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Economic Press Monitor

November 4 - 10, 2018

Previous Issues:  Days: < 27 03 10 17 24 > 

 

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economic & politics

    FORBES GEORGIA: “PRIVATE SECTOR’S INCLUSIVENESS IN LEGISLATIVE PROCESS”

    November 9, 2018 - The magazine publishes article of Tamar Chugoshvili, vice speaker of Georgian Parliament, who points that better mechanism of cooperation between the Parliament and the private sector has to be created and the best format for this purpose is expansion of activity of council of the open Parliament. She indicates that this idea belongs to American Chamber of Commerce.


    BANKEBI DA FINANSEBI: “MONETARY FUND POINTS AT LACK OF COMPETITION IN BANKING AND MEDICAL SECTORS”

    November 8, 2018 - IMF considers that Georgia has to take care not to allow development of high concentration in certain sectors of economy, such as banking and medical care, into anti-competitive practice, the newspaper reports.

    The article specifies that the mentioned recommendation is included in the IMF report “Caucasus and Central Asia: Unlocking the Region’s Growth Potential”.


    TABULA: “GOTSIRIDZE: PARTSKHALADZE AND IVANISHVILI’S CLAN ARE SO TIED THAT WILL NOT BE ABLE TO SACRIFICE EACH OTHER”

    November 7, 2018 - Commenting on case of former chief prosecutor Otar Partskhaladze, MP from opposition National Movement Roman Gotsiridze declares: “Partskhaladze and Ivanishvili’s clan are so tied with each other that they will not be able to sacrifice each other, even if want to do”.

    Yesterday, Tbilisi City Court released on a bail of 5,000 lari Partskhaladze, who is accused of beating in 2017 of former chief of State Audit Service.


    FORBES GEORGIA: “IN GEORGIA, RULE CHANGES OF RESIDENCE PERMIT’S OBTAINING”

    November 7, 2018 - The magazine reports that by initiative of the ruling party, rule of residence permit’s obtaining in Georgia will be amended. As the article says, corresponding legislative package envisages amendment of conditions of issuing of investment permission, short-term permission and D5 visa.


    BANKEBI DA FINANSEBI: “BUSINESS IS INVOLVED IN SOCIAL MESS – PENSION REFORM BEGINS”

    November 6, 2018 - Regarding pension reform, which will be launched in 2019, a part of experts considers that it is obligatory and making effective steps can be even considered late, the newspaper says.

    However, other part of experts considers that implementation of the reform in offered form is categorically unacceptable, the article points.


    TABULA: ““TI”: 9 OFFSHORE AND OVER 70 GEORGIA-REGISTERED COMPANIES ARE CONNECTED WITH IVANISHVILI”

    November 5, 2018 - TI Georgia, Georgian branch of Transparency International, indicates that at least, 9 offshore and over 70 Georgia-registered companies are connected with Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream.

    As the organization declares in its report, Ivanishvili’s influence on the government creates danger that the related companies will get advantages from the state.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “MONETARY FUND – CURRENCY RESERVES IN GEORGIA ARE ON LOW MARK”

    November 9, 2018 - The IMF estimates that currency reserves in Georgia are on a mark, which is below the so-called adequate minimum level. The newspaper specifies that among countries of the Caucasus and Central Asia, only Georgia does not meet the minimum standard, established by the IMF.


    TABULA: “FINANCE MINISTER: DEVALUATION OF LARI IS GUILT OF RHETORIC AND DIRT FROM OPPOSITION”

    November 9, 2018 - Georgia’s Finance Minister Ivane Machavariani declares that “The mark, where lari is today, has absolutely no economic grounds”.

    “It is usual hullabaloo, caused by that dirty campaign, which the opposition mostly conducts”, the Minister considers.


    NETGAZETI.GE: “IF NATIONAL BANK BEGINS INTERVENTIONS, WE’LL FIND OURSELVES IN EVEN WORST STATE – CHKONIA ON LARI EXCHANGE RATE”

    November 8, 2018 - Founder of Coca-Cola Bottlers Georgia Temur Chkonia considers that devaluation of lari can be attributed to existence of “black money” in the country in election period, Netgazeti.Ge reports. “During the period of election campaign, there must be certain limit for expenditure”, the businessman declares.


