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Economic Press Monitor

May 31 - June 6, 2020

Previous Issues:  Days: < 23 30 06 13 20 > 

 

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economic & politics

    NETGAZETI.GE: “UNDER THE BILL, STAY IN CLOSED SPACE WITHOUT MASKS WILL BE FINED WITH 50 LARI”

    June 5, 2020 - For stay without masks in closed public space and in public transport (including taxi), individuals will be fined with 50 lari, Netgazeti.Ge reports.

    In that case, if legal entity does not ensure wearing of masks by individuals, that entity will be fined with 500 lari.


    BANKEBI DA FINANSEBI: “GOTSIRIDZE TO KOBA GVENETADZE – HOW YOU DARE TO SELL ALWAYS PER 40M, IS IT FORTUNETELLER TOLD YOU, IT’S A MAGIC NUMBER?”

    June 5, 2020 - Roman Gotsiridze, chairman of fraction of opposition National Movement in Georgian Parliament (and president of National Bank of Georgia (NBG) in the period of ruling of National Movement), declares that “everybody think that the way out from this crisis [caused by COVID-19 pandemic] is in waste of money”. “The government spends attracted billions in a thousand directions, including the corruption direction”, he asserts.


    TABULA: ““TI”: OWNERS OF HOTEL DONATED 65,000 TO “DREAM”, THE GOVERNMENT SIGNED CONTRACT OF 277,000 LARI WITH THEM”

    June 3, 2020 - Referring to TI Georgia (Georgian branch of Transparency International), Tabula reports that owners of hotel Kvarlis Edemi, located in Kakheti region, donated 65,000 lari to ruling Georgian Dream on March 20-23. In several days, the government signed with the hotel a simplified procurement contract of 277,300 lari.


    TABULA: “UNICEF: IN GEORGIA, 50,400 CHILDREN AGED FROM 3 TO 17 YEARS HAVE NO INTERNET AND COMPUTER AT HOME”

    June 2, 2020 - According to survey of UNICEF, 29,800 children in Georgia have no conditions for washing hands with water and soap at home, respectively, risk of COVID-19 infection is higher among them.

    At that, the survey indicates that 50,400 children in Georgia aged from 3 to 17 years have no Internet and computer at home.


macroeconomics & budget

    TABULA: “FOR QUARANTINE ZONES, 3.5M LARI WERE SPENT FROM THE BUDGET”

    June 5, 2020 - Referring to report of Georgian government on measures against COVID-19 pandemic, Tabula reports that 32.5 million lari were spent from the budget for arrangement of quarantine zones. The government started creation of quarantine zones since March 10.


    TABULA: “PENSION AGENCY PLACED ACCOUNT BALANCE, EXISTING IN NATIONAL BANK, IN COMMERCIAL BANKS”

    June 4, 2020 - Georgian Pension Agency decided to distribute among commercial banks the account balance of 84 million lari, existing in National Bank of Georgia (on which the refinancing rate, 8.5%, was accrued), Tabula reports.

    In total, pension assets amount to 780 million lari.


    FORBES GEORGIA: “NONRESIDENT PERSONS OF GEORGIA SOLD STATE SECURITIES – IMF”

    June 3, 2020 - Referring to bm.ge, the magazine reports that according to updated estimation of the IMF, foreign residents sold securities, issued by Georgian government, against the background of devaluation of lari. The matter concerns treasury bills and treasury bonds.


    TABULA: “KOVZANADZE: CORRECTED BUDGET WILL ENTER THE PARLIAMENT ON JUNE 5”

    June 2, 2020 - Irakli Kovzanadze, chairman of Georgian Parliament’s Fiscal Committee, declared that the government of the country will submit corrected version of the state budget-2020 to the Parliament on June 5. In its turn, the Committee will prepare the schedule in order parliamentary committees could start consideration of the updated budget, he notes.


companies

    FORBES GEORGIA: “RATING OF BEER PRODUCERS”

    June 5, 2020 - The magazine publishes rating of Georgian beer producers according to their income for 2018. Data of the rating are confirmed by consulting companies Grant Thornton and Ebit Group.


