Economic Press Monitor January 8 - 14, 2023	Days:  24 31 14 21 28

economic & politics

TABULA: “JAPAN’S PASSPORT IS NAMED THE STRONGEST PASSPORT OF 2023, GEORGIA IS ON THE 50^TH PLACE”

January 12, 2023 - In its report for 2023, the British consulting company Henley&Partners places Georgia on the 50^th place in terms of passport strength. Georgian citizens do not need visa to visit 116 countries.




REZONANSI: “BY “TECHNICAL CRITERIA”, GEORGIA OUTPACES UKRAINE AND MOLDOVA – WHAT REPORT THE EUROPEAN COMMISSION IS PREPARING AND HOW IT WILL AFFECT GEORGIA’S PROSPECTS”

January 11, 2023 - In January, the European Commission will publish a report, describing prospects and forecasts of Georgia, Ukraine and Moldova’s movement towards the EU.

Rikard Jozwiak, Europe editor at Radio Liberty, expects that Georgia will have the best assessment.




FORBES GEORGIA: “EXPANSION OF INVESTMENT AGENCY’S MANDATE: MEANING, EXPEDIENCY AND RISKS”

January 10, 2023 - The magazine publishes opinion regarding possible expansion of the investment mandate of Georgian Pension Agency. Author of the opinion is Levan Surguladze, the first and now already former director of the Pension Agency.




TABULA: “INCREASE OF CAR LICENSE PLATE’S PRICE AND FINE FOR CARRYING WEAPONS, APARTMENTS FOR IDPS – CHANGES IN 2023”

January 9, 2023 - From 2023, the cost of several services of the Service Agency of Georgian Interior Ministry is increasing, including price for issuing a license plate of a car. As a result, vehicle registration certificate will cost 100 lari instead of 35 lari.




FORBES GEORGIA: “GEORGIA RANKS 7^TH IN THE WORLD IN TERMS OF FREEDOM ON THE NET”

January 9, 2023 - Report “Freedom on the Net 2022”, published by Freedom House, places Georgia the 7^th among 70 countries with 78 points (out of a maximum of 100). In the 2021 ranking, Georgia was on the 9^th position with 77 points.

macroeconomics & budget

TABULA: “NEXT POPULATION CENSUS WILL BE HELD IN NOVEMBER-DECEMBER 2024 – “SAKSTAT””

January 12, 2023 - Gogita Todradze, executive director of Sakstat, declared that next population census in Georgia will be held in 2024, between November 14 and December 19.

In 2023, the budget of Georgian statistics service is increased from 13 million lari to 21 million lari, taking into account that “the census preparation works are entering the active phase”, Todradze said.




BANKEBI DA FINANSEBI: “WHETHER INTRODUCTION OF “TOURIST TAX” IS PLANNED IN GEORGIA AND WHAT IS GLOBAL PRACTICE OF IT”

January 12, 2023 - In 2021, Business Association of Georgia put forward an initiative on introduction of a tourist tax, though the initiative had a nature of idea only.

While discussing the capital’s budget for 2023, Tbilisi Mayor Kakha Kaladze declared: “The introduction of a tourist tax could damage our image”.




NETGAZETI.GE: “IN 2022, GEORGIA’S ECONOMY GREW MORE THAN EXPECTED – THE WORLD BANK”

January 12, 2023 - In its “Global Economic Prospects” report, the World Bank (WB) says that in Georgia, recovery of local demand after the COVID-19 pandemic, along with the resumption of tourism and the growth of remittances from Russia, significantly contributed to economic growth.

The WB expects that in 2022, Georgia’s economy grew by 10%, while will grow by 4% in 2023.




REZONANSI: “NEW STAGE OF STRENGTHENING OF LARI BEGINS – THE TREND WILL LAST UNTIL END OF FEBRUARY”

January 11, 2023 - Analyst Nika Shengelia considers that until end of February, lari will be within the range of 2.65-2.7 GEL/USD. Key factor in strengthening of lari is high currency inflows into the country, he points.




