Economic Press Monitor June 5 - 11, 2022	Days:  28 04 11 18 25

economic & politics

FORBES GEORGIA: “EUROPEAN PARLIAMENT’S RESOLUTION: CONSIDER IMPOSITION OF PERSONAL SANCTIONS AGAINST IVANISHVILI”

June 10, 2022 - The European Parliament adopted a resolution, initiated by 5 political groups, in which expressed concern about deteriorating situation with media freedom in Georgia.

The resolution also calls for imposition of personal sanctions against Bidzina Ivanishvili (billionaire founder of the ruling Georgian Dream), the magazine reports.




TABULA: “UN ADOPTED RESOLUTION ON RETURNING HOME OF IDPS FROM OCCUPIED GEORGIAN TERRITORIES”

June 9, 2022 - The UN General Assembly has adopted a resolution that confirms the right on returning home of persons, forcibly displaced from the occupied regions of Georgia – Abkhazia and Tskhinvali.

The resolution was supported by 95 states, 56 abstained, 12 voted “against”, Tabula reported.




TABULA: “BORREL INTRODUCED PAWEL HERCZYNSKI AS THE EU AMBASSADOR TO GEORGIA”

June 9, 2022 - Josep Borrel, High Representative of the EU for Foreign Affairs and Security Policy, nominated Pawel Herczynski for the post of head of the EU delegation to Georgia.

Currently, the EU delegation is headed by Carl Hartzell, whose term of office is expiring.




BANKEBI DA FINANSEBI: “HOW MANY PEOPLE HAVE BEEN REGISTERED SINCE MARCH 1 IN THE LIST OF GAMBLING ADDICTS – DATA”

June 8, 2022 - Since March 1, 1,200 individuals have been registered as gambling and winning games addicts in the database of Georgian Finance Ministry’s Revenue Service, the newspaper reports. Of which, 14 persons were registered on the basis of a court order, while 1,105 persons requested registration themselves.




TABULA: ““TURNED INTO THEATRICAL PERFORMANCE” – ICC ABOUT COUNCIL OF INVESTORS UNDER THE PREMIER’ CHAIRMANSHIP”

June 8, 2022 - The International Chamber of Commerce in Georgia (ICC-Georgia) will not attend a meeting of the Investors Council, which will took place on June 7 under the chairmanship of Georgia’s Prime Minister Irakli Garibashvili, Tabula reports.

As ICC-Georgia explained, the reason is removal from the agenda of a question of unwarranted cancellation of residence permits by Security Service.




BANKEBI DA FINANSEBI: “PRESIDENT OF AMERICAN CHAMBER OF COMMERCE IN GEORGIA – COMPANIES ARE RELOCATING BUSINESSES OR OPENING NEW ONES IN GEORGIA, NEW OPPORTUNITIES ARE BEING CREATED”

June 8, 2022 - Meeting of the Investors Council, held on June 7 in administration of Georgian government, discussed “Georgia’s new opportunities, moreover against the background that is being created in the world”, declared Sarah Williamson, president of the American Chamber of Commerce in Georgia. “Companies are relocating businesses or opening new ones in Georgia”, she noted.




BANKEBI DA FINANSEBI: “THE EUROPEAN COMMISSION ALLOCATED FINANCING OF 1M EUR TO GEORGIA”

June 6, 2022 - In order to facilitate a feasibility study for Georgia’s intention to get status of an associated country of the Erasmus+ program, the European Commission has allocated 1 million EUR, the newspaper reports. The study was launched in June.

macroeconomics & budget

BANKEBI DA FINANSEBI: ““IF NO SHOCK APPEARS, INFLATION WILL APPROACH THE TARGET IN THE MIDDLE OF NEXT YEAR””

June 7, 2022 - Archil Mestvirishvili, vice president of National Bank of Georgia (NBG), declared that they expect that after exhaust of external factors, “inflation will return to the target [i.e. 3%] in the middle of the next year”.

“Our forecast is based on the current situation”, Mestvirishvili noted.

energy, oil & gas

REZONANSI: “FOR PRESERVATION OF ELECTRICITY AND GAS TARIFFS, A BIG STRUGGLE IS EXPECTED”

June 7, 2022 - From July 1, the gas tariff for non-household consumers is increasing, while the current tariff for household consumers is set until the end of 2022.

