Economic Press Monitor January 29 - February 4, 2017	Days:  21 28 04 11 18

economic & politics

TABULA: ““FOR MEDIA ADVOCACY”: “GPB” PLANS TO CANCEL SOCIO-POLITICAL PROGRAMS”

February 3, 2017 - Non-governmental coalition For Media Advocacy declares that as far as it became known to them, management of Public Broadcaster made decision to shoot down the program Real Space. According to the coalition, there are plans to cancel other socio-political programs too and to dismiss employees massively.




KVIRIS PALITRA: “DIMITRI KUMSISHVILI: “I’M READY TO WITHSTAND ATTACKS””

January 30, 2017 - In his interview with the newspaper, Finance Minister Dimitri Kumsishvili points: “The government’s 4-point agenda aims exactly economic growth and one of the directions is cut of the governmental expenditures”. “Another direction is that we will spend additionally about 14 billion lari on infrastructure”, he notes.

macroeconomics & budget

FORBES GEORGIA: “DETAILS OF ESTONIAN MODEL AND ITS IMPACT ON ECONOMIC GROWTH”

February 2, 2017 - Estonian model of profit taxation has been enacted from 2017. Introduction of this regime of profit tax was estimated within the USAID-funded project “Governance for Growth” (G4G).




FORBES GEORGIA: “IN 2016, THE BUDGET GAINED 194.3M LARI FROM PRIVATIZATION”

February 1, 2017 - State Treasury reported that Georgia’s consolidated budget has mobilized 194.3 million lari from privatization in 2016. Of which, revenue of the state budget made up 74.6 million lari, while local budgets get 119.7 million lari.

energy, oil & gas

BANKEBI DA FINANSEBI: “AFTER NECESSARY REFORMS, GEORGIA WILL HAVE PROPER AND DEVELOPED ENERGY MARKET”

February 3, 2017 - Norwegian company Clean Energy in cooperation with Turkish company ENKA plans to build series of Namakhvani water plants, totaling to 436 MW. The project costs about $960 million, while the works will last for 5 years.




TABULA: “KALADZE: “ENGURHES” WILL STOP OPERATION ON FEBRUARY 15”

January 31, 2017 - Energy Minister Kakha Kaladze declared that EngurHES, Georgia’s largest hydroelectric station, will stop operation on February 15, the newspaper reports.

“We are planning to inspect the tunnel, because rehabilitation works are planned by 2018”, the Minister said.




EUGEORGIA.INFO: “GEORGIA NEEDS EFFECTIVE STRATEGY OF ENERGY SAFETY”

January 30, 2017 - In the light of Georgia’s growing pace of energy consumption, development of energy safety strategy becomes more and more necessary, Eugeorgia.Info states. However, the country does not have developed methodology for energy safety risks’ estimation so far, the article points.

companies

NETGAZETI.GE: ““ADVERTISING WAR” IN TBILISI BETWEEN “MAGTI” AND “GEOCELL””

February 3, 2017 - On Saakadze Square in Tbilisi, “advertising war” is underway between mobile operators MagtiCom and Geocell, the newspaper reports.

A few days ago, adverting banner of MagtiCom, saying “Only Magti”, was hung above the office of Geocell, the article says, adding that this became a subject of active commenting in internet by subscribers of the mentioned companies.




BANKEBI DA FINANSEBI: “NEW OWNER OF “RUSTAVIS AZOT” RELEASED STATEMENT”

February 2, 2017 - The newspaper publishes statement of JSC EU Investment (director general Eprem Urumashvili), new owner of Rustavi Azot (Rustavi chemical plant), which rejects media reports about dismissal of 350 employees of the plant and planned further staff reduction. The company has acquired Azot in September 2016.




TABULA: “DISMANTLING OF “CHILDREN’S WORLD” BUILDING STARTS TODAY”

February 2, 2017 - Amiran Mariamidze, commercial director of Children’s World shopping mall, declared that dismantling of the mall’s building, damaged from the fire, will start today. After dismantling, traders will be able to enter the territory and search own valuable items, he said.




TABULA: “OWNER COMPANY OF “IMEDI” BROADCASTER ACQUIRED 100% IN “GDS””

February 1, 2017 - Georgian Media Production Group, owner of media holding Imedi, acquired 100% in GDS broadcasting company from Bera Ivanishvili (son of ex-premier billionaire Bidzina Ivanishvili). Respective deal was registered in Public Registry on January 28.




NETGAZETI.GE: ““BEELINE” MAY WIN TENDER ON TELEPHONE SERVICE FOR PUBLIC AGENCIES”

February 1, 2017 - The newspaper says that Beeline (LLC Mobitel) may win tender, announced by the Procurement Agency, as the company is the only participant of the tender.

Deadline for application’s submission for consolidated tender on mobile communication service in 2017-2018 has expired on January 30.




NETGAZETI.GE: “WHO WILL REIMBURSE LOSS TO TRADERS OF BURNT “CHILDREN’S WORLD” MALL”

January 31, 2017 - Tbilisi Mayor David Narmania said that full responsibility of fire, which has burnt trade mall Children’s World on January 30, is on administration of the mall.

However, lawyer of the mall Vazha Maisuradze says that the center’s lessees and sub-lessees are independent entities and it was their responsibility to protect the burnt property.

finances & banking

REZONANSI: “START OF LOANS’ LARIZATION PROGRAM IS VERY BAD”

January 31, 2017 - President of Georgian Banks Association Zurab Gvasalia reports that by the moment, 400 loans have been converted in the national currency. “I am sure, this statistics will be higher by end of the month, as there is still a process of expectation and decision-making”, he declares.

agriculture & food

EUGEORGIA.INFO: “KAKHETIAN FARMERS NEED GROWTH OF FUNDS’ ACCESSIBILITY AND MORE INFORMATION ON NICHE PRODUCTS”

February 1, 2017 - Current activity of Georgian farmers is insufficient in order to produce food, complying with international standards, Eugeorgia.Info states.

As it turns out, the farmers find difficulty in obtaining of information about niche products, and they need reliable consulting service in terms to select profitable crops with minimal risks, the article says.




EUGEORGIA.INFO: “HOW TO GROW RASPBERRY – SCARCE FRUIT IN GEORGIA AND EUROPE”

January 30, 2017 - Entrepreneur Giorgi Koreli says that “Raspberry is scarce product; our production does not meet the market demand”.

Sakstat reported that in 2013, Georgia imported 460 t of frozen and fresh raspberry from Turkey, Russia and Germany.

construction

REZONANSI: “60% OF NEW BUILDINGS WON’T PASS SEISMIC TESTING”

January 31, 2017 - In line with the acting criteria, Tbilisi is located in zone of 8-magnitude seismic activity, however, constructions in Georgia are not tested for seismic resistance, the newspaper points.

Tbilisi City Hall states that checking of buildings’ stability is not responsibility of the municipality, thus, they do not have information, how many buildings in the capital do not match the standards, the article says.