BANKEBI DA FINANSEBI: “BY WHAT PRINCIPLE ELECTRICITY WILL BE SUBSIDIZED FOR SOCIALLY UNPROTECTED”

January 10, 2023 - Georgia’s Finance Minister Lasha Khutsishvili declared that the state budget-2023 allocates 12 million lari for subsidizing of electricity for socially vulnerable citizens. There will be 2 categories of recipients, depending on score points, assigned to socially unprotected families.




REZONANSI: “GLOBAL ECONOMIC RECESSION IS INEVITABLE, WHAT AWAITS GEORGIA?”

January 9, 2023 - Nika Shengelia, vice president of the International Researches and Forecasting Center, points that many countries are experiencing a recession, but “this may not affect Georgia”.

“It depends on what the situation will be between Russia and Ukraine”, Shengelia specifies.




REZONANSI: “KEY PROBLEM OF 2022 APPEARED PRICE GROWTH”

January 9, 2023 - In 2022, inflation was an important problem in Georgia. Double-digit inflation was recorded in the country after July 2021, while the annual rate in November 2022 made up 10.4%.

energy, oil & gas

BANKEBI DA FINANSEBI: “IN 2022, ARMENIA SUPPLIED MORE ELECTRICITY TO GEORGIA THAN IN THE PAST 9 YEARS”

January 13, 2023 - “In 2022, Armenia supplied more electricity to Georgia than in the past 10 years”, said Hakob Vardanyan, Deputy Minister of Territorial Administration and Infrastructure of Armenia (although the article title indicates 9 years).

Vardanyan said that “this is mainly due to liberalization of the market, which was launched last year”.




BANKEBI DA FINANSEBI: “IRAKLI LEKVINADZE – DECLINE IN FUEL PRICES WILL CONTINUE”

January 13, 2023 - Irakli Lekvinadze, head of Georgian National Competition Agency, declared that in February, the Agency will make a final or interim decision on possible unfair behavior or collusion on the local market of automotive fuel. Investigation on the subject was launched in August 2022.

companies

FORBES GEORGIA: ““RUSTAVIS AZOTI” SOLD”

January 13, 2023 - E U Investment, single owner of JSC Rustavis Azoti (Rustavi Nitrogen, production of mineral fertilizers and industrial chemicals), has sold its whole stake.

The buyer is Georgian subsidiary of the Singapore-based multinational corporation Indorama Corporation.




BANKEBI DA FINANSEBI: “NATIONAL BANK FINED “TERABANK””

January 11, 2023 - National Bank of Georgia (NBG) fined Terabank with 41,000 lari for several cases of violation of legislation and established rules.

In particular, NBG reported that 4 cases of incorrect submission of information/documentation, requested during checking of the bank, were recorded.




FORBES GEORGIA: “100% STAKE IN “GEORGIAN RAILWAY” IS PASSED TO THE GOVERNMENT”

January 11, 2023 - 100% stake in Georgian Railway has been passed to the Georgian government, the London Stock Exchange said in the statement to investors. The transaction was probably completed in December 2022.




BATUMELEBI: ““DREAMLAND OASIS” ACQUIRED 5 HA OF LAND ON BATUMI COAST”

January 10, 2023 - LLC Dreamland Oasis acquired land plot of 5 ha on Batumi coast, near the Botanical Garden. The matter concerns territory of the former tourist center in Chakvi, which was sold on auction at one bid, for 16.32 million lari.

tourism

BATUMELEBI: “1M LARI FOR AJARA PROMOTION – A LIST OF TOURIST EXHIBITIONS”

January 10, 2023 - Tourism and Resorts Department of Ajara allocates 1.05 million lari for participation in tourist exhibitions and other events in 2023. In particular, participation in exhibitions in France, Germany, Great Britain, Italy, Spain, the UAE and other countries is planned.