Economic Press Monitor September 4 - 10, 2022	Days:  13 03 10 17 24

economic & politics

TABULA: “RENT FOR 49 YEARS, PLOTS FOR 1 LARI ANNUALLY – RUSSIA PUBLISHES THE AGREEMENT ON PITSUNDA”

September 9, 2022 - De-facto authorities of Abkhazia hand over to Russia the former cottages of top Soviet leaders at the seaside resort of Pitsunda. The corresponding agreement was signed on January 19, while the object will be passed to Russia free of charge in 6 months after the agreement enters in force, Tabula reports with reference to Russian source.




REZONANSI: “BILL “ON PRIVATE VOLUNTARY PENSION” WILL BE CONSIDERED AT THE AUTUMN SESSION”

September 8, 2022 - Georgian Parliament plans consideration of the bill “On Private Voluntary Pension” during the autumn session. The document is drafted by the Ministry of Economy and Sustainable Development.




FORBES GEORGIA: “WHAT COMPANY WAS CONNECTED TO THE NAME OF UCHA MAMATSASHVILI IN RUSSIA?”

September 8, 2022 - Income of the Russian company Geo Organics last year was equivalent to $5.1 million (at the exchange rate of 2021), while profit – to $272,000, the magazine reports, referring to the Russian accounting information system.

The company holds licenses for trade in food supplements, pharmaceuticals and perfumery.




TABULA: “CRRC: 35% OF THE POPULATION SAY THAT DEOLIGARCHIZATION CONCERNS IVANISHVILI, 3% CONSIDER THAT SAAKASHVILI”

September 8, 2022 - Survey, conducted by the Caucasian Research Resources Center (CRRC), shows that 35% of Georgians say that while speaking about a deoligarchization, the EU implies Bidzina Ivanishvili (billionaire founder of ruling Georgian Dream), Tabula reports.

At that, 52% say that does not know to whom demand of deoligarchization concerns.




REZONANSI: “PEOPLE FEAR TO LEASE APARTMENTS – “THE GROUP OF PEOPLE HAS BEEN FORMED, WHO BREAK INTO HOUSE AND THEN DO NOT QUIT””

September 7, 2022 - In Georgia, eviction by means of police was cancelled on December 29, 2015, and eviction from the real estate became impossible without court ruling.

Ani Mirotadze, former MP (from the ruling Georgian Dream) and one of authors of these amendments, says that upon initiation of the amendments, the matter concerned protection of owners of apartments, who have mortgaged their real estate.




REZONANSI: “TWO PARALLEL PROCESSES – WHAT FATE EXPECTS FULFILLMENT OF EUROPEAN COMMISSION’S RECOMMENDATIONS”

September 7, 2022 - Within the autumn session, Georgian Parliament will consider legislative initiatives on implementation of 12 recommendations of the EU (mandatory for obtaining the status of the candidate country for EU membership). The opposition is going to present own legislative package, the newspaper notes.




NETGAZETI.GE: “I CANNOT SAY FOR 100% THAT IT DOES NOT OCCUR, BUT WE WORK ON IT – DEGNAN ON AVOIDANCE OF SANCTIONS”

September 7, 2022 - The US ambassador in Georgia Kelly Degnan says that she cannot say with a 100% accuracy that there is no Georgia-employing avoidance of economic sanctions, imposed against Russia.

However, the US closely works with the state departments (of Georgia) to shut all loopholes for a circumvention of sanctions, the ambassador indicates.




REZONANSI: “ABKHAZIANS OPEN THE “BORDER” – SHOULD OR NOT THE AUTHORITIES AGREE TO THE TRANSIT OF GOODS VIA ABKHAZIA”

September 6, 2022 - Abkhazian media channels report that the issue of cancellation of the order, issued in 2008 by former de-facto president of Abkhazia Sergei Bagapsh, is being considered. This order prohibits movement of any goods by bridge over the Enguri River (administrative border of Abkhazia with the rest Georgia), except for those intended for personal consumption.

macroeconomics & budget

BANKEBI DA FINANSEBI: “MAGLAPERIDZE – AMOUNT PAID BY EACH CITIZEN TO “PUBLIC BROADCASTER”, AS OF 2021, MAKES UP 1 LARI AND 30 TETRI MONTHLY”

September 9, 2022 - Vasil Maglaperidze, chairman of the trustees’ board of Georgian Public Broadcaster, declared that the amount paid by each Georgian citizen to the Public Broadcaster, as of 2021, made up 1.30 lari monthly.

