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Economic Press Monitor

April 9 - 15, 2017

Previous Issues:  Days: < 01 08 15 22 29 > 

 

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economic & politics

    BANKEBI DA FINANSEBI: “THE GOVERNMENT TO SET PREFERENCES FOR INSOLVENT CITIZENS”

    April 10, 2017 - Ministry of Economy and Sustainable Development is drafting the bill, which will be used by insolvent private individuals.

    “Totally new draft on insolvency is being worked out”, Deputy Minister Irma Kavtaradze states.


    TABULA: “BOKERIA ON “GAZPROM”: YOU EITHER FAILED TO PROTECT THE COUNTRY’S INTERESTS, OR CORRUPTIVELY CONCEDED IT”

    April 10, 2017 - Member of European Georgia – Movement for Freedom Giga Bokeria points that contract with Gazprom, “which Georgia had until now, was profitable for the country”.

    “Russia demands to change it in favor of own interest already for years and Georgia was always capable to maintain the terms unchanged, even in the hardest years”, Bokeria declared at the Parliament meeting.


    KVIRIS PALITRA: “AMBASSADOR OF TURKEY: “WE DO NOT WANT EVEN ONE INCH OF GEORGIAN LAND, INCLUDING AJARA AND BATUMI!””

    April 10, 2017 - Ambassador of Turkey to Georgia Zeki Levent Gumrukcu stated that “Turkey does not have any territorial claim toward Georgia’s lands”. “We do not want even one inch of Georgian land, including Ajara and Batumi”, he pointed.


macroeconomics & budget

    NETGAZETI.GE: “IN WHICH THEATERS OF TBILISI AND WHY ACTORS’ SALARIES WERE REDUCED”

    April 13, 2017 - By decision of the government, funding of all legal entities of public law (LEPL) was reduced by 10% from this year. Among these LEPLs are state theatres, where the mentioned change of funding was reflected mainly in payroll reduction, the newspaper says.


    TABULA: “DAVID NARMANIA REPORTED TO THE CITY COUNCIL FOR 2016 BEHIND CONFRONTATIONS”

    April 12, 2017 - Tbilisi Mayor David Narmania has presented report for 2016 to the City Council on the back of “verbal confrontations”, Tabula reports. Members of the opposition asked very tough questions, the magazine points.


    TABULA: “SERGEENKO: 600 THOUSAND PENSIONERS WILL RECEIVE DRUGS FOR SYMBOLIC PRICE – 1 LARI”

    April 11, 2017 - Ministry of Labor, Healthcare and Social Protection plans to announce international tender on drugs procurement for pensioners and socially vulnerable people, Tabula reports.

    The Minister David Sergeenko said that the matter concerns 30 names of drugs, while the program budget “will be about 5 million lari at starting stage”.


    REZONANSI: “MIDDLE CLASS IS DISAPPEARING, 15% OF THEM HAVE ALREADY SHIFTED TO POOR”

    April 11, 2017 - Statistician Soso Archvadze notes that number of poor people, according to official data, makes up about 22% of total population, while beneficiaries of state allowance do not exceed 10-15%.

    “Thus, the rest of the population, about 60%, could be considered statistically as middle class, but this is through poor mathematic calculations, which is too far from the reality”, Archvadze said.


    REZONANSI: “LARI IS EXPECTED TO STRENGTHEN BEFORE EASTER”

    April 11, 2017 - Banking expert Gocha Tutberidze expects that lari will strengthen within the next few days until Easter.

    However, Tutberidze warns that “We should not feel a big optimism toward lari”.


    FORBES GEORGIA: “WHICH AFRICAN COUNTRIES ARE RICHER THAN GEORGIA”

    April 10, 2017 - Referring to IMF, the magazine reports that Georgia’s average annual income per capita, calculated according to purchasing power parity (PPP), made up $10,100 in 2016. According to this showing, Georgia lags behind 11 African countries, the article states.


conflict and court

    NETGAZETI.GE: “INVESTIGATIVE SERVICE: ENTREPRENEURS SUPPLIED KINDERGARTENS WITH CHEAP SPREAD INSTEAD OF NATURAL BUTTER”

    April 13, 2017 - Finance Ministry’s Investigative Service declared that two individual entrepreneurs in Tsalenjikha municipality (Samegrelo region) were accused of making and using false tax documents and fraud.

    Entrepreneurs, who won respective tender, undertook supply of high-quality butter to kindergartens; however, instead of this, they supplied spread, made from cheap vegetable fats, the Service said.


companies

    REZONANSI: “36 HOURS WITHOUT WATER!”

    April 12, 2017 - Water supply is regularly interrupted in various districts of Tbilisi, the newspaper reports. Most recent case was fixed at Queen Tamar Avenue, where citizens did not have drinking water during April 8-9.


transport & communications

    NETGAZETI.GE: ““MAGTI” AND “GEOCELL” TO PROVIDE TELEPHONE SERVICE TO PUBLIC AGENCIES”

    April 12, 2017 - MagtiCom and Geocell won the repeated tender, announced on provision of cell telephone service for public institutions, the newspaper reports.

    The matter concerns provision of 260,000 employees of public institutions with cell communication until January 31, 2018.


finances & banking

    BANKEBI DA FINANSEBI: “LARIZATION POLICY FACILITATED INTEREST RATES GROWTH”

    April 12, 2017 - According to National Bank of Georgia’s data for February, interest rates on loans, issued in national currency, have increased by 2.8% and made up 20.9% on average. At that, corporate loans are available under 11.9%, while retail ones – 24%.


agriculture & food

    TABULA: “THE GOVERNMENT INITIATES MANDATORY SEED CERTIFICATION”

    April 13, 2017 - The government submitted draft bill to the Parliament, which envisages mandatory certification of agricultural seeds. Selling of non-certified seeds will be subjected to fine in amount of up to 1,000 lari.


construction

    BANKEBI DA FINANSEBI: ““DRAFT OF GENERAL PLAN OF LAND USAGE IS DIVORCED FROM ECONOMIC REALITY OF THE CAPITAL” – YFBA”

    April 13, 2017 - Young Financers and Businessmen Association (YFBA) estimates that general plan of land usage in Tbilisi at this stage of drafting is divorced from economic reality of the capital.

    The Association has studied 3 quarterly reports on drafting of the plan, presented in 2015-2016 by non-commercial legal entity City Institute Georgia.


tourism

    TABULA: “GEORGIA RANKS THE 70TH AMONG 136 COUNTRIES IN TERMS OF TOURISM COMPETITIVENESS”

    April 12, 2017 - The magazine reports that Georgia has improved its position by 1 ranking in the Tourism Competitiveness Index 2017 of World Economic Forum. Consequently, the country ranks the 70th among 136 countries now.


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