Giorgi Pangani, member of Georgian National Energy and Water Supply Regulating Commission, claimed that “a revision [of the tariff] will be carried out as planned in December, but we do not expect certain changes”.

conflict and court

REZONANSI: “IN “BORJOMI”, IT CAME TO A PHYSICAL CONFRONTATION – THERE IS TIGHTEST SITUATION ON THE SPOT”

June 8, 2022 - The newspaper reports that employees of Borjomi mineral water bottling plants have been holding a protest already for the 9^th day, demanding return to work of 50 illegally released workers, restoration of previous contractual conditions, 25% increase in wages, etc.

On June 7, there was a clash between the strikers and the police, the article indicates.

companies

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

June 10, 2022 - The new deputy director general of Sakartvelos Banki (Bank of Georgia) has become David Davitashvili, who will head the data analysis department, the magazine reports.

Davitashvili has been working at the bank since 2006, and since 2017 has been deputy chief operating officer for asset management and operational support.




FORBES GEORGIA: “TOP-10 INVESTORS WITH LARGEST FDI IN GEORGIA IN Q1”

June 10, 2022 - In foreign direct investments (FDI), made in Georgia in the 1^st quarter ($568 million), the largest share has Spain ($196 million).

The reason for Spain’s move to the 1^st place probably became the acquisition of GWP (Tbilisi water supply and sewerage company) by Aqualia, the magazine says.




FORBES GEORGIA: ““VEON GEORGIA” ACQUIRED BY GEORGIAN HOLDING COMPANY “CBS GROUP””

June 9, 2022 - Mobile operator VEON Georgia (known under the Beeline brand) was acquired by CBS Group – a holding company registered in Georgia, the magazine reports.

A corresponding agreement was signed between the founder of CBS Group Khvicha Makatsaria and VEON Georgia Holdings BV.




NETGAZETI.GE: “EXECUTIVE DIRECTOR OF “PETROCAS ENERGY GROUP” BOUGHT OUT STAKE FROM “ROSNEFT””

June 7, 2022 - Referring to bm.ge, Netgazeti.Ge reports about buy-out of 49% in Petrocas Energy Group from Russian Rosneft by Vano Nakaidze, founding partner and executive director of Petrocas Energy Group. The deal was concluded on May 11.




BATUMELEBI: “AJARA GOVERNMENT SOLD KOBULETI GREENHOUSES FOR 1.8M LARI WITH TERMS”

June 6, 2022 - The Ajara government sold greenhouses in Kobuleti at auction for 1.85 million lari, the newspaper reports. The property that was sold in one bid was acquired by LLC Agro Green.




BANKEBI DA FINANSEBI: ““NIELSENIQ” PRESENTED TO BAG MEMBERS RESULTS OF A STUDY OF TOBACCO PRODUCTION INTENDED NOT FOR LOCAL MARKET”

June 6, 2022 - The international research agency NielsenIQ acquainted members of the Business Association of Georgia (BAG) with the results of a study of cigarette packs (Empty Pack Survey), held in Georgia, the newspaper reports.

As the article specifies, the survey covers main trends in the 1^st quarter in relation to production in Georgia that is not intended for the local market.

transport & communications

REZONANSI: “SHARPLY INCREASED COST OF USING ROADS WILL NOT A BIT REDUCE CARGO TRAFFIC VIA GEORGIA”

June 10, 2022 - From June 20, Georgia’s fee for using roads by transit vehicles increases from 200 to 350 lari, the newspaper reports. The current tariff was set in 2010.




TABULA: “BECAUSE OF RISK OF ROCKFALL, RIKOTI PASS WAS CLOSED”

June 9, 2022 - Georgian Roads Department reported that the highway through the Rikoti Pass has been temporarily closed. As the reason, the Department named risk of rockfall upon construction of the Chumateleti-Khevi section of the East-West highway (E60).

ecology & health

BANKEBI DA FINANSEBI: “OVER THE PAST 3 YEARS, RESPONSIBILITY HAS BEEN ASSIGNED TO 543 DOCTORS, AND MEDICAL CLINICS HAVE BEEN FINED FOR 3,465,100 LARI”

June 6, 2022 - Research, conducted by the Young Barristers organization, shows that over the past 3 years (from January 1, 2019 through April 2022), Georgian medical institutions paid almost 3.47 million lari in favor of the budget because of own violations.

In the reporting period, 3,764 claims on medical institutions’ violations were registered.