

September 1, 2022 - Referring to the World Bank’s data for 2021, the magazine reports that in terms of national income per capita, Georgia is in the 103^rd place among 184 countries. The country’s national income per capita makes up $4,740.

companies

NETGAZETI.GE: ““PUBLIC BROADCASTER” SELLS REAL ESTATE ON AUCTION AGAIN, INITIAL PRICE HAS BEEN REDUCED”

September 2, 2022 - Georgian Public Broadcaster again put up for auction its real estate, located at Kostava Str. 68 in Tbilisi. The auction will expire on September 30.




TABULA: ““SAKARTVELOS BANKI” LAUNCHES A NEW STREAM OF CASHBACK FOR BUSINESSES ON EU4BUSINESS-EBRD CREDIT LINE”

September 1, 2022 - Within an initiative of the EU and EBRD, Sakartvelos Banki (Bank of Georgia) begins the new stage of the Cashback program. This program provides an opportunity for businesses to get financing for development, and receive up to 15% of the requested sum in the form of Cashback.

finances & banking

REZONANSI: “GEORGIAN STOCK EXCHANGE IS PRACTICALLY DEAD”

September 2, 2022 - In this August, average volume of Georgian Stock Exchange’s daily turnover made up 12 lari, while no transactions at all were concluded in June and July, the newspaper reported. In May, the average daily turnover made up 159 lari.




REZONANSI: “MOST OF INSURED CARS ARE CORPORATE ONES”

September 2, 2022 - Georgian State Service for Insurance Supervision reported that in 6 months of this year, 18 insurance companies have reimbursed 54.62 million lari within the framework of car insurance.

The largest reimbursements were made by TBC Insurance (14.9 million lari), Aldagi (10.5 million lari) and GPIH (8.78 million lari).

construction

TABULA: “KALADZE: FINISHED OBJECTS WILL BE PUT IN OPERATION WITH CERTAIN CONDITIONS”

September 2, 2022 - Tbilisi Mayor Kakha Kaladze declared that “for decades, people have lived in such buildings, which were finished, but were not put in operation because of certain violations and problems”.

In order to solve this problem, amendments were made to Georgian Code of Spatial Planning, Architectural and Construction Activities.