    NETGAZETI.GE: “COOPERATION OF “FINCA BANK” AND “SYMBIOTICS” IN DIRECTION OF ENTREPRENEURS’ CREDITING CONTINUES”

    June 4, 2020 - FINCA Bank Georgia signed agreement with Symbiotics, under which has received 15 million lari for support of micro, small and medium business, Netgazeti.Ge reports.

    Symbiotics is an investment platform, operating in 90 emerging economics.


ecology & health

    BANKEBI DA FINANSEBI: “EKATERINA TIKARADZE WILL NOT COME TO THE PARLIAMENT TOMORROW”

    June 3, 2020 - Ekaterina Tikaradze, Georgia’s Minister of IDPs from Occupied Territories, Labor, Healthcare andSocial Protection, addressed the Parliament’s Committee for Healthcare and Social Issues with request to postpone committee hearing until about last week of June. About this, the Minister said in the released statement.


    TABULA: “IN AUTUMN, STUDY OF COVID-19 WILL BE CONDUCTED COUNTRYWIDE BY RANDOM PRINCIPLE”

    June 3, 2020 - Amiran Gamkrelidze, head of Georgian National Center for Disease Control, said that in autumn, study of COVID-19 will be conducted countrywide by random selection principle.

    As Gamkrelidze explained, classical research of seroprevalence is planned in cooperation with the US Centers for Disease Control and the World Health Organization.


    BANKEBI DA FINANSEBI: “ON ALL OVERLAND PASSAGES, TRAILERS ARE PLACED AND QUICK TESTS ARE MADE TO TRUCK DRIVERS”

    June 1, 2020 - Amiran Gamkrelidze, head of Georgian National Center for Disease Control, says that quarantine requirement remains in force and all persons, arriving to Georgia, have to pass a 2-week quarantine, and then tests will be made to everybody. “In all four countries around us, with which we have direct border, there is not enviable situation” (in respect of COVID-19), he specifies.


finances & banking

    BANKEBI DA FINANSEBI: ““TBC” STARTS SECOND WAVE OF CREDIT POSTPONEMENTS FROM JUNE 13”

    June 4, 2020 - TBC Bank offers 3-month postponement of credit payments to those suffered because of COVID-19 pandemic clients, who lost their jobs or whose income is reduced, the newspaper reports. This offer could be utilized from June 13.


construction

    BANKEBI DA FINANSEBI: “IF DEVELOPERS DO NOT DECREASE THE PRICE, SUBSIDIZING OF 4% WILL BE NO HELP AT ALL – CHARAIA”

    June 2, 2020 - Vakhtang Charaia, director of Analysis and Forecasting Center at Tbilisi State University (TSU), considers that subsidizing by Georgian government of mortgage loans (co-funding of interest rate) benefits both citizens and business.

    According to Charaia, “What the government has did, is a certain incentive for those people, who are going to buy apartments”.


    BANKEBI DA FINANSEBI: “IRAKLI BURDILADZE – WE SHOULD NOT EXPECT THAT REAL ESTATE PRICES WILL GROW, THAT IS EXCLUDED”

    June 1, 2020 - “In no case we should expect that real estate prices will grow, strike that”, representative of Real Estate of Georgia – m² Irakli Burdiladze declares. “Prices could decline so much that some developers will leave business at all”, he assumes.


tourism

    FORBES GEORGIA: ““FORBES” NAMES 7 COUNTRIES, HAVING POTENTIAL OF LEADING TOURIST DIRECTION, AND GEORGIA AMONG THEM”

    June 2, 2020 - Among those countries, which can occupy the leading place in own region in the sector of tourism, American edition of Forbes names also Georgia, the magazine reports.

    Other 6 countries are Iran, Myanmar, Ethiopia, Philippines, Slovenia and Tunisia.


    BANKEBI DA FINANSEBI: “BATUMI IS IN EUROPE’S TOP 10 SAFE TOURIST DIRECTIONS”

    June 1, 2020 - Travel web portal European Best Destinations emphasizes Georgia’s achievements in fight against COVID-19, while Tbilisi and Batumi are named among top 10 of safest cities in terms of the virus spread, Ajara Department of Tourism and Resorts reports.

    The portal also points that in comparison with the European capitals, crime level in Batumi is 5 times lower.


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