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Economic Press Monitor

March 29 - April 4, 2020

Previous Issues:  Days: < 21 28 04 11 18 > 

 

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economic & politics

    BANKEBI DA FINANSEBI: “GOGA MELIKIDZE APPOINTED SENIOR INVESTMENT OFFICER AT THE PENSION AGENCY”

    April 3, 2020 - Goga Melikidze is appointed to position of senior investment officer at Georgian Pension Agency, the newspaper reports. He will direct process of investment of pension assets.


    TABULA: “KOBAKHIDZE: WE, MAJORITY MPS AND MINISTERS, WILL GIVE UP 1/3 OF SALARIES DURING THREE MONTHS”

    April 3, 2020 - Tabula brings statement of Irakli Kobakhidze, executive secretary of ruling Georgian Dream, who said that members of Georgian government and majority deputies of the Parliament will transfer during the next 3 months one-third of their salaries in the fund for fight against COVID-19 coronavirus.

    As the article notes, the matter concerns 12 members of the government and 93 majority MPs – 105 people in total.


    TABULA: “BY DECISION OF THE GOVERNMENT, ONLINE TRADE OF ANY KIND, EXCEPT FOOD, IS STOPPED”

    April 2, 2020 - By resolution of Georgian government on toughening of state of emergency, online trade of any kind, except food, is stopped in the country, Tabula reports.

    As the article notes, press service of the government could not specify essential difference between delivery of food and online trade with other goods.


    NETGAZETI.GE: “COVID-19 CRISIS AS OPPORTUNITY FOR GEORGIA – KADAGIDZE”

    April 2, 2020 - Giorgi Kadagidze, former president of National Bank of Georgia, considers that global crisis, caused by COVID-19 pandemic, can become an opportunity for such poor country, as Georgia. Netgazeti.Ge publishes Kadagidze’s opinion of 5 points.


    REZONANSI: “THE GOVERNMENT WILL PRESENT PACKAGE OF PRIVILEGES FOR POPULATION IN 1-2 DAYS”

    April 1, 2020 - Supposedly, in 1-2 days, interdepartmental coordination council, created by Georgian government because of COVID-19 pandemic, will make the decision on privileges for the population, the newspaper says.

    “When work on this subject will be completed, then the corresponding statement will be made”, declared administration of the government.


    BANKEBI DA FINANSEBI: “18 DIRECTIONS OF ECONOMIC ACTIVITY, WHICH DO NOT STOP, DESPITE STATE OF EMERGENCY”

    April 1, 2020 - Despite state of emergency, declared in Georgia, economic activity does not stop in 18 directions, the newspaper reports. This is established by amendments, made to Georgian government’s resolution of March 23.


    REZONANSI: “WHETHER TBILISI MAYOR HAS PAID ELECTRIC BILLS OF POPULATION? – EXPLANATION OF THE CITY HALL”

    April 1, 2020 - Information that Tbilisi City Hall and Mayor Kakha Kaladze have paid March electric bills of Tbilisi residents spreads virally in social network, the newspaper reports. The City Hall denies this information.


    TABULA: “MIKELADZE: INFORMATION, PUBLISHED ON HACKER WEBSITE, IS NOT FROM DATABASE OF CEC”

    March 31, 2020 - Georgian Central Election Commission (CEC) denies report that information, published on hacker website, is taken from their database, Tabula reports.

    Information that Georgian voters’ data from CEC’s database were placed on hacker website was published by the American business technology news website ZDNet.


    KVIRIS PALITRA: “STATE ASSISTANCE PROGRAM WILL WORK IN TWO DIRECTIONS”

    March 30, 2020 - Georgia’s Minister of Economy and Sustainable Development Natia Turnava declares in interview to the newspaper that the state assistance program, aiming mitigation of negative impact of coronavirus pandemic, will work in two directions.

    Assistance will be provided to those businesses, which will maintain jobs as a result of this assistance, as well as to citizens, who were left without job, the Minister explains.


    BANKEBI DA FINANSEBI: “NIKA NANUASHVILI – WE HAVE TO START HUNTING AFTER INVESTORS AND INVESTMENTS”

    March 30, 2020 - Nika Nanuashvili, legal director of Georgian Business Association, forecasts that at most in 2 months, the mankind slowly, but steadily will start returning to usual rhythm of life, broken because of coronavirus pandemic. The economy slowly, but steadily will begin recovering, he notes.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “KOBA GVENETADZE – THERE IS A CHANCE OF APPEARANCE OF NEED OF MONETARY POLICY’S SOFTENING”

    April 3, 2020 - Koba Gvenetadze, president of National Bank of Georgia (NBG), pointed that “proceeding from a situation, there could be need of monetary policy’s toughening, but there is a good chance that softening could be needed”. He declared the mentioned on air of Business Partner program of Public Broadcaster.


