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Economic Press Monitor

December 8 - 14, 2019

Previous Issues:  Days: < 30 07 14 21 28 > 

 

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economic & politics

    REZONANSI: “INVESTORS DO NOT WANT EVEN TO LOOK TOWARDS REGIONS OF GEORGIA”

    December 13, 2019 - Foreign direct investments (FDI) in Georgia amounted in the 3rd quarter to $417 million, 77% of which accounted for Tbilisi ($276.5 million) and Ajara ($52.5 million), the newspaper reports. In 2018, Tbilisi and Ajara accounted for combined 88%.


    REZONANSI: “WHAT CAN BECOME ALTERNATIVE FOR ANAKLIA – WHETHER THE STATE WILL TERMINATE AGREEMENT WITH “ANAKLIA DEVELOPMENT CONSORTIUM””

    December 12, 2019 - Deadline for fulfillment by Anaklia Development Consortium (led by Georgian TBC) of obligations on attraction of investments of $400 million and filling of own capital expires on December 31, the newspaper reminds.

    Georgia’s Minister of Regional Development and Infrastructure Maya Tskitishvili declares that this should be the last chance for Consortium and postponement of deadline cannot continue infinitely.


    BANKEBI DA FINANSEBI: “COMPETITION AGENCY CONTINUES MONITORING OF BREAD MARKET”

    December 11, 2019 - Competition agency continues monitoring of bread market in Georgia, the newspaper reports. The Agency started study of reasons of bread price growth as far back as December 2018.


    REZONANSI: “THE STATE PLANS “TO CONSTRAIN” PRICES OF MEDICINES”

    December 11, 2019 - At this stage, it is premature to talk about control of medicines’ price in Georgia, however high-ranks in the Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection declare that this issue will be surely considered, the newspaper points.

    According to the Deputy Minister Tamar Gabunia, “we will begin work on the initiative next year”.


    TABULA: “MEP: IVANISHVILI IS AN OLIGARCH, HE RULES THE COUNTRY OPAQUELY, FROM THE LOBBY”

    December 10, 2019 - Member of the European Parliament Viola von Cramon estimates that Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream and ex-premier of Georgia) is an oligarch, who “occasionally runs the party too”. Ivanishvili is “the person, who has very big influence because of money”, she specifies.


    NETGAZETI.GE: “WE HAVE TO MANAGE DURING 7-10 YEARS TO HAVE 70-80% OF CARS IN THE COUNTRY WITH ELECTRIC ENGINES – IVANISHVILI”

    December 10, 2019 - Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream and ex-premier of Georgia, indicated that “we have to manage during 7-10 years to have 70-80% of the cars, existing in the country, to be powered with electric engines”. He said the mentioned in an interview to online publication Veluribuneba.Ge.


    NETGAZETI.GE: “MANY “FLAG-WAVERS” STRUGGLE AGAINST CONSTRUCTION OF HYDROELECTRIC STATIONS – IVANISHVILI”

    December 10, 2019 - Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream and ex-premier of Georgia, declares that “unfortunately, many “flag-wavers” oppose today construction of all kind, fighting with extra efforts against development of hydroelectric stations”. He said this in an interview to online publication Veluribuneba.Ge.


    FORBES GEORGIA: “UNIVERSAL HEALTHCARE PROGRAM – THE “PATIENT” IS IN THE INTENSIVE CARE WARD”

    December 9, 2019 - The program of universal healthcare, being publicly perceived until now as the only achievement of ruling Georgian Dream, actually is the patient in critical state, who is placed in the intensive care ward, the article states.

    The author of the article (the ex-Minister of Health Zurab Chiaberashvili, nowadays the deputy from oppositional European Georgia) points that starting from 2014, all researches indicated two main shortcomings of this program: financing of the program benefited rather wealthier citizens, than the poor, and state control of the program expenditure had almost no effect.


    TABULA: “TIKARADZE: IT IS UNACCEPTABLE TO CONSIDER HEALTHCARE AS BUSINESS, MOREOVER AS PROFITABLE ONE”

    December 9, 2019 - Ekaterina Tikaradze, Georgia’s Minister of IDPs from Occupied Territories, Labor, Healthcare andSocial Protection, commented on air of TV company Imedi on changes, planned in healthcare system of the country.

