Economic Press Monitor April 30 - May 6, 2017	Days:  22 29 06 13 20

economic & politics

LIBERALI: “EMC: WORKING CONDITIONS OF PERSONS, OCCUPIED IN RAILWAY TRANSPORT SPHERE”

May 5, 2017 - Referring to research, conducted in 2016, Human Rights Education and Monitoring Center (EMC) says that persons, occupied in railway transport sphere, frequently name worn-out infrastructure as a main challenge. Transport means and working equipment became outdated, EMC states.




EUGEORGIA.INFO: “LAND DEFRAGMENTATION AND LAND BANK – TOOL OF LAND CONSOLIDATION”

May 4, 2017 - The article says that in 2001, the UN Food and Agriculture Organization (FAO) conducted in Georgia preliminary study in order to define possibility of implementation of land consolidation program.

Research targeted preparation of corresponding project for Georgia, but Georgian authorities did not fix demand for implementation of the project, the article specifies.




REZONANSI: “TEMPTATION IS BIG, THAT FOREIGNERS TO BUY LAND AND PUBLIC TO REMAIN WITHOUT RESOURCE”

May 2, 2017 - “The temptation is big, that foreigners to come and to buy our land, and at the same time, public to remain without strategic resource”, Chairman of the Parliament Irakli Kobakhidze declares.

Within the constitutional amendments, “we chose moderate approach” in connection with land ownership, Kobakhidze states.

macroeconomics & budget

BANKEBI DA FINANSEBI: “WHETHER IS NATIONAL CURRENCY THE VICTIM OF SPECULATIVE BARGAINS”

May 3, 2017 - Lari exchange rate against dollar has lowered below mark 2.4 GEL/USD for the first time in the last 6 months and was fixed at the level of 2.39 GEL/USD, causing “positive expectations among public”, the newspaper says.

“As the state budget is planned in [assumption of] lari against dollar on mark 2.5, it is desirable that the rate not to have considerable fluctuations until end of the year”, author of article declares.




REZONANSI: “EVERY 5^TH IS PENSIONER, THE NATION GROWS OLD WITH HIGH PACE”

May 2, 2017 - In Georgia, which population strength makes up 3.7 million people, every 5^th is a retirement pensioner, the newspaper reports.

9 years ago, number of retirement pensioners made up 611,879, and 83.04 million lari was spent monthly for their pension provision.




THE FINANCIAL: “GEORGIAN NATIONAL CURRENCY IS STABILIZED”

May 2, 2017 - In his interview with the newspaper, president of Georgian Banks Association Zurab Gvasalia says that lari had strengthened since the beginning of the year from 2.45 GEL/USD to 2.38 GEL/USD, and “such scenario was expected”. Now, national currency has stabilized at the level of 2.45 GEL/USD again, he notes.




KVIRIS PALITRA: “PARLIAMENTARY PIGGYBANK: IN 4 MONTHS, BONUSES AND SUPPLEMENTS OF UP TO 5,000,000!”

May 1, 2017 - According to joint research of Civil Platform – New Georgia and Monitoring Center Mediator, deputies, staff employees and officials of Georgian Parliament have received in 4 months of this year remuneration of 4.85 million lari.

That volume included salaries of MPs, totaling to 3.04 million lari, which include in their turn supplements of 1.84 million lari.

energy, oil & gas

TABULA: “KALADZE: IT IS NOT EXCLUDED THAT GAS TARIFF FOR WILL INCREASE”

May 4, 2017 - Energy Minister Kakha Kaladze does not exclude that “there will be a rise in price of natural gas tariff”. “What the growth will be and how it will be conducted, is considered by the regulating commission”, he notes.




REZONANSI: “IMPORT OF ELECTRICITY HAS DOUBLED, WHAT THREATENS THE TARIFF?”

May 3, 2017 - According to Electricity System Commercial Operator, import of electricity in January-April made up 845 million kWh. To compare, import for the whole 2016 amounted to 478 million kWh.




FORBES GEORGIA: “WHAT’S NEXT FOR GEORGIA’S POWER SECTOR?”