    FORBES GEORGIA: “EBRD EXPECTS IN GEORGIA ECONOMIC GROWTH OF 4.5% THIS YEAR”

    November 6, 2018 - According to forecast of EBRD, Georgian economy will grow by 4.5% in 2018, as well as in 2019, the magazine reports.

    As EBRD notes, the country’s economy grew by 5% in 2017, while in 6 months of this year – by 5.4%, however the growth has slowed down then.


    REZONANSI: “WITH SUCH LARI EXCHANGE RATE, AUTHORITY WILL LOSE ELECTIONS”

    November 6, 2018 - The newspaper expects that in the next days, lari will depreciate even more, and if the rate will change like this, the authorities will lose presidential elections.

    Financial market expert Nika Shengelia assumes that the rate can exceed mark of 2.8 GEL/USD.


    TABULA: “FINANCE MINISTER: LARI IS STRENGTHENED AGAINST ALL MAIN TRADE PARTNERS”

    November 5, 2018 - There is over a month that lari depreciates against the US dollar, euro and British pound almost daily, Tabula states. The article notes that lari depreciated more than once against Turkish lira too.


    BANKEBI DA FINANSEBI: “KOBA GVENETADZE: THERE IS NO UNAMBIGUOUS RELATION BETWEEN INFLATION AND EXCHANGE RATE”

    November 5, 2018 - The newspaper publishes consideration on inflation and exchange rate, posted in social network by Koba Gvenetadze, president of National Bank of Georgia (NBG).

    “There is no unambiguous relation between inflation and exchange rate”, and “inflation is not determined by exchange rate only”, Gvenetadze writes.


energy, oil & gas

    REZONANSI: “IN SEVERAL DAYS, CAR GAS WILL RISE IN PRICE BY 5-10 TETRI”

    November 9, 2018 - In the next few days, car gas will rise in price by 5-10 tetri, the newspaper points.

    The article notes that companies explain a rise in price with prime cost, increased in recent period because of currency crisis.


    REZONANSI: “GAS TO RISE IN PRICE BY 5 TETRI AND TO RETURN TO THE 6-YEAR-OLD MARK”

    November 7, 2018 - Georgian National Energy and Water Supply Regulating Commission declared about consideration of application of gas-distributor companies, which request revision of the tariff. Current tariff is valid until end of the current year.


    KVIRIS PALITRA: “KEZERASHVILI’S SUCCESSORS: OIL TRANSPORTATIONS NOW ARE UNDER CONTROL OF MAMATSASHVILI AND PARTSKHALADZE?”

    November 5, 2018 - Several companies and non-governmental sector accuse Georgian Railway of corruption deals and oligopoly promotion, the newspaper reports. The article notes that Georgian Railway answered these charges in writing, naming them a lie.


conflict and court

    FORBES GEORGIA: “BRITISH COURT CONVICTED IRAKLI RUKHADZE OF MISAPPROPRIATION OF BILLION-WORTH PROJECT OF “SALFORD””

    November 8, 2018 - In ruling, made on November 1, British court stated that Irakli Rukhadze, founder of Hunnewell Partners and factual manager of assets of late billionaire Badri Patarkatsishvili, violated own obligations, the magazine reports.

    By the court ruling, Rukhadze acted on the post of director of Salford Capital Partners () against interests of the company.


transport & communications

    TABULA: ““TBILISI TRANSPORT COMPANY” ANNOUNCED TENDER ON PROCUREMENT OF 220 NEW BUSES”

    November 8, 2018 - Tbilisi Transport Company announced last week the tender on procurement of 220 new buses, having length of 8 m, Tabula reports. As the article specifies, the tender will be completed in the next few days.


construction

    NETGAZETI.GE: “COURTS OF HIPPODROME WILL BE RETURNED TO MUNICIPALITY OF TBILISI – KALADZE”

    November 7, 2018 - Tbilisi Mayor Kakha Kaladze declared that part of tennis courts, located on territory of former hippodrome in Saburtalo district, will be returned to municipality. In 2009, this territory was acquired by foreign company for purpose of development, he noted.


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