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economic & politics
TABULA: “TURNAVA ON BEAUTY SHOPS: THERE WILL BE ELECTRONIC QUEUE AND SOCIAL DISTANCE”
May 15, 2020 - Since May 18, beauty shops and esthetics centers will re-open in Georgia. Besides, restriction on meeting of more than 3 people will be lifted too, though it does not concern passengers of cars, Tabula reports.
NETGAZETI.GE: “EU ASSISTANCE IS CONNECTED WITH FULFILLMENT BY GEORGIA OF UNDERTAKEN OBLIGATIONS”
May 14, 2020 - MEP Andrius Kubilius published the statement in connection with Georgia, Netgazeti.Ge reports. “We have to work all together in an atmosphere of trust to protect democracy”, Kubilius notes.
FORBES GEORGIA: “DAVID IAKOBASHVILI ON BUSINESS ACTIVITY AND PLANS IN GEORGIA”
May 13, 2020 - Georgian multimillionaire David Iakobashvili, operating abroad, says that business in Georgia is interesting to him, the magazine reports. In an interview to the magazine, the businessman notes that he visits Georgia 3-4 times a year.
TABULA: “FOR FIGHT AGAINST COVID-19, THE US ALLOCATED ADDITIONAL $3M TO GEORGIA”
May 11, 2020 - Kelly Degnan, the US ambassador of in Georgia, declared that the US Centers for Disease Control and Prevention (CDC) has allocated additional $3 million to Georgia for fight against COVID-19. These funds “will enhance partnership between the American CDC and Georgia, which counts over 10 years”, the ambassador pointed.
macroeconomics & budget
TABULA: “SINCE INTRODUCTION OF STATE OF EMERGENCY TILL TODAY, 7,353 CITIZENS WERE FINED IN TOTAL FOR 22M LARI”
May 14, 2020 - From March 27 up today, law enforcement authorities fined 7,353 citizens for violation of curfew and other restrictions, envisaged by state of emergency in Georgia, Tabula reports. As the article specifies, the sum of the imposed penalties exceeds 22 million lari.
BANKEBI DA FINANSEBI: “TSEZAR CHOCHELI: NATIONAL BANK PUT BUSINESS BETWEEN TWO FIRES”
May 14, 2020 - Tsezar Chocheli, head of company Kartuli Ludi (Georgian Beer), declares that devaluation of lari and its awkward fluctuations destroy business in general, and production especially. “When we draw plan on 2.75-2.80 [GEL/USD], and then we have to gain income from production at 3.2 [GEL/USD], so that we did not raise the prices of our production, it turns out that we lose 10-12%, at least, because of an interexchange difference”, Chocheli told the newspaper.
FORBES GEORGIA: “SHARE OF HIGH-RISK SECTORS IN GEORGIAN GDP MAKES UP 33% – “RECOV.GE””
May 13, 2020 - Recov.Ge, online platforms of Colliers International Georgia, estimates that share of those sectors of Georgian economy, which have high risk because of COVID-19 pandemic, makes up 33% of the country’s GDP. In particular, hotels, catering and entertainment have very high risk, however their combined share in GDP is about 10%, the platform specifies.
BANKEBI DA FINANSEBI: “IMF – EXCESSIVE FLUCTUATIONS OF LARI EXCHANGE RATE MAY CONTAIN DANGER IN RESPECT OF FINANCIAL STABILITY”
May 11, 2020 - The IMF points that flexibility of the exchange rate is important for Georgia, as it plays role of shock absorber. However, excessive fluctuations of lari may contain danger in respect of financial stability, the IMF specifies.
energy, oil & gas
FORBES GEORGIA: “WHAT ARE POWER MARKET’S EXPECTATIONS IN GEORGIA FOR 2020?”
May 15, 2020 - “I think that in general, electric power sold in total on energy markets in 2020 will be less, than in previous year”, chairman of Georgian National Energy and Water Supply Regulating Commission David Narmania declares. That is mainly caused by decline of economic activity because of COVID-19 pandemic, he notes.
