Economic Press Monitor April 9 - 15, 2023	Days:  01 08 15 22 29

economic & politics

TABULA: “KEZERASHVILI ABOUT “BBC”: I DO NOT AND NEVER HAD HAVE CONNECTION WITH THE ISSUE OF SO-CALLED CALL CENTERS”

April 13, 2023 - The founder of the TV company Formula David Kezerashvili (defense minister in the government of the National Movement) denies any connection with the issue of the so-called call centers, described in the materials of the journalistic investigation published by BBC (the matter concerns an international fraudulent network that appropriated investors’ funds).

“I have never participated in such schemes, so I do not intend to leave without attention the damage that this material causes me”, Kezerashvili said.




REZONANSI: “HOW WILL US SANCTIONS AFFECT EU CANDIDACY AND WHAT LONG-TERM POLITICAL CHANGES SHOULD WE EXPECT”

April 10, 2023 - On April 5, the US State Department imposed sanctions on 3 acting and 1 former judge of Georgia (Mikheil Chinchaladze, Levan Murusidze, Irakli Shengelia and Valerian Tsertsvadze).

The article brings comments of analysts Vakhtang Dzabiradze and Zaal Anjaparidze and the leader of oppositional Girchi party Zurab Japaridze on how the US sanctions will affect assignment of the status of EU membership candidate to Georgia.

macroeconomics & budget

BANKEBI DA FINANSEBI: “FINANCE MINISTRY – ACCORDING TO THE LONG-TERM FORECAST OF INTERNATIONAL MONETARY FUND, GEORGIA HAS SHOWN THE BEST RESULTS AMONG 193 COUNTRIES OF THE WORLD”

April 13, 2023 - Georgian Finance Ministry reported that according to IMF forecast for 2022-2028, Georgia is the 2^nd in the world in terms of the growth rate of real GDP per capita. During this period, Georgia’s real GDP per capita increases by 51%.




NETGAZETI.GE: “REHABILITATION OF TSERETELI: THE COMPANY HAS 6 MONTHS TO REPAIR “DIDUBE BRIDGE””

April 12, 2023 - Rehabilitation to begin on Tsereteli Avenue, one of the largest avenues in Tbilisi, and the 152-m Didube Bridge. As Tbilisi City Hall noted, rehabilitation of the bridge, built in 1953, is being carried out for the first time.




FORBES GEORGIA: “GEORGIA RANKS 59^TH IN THE WORLD IN TERMS OF DEPENDENCE ON EXPORT”

April 12, 2023 - The World Bank reported that in 2021, Georgia ranked 59^th among 166 countries in terms of dependence on export of goods and services.

In 2021, Georgia’s export of goods and services amounted to $8.1 billion, making up 43.2% of Georgia’s GDP.

energy, oil & gas

FORBES GEORGIA: “RENEWABLE ENERGY FOR ALL CONSUMERS”

April 11, 2023 - Nugzar Beridze, director of the Energy Training Center, indicates that Georgia, as a member of the European Energy Union, is obliged to join the 4^th Energy Package after December 31 and implement it in national legislation. This gives an opportunity to improve and develop the net accounting, introduced in Georgia, he says.




REZONANSI: “ALREADY ENTIRE EUROPE HAS GREAT EXPECTATION FOR THE BLACK SEA ELECTRIC CABLE”

April 10, 2023 - The EU ambassador to Georgia Pavel Herczynski says that the EU supports the project of the Black Sea underwater electric cable (will connect Georgia and Romania) and participates in it as an observer.

The matter concerns huge investments, which, we hope, will significantly change the generation of electricity and also the transmission of electricity between the South Caucasus and the EU, the ambassador points.

conflict and court

TABULA: “LAWYER: FROM MARCH 2023 TO PRESENT, BIDZINA IVANISHVILI CANNOT MANAGE TO ACCESS HIS ASSETS”

April 12, 2023 - Lasha Kalandadze, lawyer of Bidzina Ivanishvili, billionaire founder of the ruling Georgian Dream, released a statement about his client’s lawsuit with Credit Suisse.

The statement indicates that Ivanishvili transferred part of his funds from Credit Suisse to other Swiss banks, which remained in management of Guernsey-based trust of Credit Suisse.

companies

FORBES GEORGIA: “IN PARTNERSHIP WITH “SAKARTVELOS BANKI”, A NEW CONSTRUCTION MATERIALS ENTERPRISE OPENED IN RUSTAVI”

April 13, 2023 - Palati-2022, manufacturer of construction materials, has opened a new enterprise in Rustavi, on an area of 3,800 square m. The project cost makes up 14 million lari, of which Sakartvelos Banki (Bank of Georgia) allocated over 10 million lari.




FORBES GEORGIA: “TIPS FOR INVESTING IN BATUMI’S REAL ESTATE MARKET”

April 11, 2023 - Company Elt Building has invested in Batumi already $70 million. The company’s commercial director Valeri Gurgenadze reported that 500 new hotel-type apartments are planned to put in operation by the end of 2023.




BATUMELEBI: “COMPANY OF “RUSTAVI-2” DIRECTOR EXPANDS MARINE OIL TERMINAL IN BATUMI”

April 10, 2023 - The sea oil terminal, located on Baku Street in Batumi, is planned to expand, the article reports.

Today, there are 4 vertical tanks with total capacity of 9,000 cubic m.

ecology & health

NETGAZETI.GE: “HEALTHCARE MINISTRY PRESENTED CONCEPT OF THE REPUBLICAN HOSPITAL”

April 11, 2023 - On April 10, Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection presented the concept of the Republican Hospital.

The Ministry said that building of the Tbilisi clinic, built in 1970s, does not meet standards of a modern multidisciplinary medical institution.

agriculture & food

BANKEBI DA FINANSEBI: “BREAD DECREASED IN PRICE BY TEN TETRI”

April 13, 2023 - Georgian Bread Producers Association declared that bread has decreased in price by 10 tetri in retail facilities.

Since last year, a sack of flour has decreased in price by about 15 lari and costs about 52-55 lari now.

construction

REZONANSI: “REAL ESTATE PRICE HAS STABILIZED, THERE WILL START EVEN PRICE REDUCTION IN THE SECOND HALF OF THE YEAR”

April 12, 2023 - Irakli Rostomashvili, head of Georgian development company Arci, says that demand on the real estate market has stabilized at last. This situation will continue for some time, he notes.