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Economic Press Monitor

May 6 - 12, 2018

Previous Issues:  Days: < 28 05 12 19 26 > 

 

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economic & politics

    TABULA: ““TI” RESEARCH: 9% TRUST THE PRIME MINISTER COMPLETELY, 19% – DO NOT TRUST AT ALL”

    May 11, 2018 - According to research, published today by TI Georgia (Georgian branch of Transparency International), Georgian Prime Minister has full trust of 9% of population, while 19% do not trust him at all, Tabula reports. At that, 33% responded: “Partially, I trust, partially – no”.


    TABULA: “BY ORDER OF KVIRIKASHVILI, TOTAL REORGANIZATION STARTED IN ADMINISTRATION OF THE GOVERNMENT”

    May 10, 2018 - By order of Prime Minister Giorgi Kvirikashvili, reorganization is started in administration of the government, Tabula reports.

    The article points that scale of reorganization is unknown at this stage, as well as whether staff reduction will be carried out.


    KVIRIS PALITRA: “BLACK MARKET IN INTERNET”

    May 7, 2018 - Ucha Zakashvili, doctor of law at Tbilisi State University, points, while commenting on illegal trade in Internet, that this sphere “does not belong by current regulations to cyber-crime, as it was not topical upon creation of the Convention and has spread recently”.

    “The matter is complicated by the fact that web pages, by means of which illegal trade is conducted, are not hosted in Georgia”, Zakashvili specifies and notes: “Neither those numbers are registered in Georgia, from which messages are sent by Viber or other means”.


    LIBERALI: “DONOR OF “DREAM” PLANS CONSTRUCTION OF RESIDENCE HOUSE IN VERE GORGE”

    May 7, 2018 - Construction of multipurpose complex is planned in Vera Gorge in Tbilisi, nearby to Ateni Street, Liberali reports.

    The architectural service of the city did not issued final permission to the project yet, however approved the intermediate project and provided 15-day term for its correction, the article specifies.


macroeconomics & budget

    FORBES GEORGIA: “AMONG COUNTRIES OF THE REGION, EBRD FORECASTS HIGHEST ECONOMIC GROWTH IN GEORGIA”

    May 11, 2018 - EBRD forecasts for 2018 economic growth in Georgia of 4.5%, the magazine reports. The article notes that updated review of EBRD did not change the forecast for Georgia.


    FORBES GEORGIA: “THE WORLD BANK RAISED FORECAST OF GEORGIA’S ECONOMIC GROWTH”

    May 10, 2018 - The World Bank (WB), which forecasted for the current year economic growth in Georgia of 4.2%, now raised the forecast to 4.5%, the magazine reports.

    As the reason, improvement of external factors is named, which allows the WB to forecast growth of export, foreign direct investments and remittances in Georgia.


    REZONANSI: “IN RECENT YEARS, FOREIGNERS WITHDREW OVER $3B FROM GEORGIA”

    May 8, 2018 - Soso Archvadze, former deputy chair of Statistics Service, indicates that “in recent years, ratio of foreign direct investments to GDP slightly grows, however this did not assume such decisive form as it was in 2006-2007”.

    “If we take 2017, ratio of foreign direct investments to GDP was only 12.3%, whereas this indicator in 2007 made up 17.2%, while in 2006 – 15.1%”, Archvadze specifies.


energy, oil & gas

    REZONANSI: “IN TERMS OF EXPENSIVE ELECTRICITY, GEORGIA IS AMONG LEADERS OF THE REGION”

    May 11, 2018 - Referring to the report of National Energy and Water Supply Regulation Commission, the newspaper reports that electricity tariff in Azerbaijan is equivalent to 13.4 tetri per 1 kWh, in Russia – 13.8 tetri, Ukraine – 12.2 tetri, Armenia – 24.3 tetri, Moldova – 30.3 tetri, Turkey – 32.5 tetri. In Georgia, this tariff is around 19.2 tetri.


companies

    FORBES GEORGIA: ““GEORGIAN POST” BEGINS WORK ON TRANSIT PARCELS”

    May 8, 2018 - Levan Chikvaidze, director general of Georgian Post, declares that the post will offer businessmen an open platform in near future. By means of this platform, the post will deliver goods, purchased online, as within the country, as well as to any point of the world, he explains.


transport & communications

    REZONANSI: “TAXI LICENSE WILL BE 1-YEAR AND WILL COST AT LEAST 50 LARI”

    May 8, 2018 - Tbilisi Sakrebulo (city council) will approve conditions of issuance, cost and rule of payment of permission for passenger transportation by taxi, the newspaper reports.

    Sakrebulo members avoid so far to speak about the expected regulation, while chairman of the commission on transport issues Tedo Isakadze declares that details will be specified “within optimal terms”.


finances & banking

    TABULA: “KAKHA KIKNAVELIDZE: NEW REGULATIONS WILL STRONGLY INFLUENCE BANKS”

    May 11, 2018 - Kakha Kiknavelidze, executive director of Sakartvelos Banki (Bank of Georgia), considers that new norm, approved by National Bank of Georgia (NBG), will strongly influence banks and their customers.

    The matter concerns the norm, which entered in force on May 7, demanding banks to conduct thorough analysis of solvency of borrowers.


    TABULA: “GOTSIRIDZE: ITALIAN BANK ACCEPTS CHEESE AS PLEDGE, WHILE WE FORBID TO PAWN APARTMENTS”

    May 10, 2018 - On his Facebook page, MP from opposition United National Movement, former president of National Bank of Georgia Roman Gotsiridze notes that “one of the Italian banks accepts cheese parmesan as pledge”. At that, in Georgia, “hundreds of thousands of people are restricted in accessing banks, microfinancial organizations, pawnshops and are pushed to the black market”, he specifies.


    REZONANSI: “PAWNING OF CARS AND REAL ESTATE WILL BE FORBIDDEN SINCE JUNE”

    May 8, 2018 - Since June, citizens will not be allowed to pawn own cars and real estate any more, the newspaper reports.

    According to the Finance Minister Mamuka Bakhtadze, “so-called pledging of cars, as well as of real estate, in pawnshops should be forbidden”.


construction

    BANKEBI DA FINANSEBI: “IN THE FIRST QUARTER OF THE CURRENT YEAR, 542 CONSTRUCTIONS WERE COMPLETED THROUGHOUT GEORGIA”

    May 10, 2018 - Referring to data of Sakstat, the newspaper reports that 542 constructions were completed throughout Georgia in the 1st quarter. With 166 completed constructions, Tbilisi is in the lead.


    REZONANSI: “TENS OF MILLIONS WILL BE SPENT AGAIN FOR UGLY STRUCTURE IN RIKE”

    May 7, 2018 - Music and Drama Theater in Rike Park, so-called “jugs”, which construction was started in 2011 and about 75 million lari were spent, does not function still, the newspaper states.

    Now, City Hall of Tbilisi decided to finish the project, however it is unknown still, what sum will be spent for that end, the article notes.


tourism

    FORBES GEORGIA: “IN GEORGIA, OPENING OF 9 CASINOS IS PLANNED IN NEXT YEARS”

    May 7, 2018 - Referring to Galt&Taggart investment company, the magazine reports that 10 casinos operate in Batumi for now, and opening of 5 more is planned for next years. One more casino will be opened in Ajara resort Goderdzi.


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