    As Tabula reports, Tikaradze declared that “It is unacceptable for me to consider healthcare as business, moreover as profitable business”.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “ON WHOM RESPONSIBILITY FOR INCREASED COST OF LIVING IS REST”

    December 13, 2019 - Inflation in Georgia reached 7%, and biggest price growth is observed in essentials, the article points. Author of the article (Paata Bayrakhtari, vice-president of Georgian Young Financiers and Businessmen Association) reviews the reasons of inflation, which exceeds 2.3 times its target indicator (3%), and who bears responsibility for it.


    REZONANSI: “NOTHING WILL DECREASE IN PRICE IN NEAR FUTURE, IMPORTERS DEMAND THE MARK OF 2.70”

    December 13, 2019 - Strengthening of lari during the last 3 days (official exchange rate, set for December 13, makes up 2.86 GEL/USD) caused hope that production, risen in price, will start to cheapen, the newspaper says.

    However, despite positive tendencies of the last days, a part of importers does not see the prospect of price decrease in the short-term period, the article indicates.


    FORBES GEORGIA: “THE STATE BUDGET AT THE SERVICE OF PARLIAMENTARY ELECTIONS”

    December 12, 2019 - Georgia’s state budget-2020 is loaded with politically motivated decisions, the magazine says. Priorities of the budget are growth of pensions and increase of salaries for occupied in public sector.


    FORBES GEORGIA: “EXCISE AND EXCISE POLICY IN GEORGIA”

    December 11, 2019 - Georgia is among those rare countries of the world, in which budget receipts nearly 10% occupies tobacco excise, says author of the article (Zviad Skhvitaridze, corporate director of British-American Tobacco). Respectively, tobacco excise plays special role in a number of the directions, he notes.


    BANKEBI DA FINANSEBI: “IVANE MACHAVARIANI – FISCAL STABILITY IS OUR MAJOR PRIORITY”

    December 10, 2019 - Georgia’s Finance Minister Ivane Machavariani indicated that major priority of the government is fiscal stability. He declared this, while reporting on activity of the Ministry in this year.


    NETGAZETI.GE: “REHABILITATION OF PIROSMANI POSTPONED, BUT GRAFFITI APPEARED ON THE STREET INSTEAD”

    December 9, 2019 - Tbilisi City Hall declares that rehabilitation of Pirosmani Street will not start this year, Netgazeti.Ge reports and reminds that the planned rehabilitation project had budget of 50 million lari. Works had to be completed in 2020.


energy, oil & gas

    BANKEBI DA FINANSEBI: “GEORGIA COULD BECOME OIL-PRODUCTS’ EXPORTER COUNTRY”

    December 13, 2019 - After launch of oil refinery in Kulevi on Black Sea coast, Georgia could turn from oil-products’ importer country into exporter one, the newspaper says. Construction of the plant is planned to start in 2021, and to finish in 3 years.


    FORBES GEORGIA: “RISK OF GROWTH OF GEORGIA’S ENERGY DEPENDENCE ON RUSSIA”

    December 12, 2019 - In 2013-2018, electricity supply in Georgia increased by 3.8% on average that lags behind the average growth of consumption – 5.4%, the magazine reports. The article indicates that filling of the gap is held by means of import or gas-powered heatstations’ generation.


finances & banking

    BANKEBI DA FINANSEBI: “FOR FINANCING OF “GREEN ECONOMY”, “PROCREDIT BANK” WILL RECEIVE 25M EUR FROM EBRD”

    December 12, 2019 - ProCredit Bank Georgia will receive 25 million EUR from EBRD, the newspaper reports. As the article specifies, financing will be issued in two tranches, the first of which amounts to 15 million EUR.


agriculture & food

    BANKEBI DA FINANSEBI: “REDUCED PRODUCTION OF LIQUID MILK – HAZARD-CONTAINING CHEES AND DAIRY PRODUCTS ON GEORGIAN COUNTERS”

    December 11, 2019 - Referring to the latest data, the newspaper reports that both cattle population and milk production decreased in Georgia, by respective 2.1% and for 4.8%.

    Such statistical trend aggravates suspicions that dairy products, offered on Georgian counters, are made of powder, the article points.


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