Economic Press Monitor April 7 - 13, 2019	Days:  30 06 13 20 27

economic & politics

BANKEBI DA FINANSEBI: “MATE GABITSINASHVILI – WE HAVE WRONG ECONOMIC THEORY OF DEVELOPMENT”

April 12, 2019 - “We have wrong economic theory of development”, analyst of Public Broadcaster Mate Gabitsinashvili declares.

Gabitsinashvili posted on social network that “we implement various international recommendations”, “in the direction of trade liberalization, we do more than is [offered by] recommendations”, “our financial system is more deregulated, than in the countries of the region, but nevertheless there are monopolies”.




TABULA: “KALADZE ABOUT PROTEST OF TAXI DRIVERS: I ALREADY THINK THAT THESE ARE DEMANDS OF “LABOR PARTY””

April 12, 2019 - Tbilisi taxi drivers oppose requirements of repainting of a taxi car in white color, passing checkup twice a year and prohibition on a right wheel taxi, declaring that fulfillment of new regulation costs much to them, Tabula reports. The article brings comment of Tbilisi Mayor Kakha Kaladze on the subject too.




BANKEBI DA FINANSEBI: “SOSO PKHAKADZE APPOINTED TO THE POST OF BUSINESS ASSOCIATION PRESIDENT”

April 10, 2019 - Giorgi Chirakadze is leaving post of Georgian Business Association’s president, the newspaper reports. He will be substituted by Soso Pkhakadze, the Association vice-president since 2009 (when the organization was founded), while since 2011 – the first vice-president.




FORBES GEORGIA: “GEORGIAN BUSINESSMEN IN THE RATING OF RUSSIA’S RICHEST PEOPLE”

April 10, 2019 - Among 200 richest people of Russia, there are three Georgian surnames, the magazine reports. The matter concerns Alexander Japaridze, David Yakobashvili and Vyacheslav Mirilashvili.




FORBES GEORGIA: “BIDZINA IVANISHVILI’S PROPERTY BY YEARS”

April 10, 2019 - In today’s Georgia, “practically behind all topical issues, one can see a shadow of former premier and richest man Bidzina Ivanishvili” (billionaire leader of ruling Georgian Dream), the magazine says.

The article reports that in the rating of the world’s richest people, Ivanishvili occupies the 365^th place.




FORBES GEORGIA: “MULTI-ACT PLAY ABOUT “TBC BANK”, WHICH END IS NOT VISIBLE YET!”

April 8, 2019 - The magazine publishes opinion of Roman Gotsiridze, the former president of National Bank of Georgia and currently MP from the opposition National Movement, in connection with situation around Georgia’s largest TBC Bank.

“The fact that case of TBC Bank is motivated by political and private interests is proved by history of “recalls” (“reveals”) of possible violations and repressive steps, undertaken by law enforcement agencies, Financial Monitoring Service and National Bank”, Gotsiridze states.




KVIRIS PALITRA: “WHO LOBBIES THE GAMING IN THE PARLIAMENT?”

April 8, 2019 - Georgian Parliament did not pass the draft bill, which envisaged prohibition of advertising of hazardous and advantageous games, the newspaper reports.

As the article indicates, there are about 500,000 persons in Georgia, who became gambling-addicted, majority of whom are minors and young people.

macroeconomics & budget

FORBES GEORGIA: “IMF: IN TERMS OF GROWTH RATE OF TAXES MOBILIZATION, GEORGIA AND RWANDA ARE THE BEST EXAMPLES IN THE WORLD”

April 12, 2019 - Referring to the IMF, the magazine reports that Georgia and Rwanda made the biggest progress since 1996 in corruption control index. Until 2003, Georgia was one of the most corrupted countries in the world, the IMF notes.




FORBES GEORGIA: “IN TERMS OF INCOME PER CAPITA, GEORGIA IS ON THE 106^TH PLACE IN THE WORLD”

April 12, 2019 - In 2018, average income per capita in Georgia, taking into account purchasing power parity (PPP), made up $11,485.

By this indicator, Georgia is on the 106^th place among 191 countries, the magazine reports with reference to the IMF.




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

April 8, 2019 - The World Bank (WB) decreased the forecast of Georgia’s economic growth from 5% to 4.6%, the magazine reports.

As the main reason of the forecast decrease, the WB named weakened external demand and enacted by National Bank of Georgia regulation of crediting (restriction of retail crediting).

energy, oil & gas

REZONANSI: “ELECTRICITY DEFICIT TO REACH 30% – WHAT EXPECTS THE CONSUMER”

April 11, 2019 - Referring to Georgia’s balance of electric power for 2018, the newspaper reports that the country had deficit of electricity of 13%. The article notes that about the same situation was in 2017 too.




NETGAZETI.GE: “IT IS THE LIE THAT REPRESENTATIVES OF “KAZTRANSGAS” ALLEGEDLY APPEARED ON THE SPOT OF EXPLOSION BEFORE IGNITION – THE COMPANY”

April 8, 2019 - On April 7, leak of natural gas has caused explosion and destructions in residential building in Tbilisi district Digomi, Netgazeti.Ge reports.

Tbilisi gas distributor company KazTransGas-Tbilisi supposed that explosion in residential building was caused by gross violation of service regulations.

conflict and court

TABULA: “CASE OF “CENTER POINT”: MAYA RCHEULISHVILI IS SENTENCED TO 7 YEARS ON SO-CALLED MIONI EPISODE”

April 11, 2019 - On so-called “Mioni episode” of case of developer company Center Point, the company’s owner Maya Rcheulishvili is sentenced to 7 years of imprisonment, Tabula reports.

The article specifies that the matter concerns deceptive misappropriation of large funds, intended for construction of Dighomi District Apartment facility in Tbilisi.

finances & banking

FORBES GEORGIA: ““TBC” ACQUIRES CONTROLLING SHARE OF UZBEK “PAYME” FOR $5.5M”

April 11, 2019 - TBC Bank got consent to acquisition of Uzbek payment service provider Payme, the magazine reports. Payme serves 1.3 million clients.

agriculture & food

TABULA: “VIOLATION OF SANITARY AND HYGIENIC NORMS – PRODUCTION PROCESS IS SUSPENDED TO KINDERGARTENS’ SUPPLIER”

April 11, 2019 - Referring to Georgian National Food Agency, Tabula reports that in Ozurgeti (Guria region), production process is suspended in company Sofo, which supplies kindergartens with food.

The Agency held unscheduled inspection in the company.




BANKEBI DA FINANSEBI: “RAISE OF QUALITY IS IMPORTANT FOR GEORGIAN AGRICULTURE”

April 10, 2019 - Raise of quality, introduction of standards and delivery of more production to the EU market are important for development of Georgian agriculture, the EU ambassador Carl Hartsell declared to journalists.

The ambassador noted that European Commissioner for Agriculture and Rural Development paid visit to Georgia some time ago and his visit’s agenda included consideration of these very issues.