    NETGAZETI.GE: “PRIVILEGES ON ELECTRICITY CONCERN 1.2M CONSUMERS, ON GAS – 720,000 – GAKHARIA”

    April 2, 2020 - Georgia’s Prime Minister Giorgi Gakharia said that number of consumers, eligible for privileges on electricity bills, makes up 1.2 million, or two-thirds of total number. He declared this on air of TV company Imedi.


    TABULA: “SINCE MARCH 21, POLICE FINED CITIZENS FOR 1.2M LARI”

    April 2, 2020 - From introduction of state of emergency in Georgia (March 21) until April 1, police has fined citizens for 1.28 million lari in total, Tabula reports. Imposition of penalties took place because of violation of self-isolation and quarantine modes.


    TABULA: “THE EU ALLOCATES 90M EUR TO GEORGIA FOR FIGHT AGAINST CORONAVIRUS”

    March 31, 2020 - Referring to Georgia’s Foreign Minister David Zalkaliani, Tabula reports that the EU allocates 90 million EUR to Georgia for fight against COVID-19 coronavirus. Funds will be allocated for ease of impact of coronavirus pandemic and improvement of socio-economic situation in the country.


    BANKEBI DA FINANSEBI: “LEZHAVA – MONETARY POLICY WILL NOT BE EASED UNTIL RISKS OF PRESSURE UPON INFLATION ARE SOFTENED”

    March 30, 2020 - Vice-president of the National Bank of Georgia (NBG) Papuna Lezhava said that toughened monetary policy will be maintained because of those risks, which exist in respect of pressure upon inflation.

    “As soon as we will see that these risks are softened, we will ease the monetary policy”, Lezhava declared on air of Business Partner program of Public Broadcaster.


energy, oil & gas

    FORBES GEORGIA: “EBRD ALLOCATED CREDIT OF 40M FOR INCREASE OF ENERGY EFFICIENCY IN GEORGIA”

    April 3, 2020 - EBRD approved credit agreement of 40 million EUR, aiming assistance to energy efficiency in Georgia, the magazine reports. As the article notes, total cost of the project makes up 50 million EUR.


    BANKEBI DA FINANSEBI: “LAUNCH OF “NENSKRAHES” WILL HALVED ELECTRICITY IMPORT”

    March 31, 2020 - In 2019, Georgia imported electric power of 1.63 billion kWh from Azerbaijan and Russia, the newspaper reports.

    In January-February of this year, the country imported 526 million kWh that by 6% exceeded indicator of the same period of 2019.


finances & banking

    BANKEBI DA FINANSEBI: “NATIONAL BANK WILL PARTICIPATE IN FOREX TRADES DIRECTLY, BYPASSING AUCTIONS”

    April 1, 2020 - Papuna Lezhava, vice-president of National Bank of Georgia (NBG), declares: “If for years we [NBG] were focused on accumulation of reserves, now we begin spending of reserves”.

    Until now, NBG participated in forex trades by means of currency auctions, “however, now we will be able to participate in forex trades directly, bypassing auctions”, Lezhava declares.


agriculture & food

    NETGAZETI.GE: “THE GOVERNMENT PROCURES 500 T OF SUGAR, 500 T OF PASTA AND 1.5M L OF SUNFLOWER OIL”

    March 31, 2020 - Georgian government procures 500 t of sugar, 500 t of pasta and 1.5 million l of sunflower oil, Netgazeti.Ge reports.

    According to the government’s decree, 16 million lari will be allocated for that end from assignations of the Ministry of Environmental Protection and Agriculture.


    TABULA: “DAVITASHVILI: THERE WILL BE NO PROBLEM IN BREAD SUPPLY, PROCESS OF PRODUCTION IS CONDUCTED UNINTERRUPTEDLY”

    March 30, 2020 - Georgia’s Minister of Environmental Protection and Agriculture Levan Davitashvili says that continuous monitoring is carried out in respect of uninterrupted bread production and bread price maintenance.

    “For today, stocks are more than enough, process of production is conducted smoothly”, Davitashvili declared after visit to bread-baking plants.


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