Economic Press Monitor November 6 - 12, 2022	Days:  29 05 12 19 26

economic & politics

BANKEBI DA FINANSEBI: “IN COOPERATION WITH BUSINESS ASSOCIATION, REVENUE SERVICE ADOPTED A NEW REGULATION RELATED TO WRITE-OFF OF FRAGILE GOODS”

November 10, 2022 - Georgian Revenue Service decided to allow the write-off of fragile goods without invitation of the appropriate specialist. This right is granted to taxpayers of large or medium category.




TABULA: “EUROPEAN PARLIAMENT RECOMMENDS ERADICATING IVANISHVILI’S EXCESSIVE INFLUENCE”

November 9, 2022 - The European Parliament’s Committee on Foreign Affairs supported compromise amendments to the report on Georgia’s implementation of the EU-Georgia Association Agreement, Tabula reports.

The European Parliament stresses the need to eradicate the excessive influence of private interests on the economic, political and public life of Georgia.

macroeconomics & budget

REZONANSI: “STABILITY AND STRENGTHENING OF LARI WILL CONTINUE, ESPECIALLY IN RELATION TO EURO”

November 7, 2022 - TBC Capital forecasts that exchange rate of lari against the US dollar at the end of this year will remain around mark of 2.8 GEL/USD, while against euro – 2.77 GEL/EUR.

During 2023, the exchange rate will range around 2.9 GEL/USD and 3.07 GEL/EUR, the company projects.

energy, oil & gas

REZONANSI: “FUEL PRICE INCREASES GLOBALLY, WHILE DECREASES IN GEORGIA!”

November 11, 2022 - There is already more than a week that oil price increases on the world market, while Georgia maintains positive dynamics, the newspaper says. After essential hike, cost of fuel in the country started reduction in July and continues until now.




REZONANSI: “SHOULD A NEW GAS PIPELINE BE BUILT VIA GEORGIA?”

November 8, 2022 - Referring to reports in Azerbaijani media, the newspaper indicates that Turkmenistan keeps on the agenda the issue of building a gas pipeline to transport gas from the Caspian Sea to Europe via Georgia.

Georgian experts estimate that in future, if the demand for gas increases, construction of new gas pipeline is theoretically admissible.




BANKEBI DA FINANSEBI: “DURING THE FIRST 9 MONTHS OF 2022, 22M TONS OF CRUDE OIL WAS EXPORTED VIA BAKU-TBILISI-CEYHAN”

November 7, 2022 - Referring to report of oil company BP, the newspaper reports that about 22 million t (about 164 million barrels) of crude oil and condensate was exported via Baku-Tbilisi-Ceyhan pipeline (BTC) in the first 9 months of this year. In Ceyhan terminal (Turkey), the oil was loaded on 224 tankers.

conflict and court

REZONANSI: “WILL THE CASE OF SO-CALLED CALL CENTERS LEAD THE INVESTIGATIVE AUTHORITIES OF THREE COUNTRIES TO DAVID KEZERASHVILI AND WHAT CONNECTS THE DETAINEES WITH HIM?”

November 10, 2022 - As part of the transnational investigation into the case of so-called call centers, a large-scale action was held simultaneously in 3 countries – Georgia, Albania and Northern Macedonia.

The action was taken by the Eurojust-supported international investigative team, established with participation of Georgian Prosecutor’s Office and the competent authorities of 7 countries.




NETGAZETI.GE: “PROSECUTOR’S OFFICE INVESTIGATES POSSIBLE EMBEZZLEMENT IN THE CITY HALL – WILL THEY INTERROGATE KALADZE TOO?”

November 8, 2022 - The Prosecutor’s Office of Georgia has launched an investigation into the case, which concerns the likely abuse of authority and embezzlement of funds in Tbilisi City Hall, Netgazeti.Ge reports.

The case concerns the exchange of 2 plots in the forest zone of Tskneti (elite cottage settlement, bordering Tbilisi), purchased by some businessman, for 6 plots on the territory of Tbilisi that are in municipal ownership.

companies

FORBES GEORGIA: “150 MOST PROFITABLE COMPANIES IN GEORGIA”

November 11, 2022 - In 2020, total income of Georgia’s 150 largest private companies, excluding the banking sector, amounted to 28 billion lari, the magazine reports. The rating is dominated by companies, engaged in the sectors of energy, fuel import, retail trade, healthcare, communications, etc.




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, “CITYZEN” CREATES DISTINGUISHED AND DIVERSE LIVING SPACE IN TBILISI”

November 10, 2022 - With the support of Sakartvelos Banki (Bank of Georgia), company Cityzen is implementing the Cityzen Central Park project at the intersection of Tamarashvili and University Streets in Tbilisi. The volume of investments totals to $180 million.




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, “NIKORA” WILL OPEN A NEW ENTERPRISE”

November 9, 2022 - LLC Nikora (production and sale of meat and dairy products) plans to open a new enterprise. Total cost of the project makes up 30 million lari, which will be fully financed by a loan from Sakartvelos Banki (Bank of Georgia).




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, “CHIORAHES” IS BEING BUILT IN ONI”

November 8, 2022 - In 2020, construction of hydroelectric station ChioraHES with installed capacity of 17 MW was started in Oni municipality of Racha region, the magazine reports. Total cost of the project makes up $26 million, $20.1 million of which was allocated by Sakartvelos Banki (Bank of Georgia).

transport & communications

REZONANSI: “WE HOLD NEGOTIATIONS ON DIRECT AIR COMMUNICATION BETWEEN LONDON AND TBILISI – MARIAM KVRIVISHVILI”

November 9, 2022 - Mariam Kvrivishvili, Georgia’s Deputy Minister of Economy and Sustainable Development, holds negotiations within the framework of the World Tourism Market in London (“WTM London”).

In particular, a meeting was held with easyJet, Kvrivishvili said, specifying that Georgian side holds negotiations with this British low-coster regarding direct air communication between London and Tbilisi.




REZONANSI: “TECHNICAL INSPECTION TARIFF MAY INCREASE?”

November 7, 2022 - Giorgi Shiolashvili, executive director of Inspection Centers’ Union, indicates ted that over 1.5 million cars are registered in Georgia, while as of 2021, up to 730,000 cars have passed technical inspection. Accordingly, share of those cars, which passed the inspection, makes up 48%, he points.

agriculture & food

REZONANSI: “EXPORT OF GEORGIAN SHEEP DROPPED SHARPLY, PRICE HAS ALSO DECREASED”

November 9, 2022 - This year, Georgia exported small cattle of $16.9 million, in which Azerbaijan accounted for $8.4 million. The newspaper indicates that last year, export of sheep made up $24 million.

construction

REZONANSI: “NEW BUILDINGS ARE BEING BUILT FOR VICTIMS OF COOPERATIVE HOUSING CONSTRUCTION”

November 11, 2022 - There are about 3,100 families in Tbilisi, which suffered of cooperative housing construction (planned, but not implemented by the state), says Irakli Tavartkiladze, head of property management service at Tbilisi City Hall. This is a debt, recognized by the state in 1998, he notes.