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Economic Press Monitor

May 1 - 7, 2022

Previous Issues:  Days: < 23 30 07 14 21 > 

 

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economic & politics

    TABULA: “A NEED FOR REVISION HAS APPEARED” – JUSTICE MINISTER EXPLAINS PRICE INCREASE FOR PASSPORT AND ID CARD”

    May 3, 2022 - From May 1, getting a biometric passport in Georgia will cost 150 lari instead of 100 lari, while an electronic ID card – 60 lari instead of 30 lari.

    While explaining the move, Georgia’s Justice Minister Rati Bregadze noted that “fees were last set in 2011 and, naturally, a need for revision has appeared”.


macroeconomics & budget

    FORBES GEORGIA: “GEORGIA RANKS 82ND IN THE WORLD IN TERMS OF INCOME PER CAPITA”

    May 6, 2022 - IMF reported that as of 2021, Georgia ranks 82nd among 192 countries in terms of average income per capita. In 2020, the country was on the 86th place.


    BANKEBI DA FINANSEBI: “TO A CERTAIN EXTENT, TAX BURDEN WILL BE FACILITATED FOR PERSONS ENGAGED IN ECONOMIC ACTIVITY – IN TERMS OF PROPERTY TAX”

    May 3, 2022 - In 2022, tourism-related businesses in Georgia will be exempted from property tax, except for land tax, the newspaper reported.

    At that, draft of respective legislative amendments does not exempt an enterprise/organization from current payments of property tax.


energy, oil & gas

    NETGAZETI.GE: “LARGE HPPS SHOULD BE BUILT WITH THE STATE PARTICIPATION – GARIBASHVILI”

    May 2, 2022 - Georgia’s Prime Minister Irakli Garibashvili declared that the projects of large hydroelectric power plants (HPPs) – Namakhvani, Nenskra, Khudoni, should be implemented only with the state participation. Economic team of the Georgian government is developing a respective plan, he indicated.


companies

    BANKEBI DA FINANSEBI: “IN TBILISI, WATER SUPPLY IS A SERIOUS PROBLEM – EXISTING NETWORK OF “GWP” DOES NOT STAND UP TO CRITICISM, IS IN VERY GRAVE CONDITION”

    May 5, 2022 - Water supply in Tbilisi is a serious problem, since the existing network of GWP (Tbilisi water company) is in very grave condition, Tbilisi Mayor Kakha Kaladze told journalists.

    The Mayor pointed that “the accidents are very frequent”.


    BANKEBI DA FINANSEBI: “PREMIER – PLEASANT INFORMATION ABOUT “BORJOMI” WILL BECOME KNOWN SOON”

    May 2, 2022 - Georgia’s Prime Minister Irakli Garibashvili declared that as the Russian owner of Borjomi has fallen under sanctions (because of Russia’s invasion of Ukraine), “we are actively working on all these problems”.

    “I don’t want to talk about the details today”, the Premier told journalists, while assured that “we will soon tell the citizens very pleasant information” about Borjomi.


transport & communications

    REZONANSI: “IN THE GEORGIAN CORRIDOR, TARIFF FOR TRANSPORTATION PERMITS IS DOUBLING”

    May 6, 2022 - Since May, Georgian Land Transport Agency has adopted new regulations for international transportation and increased the fee for transportation permits, the newspaper reports.

    The article specifies that, according to the new regulation, a one-time permit will cost 140 lari instead of 70 lari, while a permit of accelerated type – 200 lari instead of 100 lari.


ecology & health

    FORBES GEORGIA: “PROBLEMS OF UNIVERSAL HEALTHCARE”

    May 6, 2022 - The article presents the results of a survey on the problems of universal healthcare in Georgia, conducted in October-December 2021 under the auspices of non-governmental organizations.

    Within the framework of the survey, the attitude of various interested parties to tariffs and current tariffing process within the universal healthcare program had been studied.


    REZONANSI: “OVER THE PAST YEAR, EARTHQUAKES HAVE BECOME VERY ACTIVE – WHAT IS THE POWER OF EARTHQUAKE SHOCKS RECORDED IN EASTERN GEORGIA?”

    May 2, 2022 - On May 1, earthquake of 5.3 magnitude occurred in Georgia at 23:45 local time, which epicenter was 11 km from the village of Sameba (Samtskhe-Javakheti region). Earth tremors were also felt in Tbilisi.


finances & banking

    REZONANSI: “THE MAIN THING IS TO RESOLVE THE ISSUE OF THE POLITICAL STRUCTURE OF THE DIGITAL LARI – PAPUNA LEZHAVA”

    May 5, 2022 - Papuna Lezhava, vice-president of National Bank of Georgia, declared that the pilot program of the digital lari is planned to launch by the end of 2022. “However, exact format and scale of this pilot program is still in the process of consideration at this stage”, he noted.


    BANKEBI DA FINANSEBI: “RULE FOR ISSUING A MORTGAGE LOAN HAS CHANGED”

    May 3, 2022 - Since May 1, National Bank of Georgia (NBG) has changed the rule for issuing a mortgage loan. NBG noted major part of mortgage loans is issued with a floating rate, which is accompanied by interest risk.


tourism

    REZONANSI: “DURING THE SEA SEASON, APARTMENTS WILL BECOME CATASTROPHICALLY EXPENSIVE AND THERE WILL BE A SHORTAGE OF APARTMENTS FOR RENT”

    May 5, 2022 - Russia’s war in Ukraine has greatly Georgia affected – products have risen in price, inflation has increased, the newspaper says. At that, citizens from Russia and Ukraine, escaping the war, have arrived in Georgia, which increased the price of apartment rent, the article notes.


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