NETGAZETI.GE: “RACHA NEEDS NOT HYDROELECTRIC STATIONS, BUT BIG NATIONAL PARK – WWF”
May 13, 2020 - The Caucasian office of the World Wide Fund for Nature (WWF) released statement in connection with hydroelectric stations, planned to build in Georgia’s region Racha, Netgazeti.Ge reports. According to the WWF office, hydroelectric stations should not be built in “unjustified places” and should not affect ecosystems of high conservation value.
conflict and court
FORBES GEORGIA: “NO GROUNDS EXIST FOR THE STATEMENT THAT KHAZARADZE AND JAPARIDZE HAD LAUNDERED MONEY – CONCLUSION”
May 15, 2020 - Independent international expert has concluded that there are no grounds for claim that founders of Georgia’s largest TBC Bank Mamuka Khazaradze and Badri Japaridze, as well as businessman Avtandil Tsereteli were engaged in money laundering, individually or in group. The corresponding conclusion was published by TI Georgia, Georgian branch of Transparency International.
companies
BANKEBI DA FINANSEBI: “I ADVISE NATIONAL BANK NOT TO INTERFERE WHEN LARI BEGINS TO STRENGTHEN, AND NOT TO CARRY OUT FILLING OF DOLLAR RESERVE FUND”
May 15, 2020 - Zurab Chkhaidze, founder of Kakhetian Traditional Winemaking (KTW), considers that because of COVID-19 pandemic, Georgian winemaking sector may face short-term problems. Small and medium winemaking cellars will found difficult to keep that pace of sales, which was in place until recent, as their production was calculated mainly on tourist flows, Chkhaidze declared to the Commersant.Ge.
FORBES GEORGIA: ““SILK ROAD GROUP” ATTRACTED 15M EUR FOR ARRANGEMENT OF TELEGRAPH BUILDING”
May 11, 2020 - Silk Road Group signed investment agreement with the Danish investment fund (IFU) regarding attraction of 15 million EUR, the magazine reports. As the Georgian company specified, the funds are intended for arrangement in Tbilisi of the first innovative hotel, complying with “LEED Gold” standard.
NETGAZETI.GE: “WE HAVE NO INFORMATION ON THE NEW BUILDING OR RENT WHAT IS VERY BAD – INFECTIOUS CENTER”
May 11, 2020 - On May 8, Georgia’s Deputy Minister of IDPs from Occupied Territories, Labor, Healthcare andSocial Protection Giorgi Tsotsokoluri assured that selection of the new building for the Tbilisi infectious clinic is actively underway. However, the Center of Infectious Pathology and AIDS itself declared that “similar statements are made already for 10 years, however there is no result”, and now, “unfortunately, we have no any concrete information”.
transport & communications
BANKEBI DA FINANSEBI: “NATIA TURNAVA – IT IS PRIORITY THAT LOW-COST FLIGHTS WERE RESTORED QUICKLY”
May 14, 2020 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, points that most airlines, which operated in Georgia, are ready to resume flights. “It is important for us that flights were resumed to all three international airports – whether it be Tbilisi airport, Kutaisi or Batumi”, the Minister declares.
REZONANSI: “INTER-CITY TRANSPORT WILL RISE IN PRICE RIGHT AFTER RESTORATION!”
May 13, 2020 - Inter-city transport in Georgia is idle already for 2 months. Restoration of inter-city transport operation is not brought in anti-crisis plan of the Georgian government, the newspaper notes.
finances & banking
REZONANSI: “PRIVILEGE ON CREDITS COULD BE EVEN MORE PROLONGED TO THE POPULATION”
May 14, 2020 - Work is underway on extension of a 3-month grace period, offered by Georgian banks to borrowers, the newspaper reports. Alexander Dzneladze, president of Georgian Banks Association, notes that continuation of this process in the same scale as it was made in March is not planned anymore, but certain privileges are still considered.
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Sarke Information Agency |
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