While presenting a report for 2021 to the Parliament, Maglaperidze specified that this amount was obtained by division of the annual budget of the Public Broadcaster on the country’s population size.

energy, oil & gas

REZONANSI: “PETROL PRICE DECREASED BELOW 3 LARI, WHILE OIL RETURNED TO THE PRE-WAR MARK”

September 8, 2022 - In Georgia, wholesale market price of petrol fluctuates within 2.9-2.95 lari, the newspaper reports.

Vano Mtvralashvili, chairman of Georgian Oil Importers Union, indicates that in Georgia, fuel starts cheapening from mid-July.

companies

FORBES GEORGIA: “HOW MANY MILLIONS IN REVENUE DOES GAMBLING COMPANY “EVOLUTION GEORGIA” HAVE?”

September 9, 2022 - The magazine reports that in 2021, income of the gambling company Evolution Georgia amounted to 145.3 million lari (year-on-year growth – 54%). Net profit of the company made up 13.4 million lari (growth – 2.1 times).




FORBES GEORGIA: “TOP TEN OF LARGEST INVESTOR COMPANIES IN GEORGIA”

September 9, 2022 - The magazine reports that according to Sakstat, foreign direct investments, made in Georgia in the 2^nd quarter, totaled to $351.8 million (year-on-year growth – 9.1%).

The largest volume of investments was made by companies, engaged in energy, finance, logistics, real estate, trade, etc.




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, A WELLNESS COMPLEX WAS OPENED IN TSKALTUBO”

September 6, 2022 - A wellness complex has been opened in Tskaltubo (a balneological resort in Imereti region), which project cost makes up 20 million lari.

The financing, issued by Sakartvelos Banki (Bank of Georgia) under the state program “Produce in Georgia”, makes up 35% of the project cost, the magazine reports.




FORBES GEORGIA: “CHANGES IN MANAGEMENT OF “SAKARTVELOS BANKI””

September 5, 2022 - Mikheil Gomarteli will continue strategic project management at Sakartvelos Banki (Bank of Georgia) from the position of deputy director, the magazine reports. He has been working at the bank for 25 years.

transport & communications

TABULA: “FINES FOR SPEEDING ARE INCREASING – INITIATIVE OF THE INTERIOR MINISTRY”

September 5, 2022 - On September 5, Georgian Interior Ministry will present to the Parliament’s Bureau the initiative on increase of fines for speeding.

In particular, if the speed limit is exceeded by more than 40 km/h, the fine will make up 300 lari instead of current 150 lari, Tabula reports, referring to Public Broadcaster.

ecology & health

TABULA: “IN PAST 1 WEEK, 8 PEOPLE DIED OF COVID-19, 12,787 CASES WERE CONFIRMED”

September 7, 2022 - From August 28 through September 2, there were 12,787 new cases of COVID-19 confirmed in Georgia. In the past week, 8 people died.




BANKEBI DA FINANSEBI: “HEALTHCARE MINISTRY- A RECORD HIGH RATE OF IMPORT FROM TURKEY WAS RECORDED IN AUGUST”

September 5, 2022 - Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection reported that medicines worth $6.4 million were imported from Turkey in August, which is a record-high rate.

The Minister Zurab Azarashvili said that as a result of opening of the Turkish pharmaceutical market, the Georgian population will save annually about 180-200 million lari.

agriculture & food

REZONANSI: “FLOUR WILL BECOME EVEN CHEAPER SOON AND, SUPPOSEDLY, WILL REACH THE PRE-PANDEMIC PRICE”

September 6, 2022 - Malkhaz Dolidze, head of Georgian Bread Producers Association, confirms a significant decrease of flour prices. Bread producers had to pay 80-82 lari for a sack of flour, while now the price has dropped to 75-76 lari, he says.