Economic Press Monitor September 10 - 16, 2017	Days:  19 09 16 23 30

economic & politics

LIBERALI: “CHAIRMAN OF LABOR UNIONS’ ASSOCIATION HAS 4 NEW DEPUTIES”

September 15, 2017 - Irakli Petriashvili was elected as chairman of Georgian Labor Unions’ Association again, Liberali reports. In his favor had voted 139 delegates voted, while his competitor Amiran Zenaishvili received 62 votes.




TABULA: ““DREAM” RECEIVED DONATIONS OF 7.3M – THAT IS 95% OF TOTAL DONATIONS”

September 14, 2017 - According to report of State Audit Service, from July 1 through September 12, ruling Georgian Dream has received donations of 7.34 million lari. As Tabula notes, that makes up 95% of total donations to political parties in the country.




EUGEORGIA.INFO: “EXPERIENCE OF MAKING OF RIA IN GEORGIA AND ABROAD”

September 14, 2017 - The article brings commentary of Maka Chitanava and Levan Pavlenishvili, researchers of International School of Economy at Tbilisi State University (ISET), in connection with criterion of Regulatory Impact Assessment (RIA).

The experts point that introduction of RIA is especially actual in countries of the EU and Organization for Economic Cooperation and Development (OECD).




NETGAZETI.GE: “CONSIDERATION OF PENSION REFORM TO BE LAUNCHED IN THE END OF MONTH”

September 12, 2017 - Minister of Economy and Sustainable Development Giorgi Gakharia declared that his ministry is working on pension reform and “for today, the legislative text is already ready and public consideration will begin soon”.

The Minister declared this at the meeting with business associations and noted: “one wave of public considerations is already held with financial sector, and also with business associations.




KVIRIS PALITRA: “TODAY, THERE IS NOMENCLATURE CAPITALISM IN GEORGIA!”

September 11, 2017 - In August 2017, donations to political parties had amounted to 4.87 million lari, of which 4.56 million lari was share of ruling Georgian Dream.

As expert Gia Khukhashvili points, “pre-election donations resemble for a long time collecting of duties by ruling force”.




NETGAZETI.GE: “FULL-HOUSED CITY: KALADZE’S LINKS WITH “ARCHI GROUP””

September 11, 2017 - The candidate for Tbilisi Mayor’s office from ruling Georgian Dream Kakha Kaladze promises in case of election to end “urbanistic genocide”, the newspaper says. However, as the article specifies, Kaladze himself got from the City Hall the permission for construction of 8-storeyed building in the place, where law allows 3 floors at most.

companies

NETGAZETI.GE: “LICENSE FOR SADGERI SUBTHERMAL WATERS’ EXTRACTION WAS HANDED OVER TO “PARK HOTEL” FOR 21 YEARS”

September 15, 2017 - LLC Park Hotel got permission on subthermal underground waters’ extraction in Sadgeri (Borjomi gorge) until 2041 for 25,000 lari, Netgazeti.Ge reports.

The article points that the license is handed over to the company in the direct way.




FORBES GEORGIA: ““FITCH RATINGS” ESTIMATES PARTNERSHIP FUND”

September 14, 2017 - Fitch Ratings has equated rating of Georgian Partnership Fund to sovereign rating of the country – “BB-”, outlook is “stable”, the magazine reports.

As Fitch notes, the government of Georgia uses the Fund as a funding mechanism, which has to secure stimulation of investments into economy.




FORBES GEORGIA: “GEORGIA’S LARGEST FOREIGN INVESTOR COMPANIES AND COUNTRIES”

September 12, 2017 - According to Sakstat, foreign direct investments in Georgia amounted in the 2^nd quarter to $346.6 million, decreasing by 14.3% year-on-year.

The magazine notes that Sakstat does not rate investor companies according to their investments’ volume and does not issue information on investments of each particular company.




TABULA: “RESTAURANTS HAVE HIGHER INCOME THAN HOTELS”

September 11, 2017 - Restaurants of Georgia employ 20,000 people, Tabula reports. As the article notes, this number nearly 2 times exceeds number of occupied in hotels.

international cooperation

TABULA: “THE EU PLANS CANCELLATION OF ROAMING TARIFFS FOR GEORGIA”

September 12, 2017 - Roaming tariffs were cancelled on the territory of the EU on June 15, while now, the EU plans to extend this change to Georgia, Ukraine and Moldova, Tabula reports with reference to Radio Liberty.

As the article notes, official discussion on roaming issues will be launched at the Brussels summit of Eastern Partnership, planned for November.

ecology & health

REZONANSI: “INSECTS AND FIRES INFLICTED LOSS OF HUNDREDS OF MILLIONS LARI TO GEORGIA”

September 14, 2017 - Since June, pests attack Western Georgia, while fires rage in Eastern Georgia, the newspaper states. Material damage in both cases is huge.

finances & banking

FORBES GEORGIA: ““MOODY’S” ASSIGNED RENEWED RATINGS TO GEORGIAN BANKS”

September 15, 2017 - Moody’s updated ratings to two Georgian banks, the magazine reports.

Namely, the agency upgraded TBC Bank’s rating of deposits in local currency from “Ba3” to “Ba2”, while in foreign currency – from “B1” to “Ba3”, the article specifies.




REZONANSI: “CREDITS SHOULD NOT BE ISSUED TO ANY PERSON BELOW 23 YEARS”

September 13, 2017 - Number of credit-dependent persons grows in Georgia day by day, the newspaper states.

Banking expert Irakli Berdzenadze considers that population of the country participates in that credit pyramid scheme, which does not stop and constantly heaves up, the article specifies.

agriculture & food

BANKEBI DA FINANSEBI: “NEW TAX ESTABLISHED FOR TO POULTRY SPHERE”

September 15, 2017 - According to the government’s order, terms and cost of National Food Agency’s service are determined since August 24, the newspaper reports. Namely, cost of veterinary check of chicken meat makes up 5 tetri per head.

tourism

TABULA: “TEMUR CHKONIA TO BUILT 5-STAR HOTEL “COURTYARD MARRIOTT” IN KUTAISI”

September 13, 2017 - Businessman Temur Chkonia will built in Kutaisi 5-star hotel, having 100 rooms at least, which will be operated by Courtyard Marriott, Tabula reports. In this regard, the businessman signed a memorandum with the city hall of Kutaisi.




FORBES GEORGIA: “WTTC: SHARE OF TOURISM IN ECONOMY OF GEORGIA AND COUNTRIES OF THE REGION”

September 13, 2017 - World Travel and Tourism Council (WTTC) forecasts that direct contribution of travel and tourism to Georgian GDP will grow in 2017 up to 10.6%. In 2016, this share was 8.1%.