May 1, 2017 - If the current trend of growing electricity consumption continues, Georgia will have a significant energy generation deficit in a decade, the magazine states. The article explains that domestic demand, which is expected to grow in line with a rising GDP, will require the country to generate by around 65% more power through 2025.

companies

BANKEBI DA FINANSEBI: ““BOLERO AND COMPANY” TO RESTORE AT “RED CELLAR” KVEVRIS WITH CAPACITY OF UP TO 700 T”

May 5, 2017 - Gurjaani-based winemaking enterprise Bolero and Company plans to restore at “Red Cellar” kvevris (traditional clay vessel for wine making and storage) with capacity of 700 t, the newspaper reports.

The article notes that after privatization of state enterprise Gruzvinprom, the company made investments of 5 million lari already.




FORBES GEORGIA: ““GIG” PLANS TO PROCESS ANNUALLY 85,000 T OF COAL IN TKIBULI”

May 4, 2017 - Georgian Industrial Group (GIG) plans to process annually 85,000 t of coal on average and to begin production of coke in Tkibuli, the magazine reports. The group does not name estimated volume of investment yet.




FORBES GEORGIA: ““DENTONS” OPENED OFFICE IN TBILISI”

May 3, 2017 - Law firm Dentons opened office in Tbilisi. As global director general of the company Elliott Portnoy pointed, Dentons “is the only global law firm today, which offers its clients local legal knowledge and experience in Georgia, Kazakhstan, Azerbaijan, Russia, Turkey and Ukraine”.

transport & communications

LIBERALI: “RESEARCH OF “URBANISTIC LABORATORY” – PROSPECTS OF TBILISI SUBWAY DEVELOPMENT”

May 4, 2017 - Member of Tbilisi City Council Alexander Elisashvili and Urbanistic Laboratory held presentation of the intermediate version of recommendations’ package, aimed at development of Tbilisi subway, the magazine reports. The recommendations are dealing with improve of subway’s popularity as kind of transport.

finances & banking

BANKEBI DA FINANSEBI: “KOBA GVENETADZE: IN ORDER TO PROTECT OURSELVES FROM RATE FLUCTUATION, IT IS IMPORTANT THAT WE HAVE TO HAVE CREDIT IN LARI”

May 5, 2017 - “In order businessmen and population to protect themselves from fluctuation of the rate, it is important that we have to have credit in national currency”, president of National Bank of Georgia (NBG) Koba Gvenetadze declares.

While commenting on raise of monetary policy rate by 25 basic points to 7%, Gvenetadze points that NBG considered that measure expedient for additional curb of inflationary expectations.




REZONANSI: “COMMERCIAL BANKS WILL DROP OUT FROM REFINANCING AUCTIONS?”

May 2, 2017 - The newspaper supposes that National Bank of Georgia (NBG) could cancel refinancing auctions and will lend the government directly, by means of securities. The article points that NBG refrains from commenting on this issue.




KVIRIS PALITRA: “LARI SHOULD NOT FLY UP AND DOWN”

May 1, 2017 - At the beginning of last week, national currency had depreciated from 2.4 GEL/USD to almost 2.48 GEL/USD, while has suddenly strengthened then up to 2.44 GEL/USD.

Doctor of economics David Aslanishvili indicates that instead of 1.9 billion lari, National Bank of Georgia (NBG) has issued to commercial banks the refinancing credits of 1.6 billion lari.

agriculture & food

EUGEORGIA.INFO: “GEORGIA’S IMPORT OF ONIONS EXCEEDS 20,000 T, WHY FARMERS DO NOT CULTIVATE PROFITABLE CROP”

May 1, 2017 - The research center of PMCG, together with Samtskhe-Javakheti State University, conducted analysis of a value chain for onions in Samtskhe-Javakheti region. Research was funded by the EU.

construction

FORBES GEORGIA: “1,079 CONSTRUCTION PERMITS WERE ISSUED IN TBILISI IN THE BEGINNING OF 2017”

May 3, 2017 - According to Sakstat, 1,079 construction permissions were issued in Tbilisi in January-March. In the whole country, 2,168 permissions were issued in the 1^st quarter.

tourism

BANKEBI DA FINANSEBI: “MARKET RESEARCH ANNOUNCED ON TOURIST ZONE ARRANGEMENT AT “ENGURHES””

May 5, 2017 - LLC Enguri Tourist Center conducts market research, aiming estimate cost of preparation of detailed design and budget of expenditure of development of dam of EngurHES and arrangement of tourist site there, the newspaper reports.

Bids should be submitted, considering enclosed specification, by May 11.