Economic Press Monitor September 10 - 16, 2023	Days:  02 09 16 23 30

economic & politics

TABULA: “ZURABISHVILI PRESENTED TO PARLIAMENT CANDIDATES FOR MEMBERSHIP IN NBG COUNCIL”

September 15, 2023 - Georgia’s President Salome Zurabishvili presented to Georgian Parliament 2 candidates for membership in the council of the National Bank of Georgia (NBG). The nominees are Nana Keinishvili and Teimuraz Khomeriki.




TABULA: “US IMPOSED SANCTIONS AGAINST OTAR PARTSKHALADZE”

September 15, 2023 - The US State Department imposed sanctions against Georgia’s former main prosecutor (November-December 2013) Otar Partskhaladze.

“Partskhaladze has fully taken on a Russian identity and routinely travels to Russia”, and also “Partskhaladze has reportedly personally profited from his FSB connection”, the Department said in a statement.




NETGAZETI.GE: “WHAT PROPERTY DOES PRIME MINISTER’S FATHER TARIEL GARIBASHVILI OWN”

September 14, 2023 - Tariel Garibashvili, 71, granted 300,000 lari to his son, Georgia’s Prime Minister Irakli Garibashvili, in 2021-2022, while recently paid 34,000 EUR for renting a government plane for the Premier’s personal trip.

In this February, Tariel Garibashvili acquired 50% in the wine company Kartuli Pesvebi (Georgian Roots), for which he paid 200,000 lari.




NETGAZETI.GE: “STATEMENT BY THE PRESIDENT OF THE EUROPEAN COMMISSION ON DIFFERENT PERSPECTIVES OF UKRAINE-MOLDOVA AND GEORGIA”

September 14, 2023 - President of the European Commission Ursula von der Leyen believes that future of Ukraine, Moldova and the Western Balkans is in the EU. She declared this, while speaking in the European Parliament.




TABULA: “CITIZENS OF GEORGIA AND RUSSIA WILL NEED A VISA FOR TRAVEL VIA BRITAIN”

September 14, 2023 - Since September 8, citizens of Georgia and Russia will need a visa for travel to other countries via the UK.

The obligation to have a visa will reduce number of visits to the UK with aim of asylum seek, according to the UK Home Office (Interior Ministry).




TABULA: “NATIONAL WINE AGENCY: AGREEMENT WITH LLC “KARTULI PESVEBI” WAS CANCELLED ON SEPTEMBER 1”

September 13, 2023 - Zurab Japaridze, leader of the opposition movement Girchi, reported that the state-owned Harvest Management Company has signed a simplified agreement with LLC Kartuli Pesvebi (Georgian Roots), 50% of which belongs to the father of Prime Minister Irakli Garibashvili. Under the agreement, the state-owned company will pay 150,000 lari to Kartuli Pesvebi for the processing of grapes.




BANKEBI DA FINANSEBI: “OWNER WILL HAVE AN OBLIGATION TO CULTIVATE AGRICULTURAL LAND”

September 13, 2023 - Georgian government is working on a draft of the Land Code. The document will be submitted to the Parliament during the autumn session.




FORBES GEORGIA: “MANAGEMENT OF PARTNERSHIP FUND HAS CHANGED – THE ORGANIZATION HAS A NEW DIRECTOR”

September 13, 2023 - Besik Bugianishvili was appointed to the post of executive director of the Georgian Development Fund (previously the Georgian Partnership Fund). He will chair also the board of directors.




NETGAZETI.GE: “STRATCOM: AIRPLANE EXPENSES WERE NOT COVERED FROM BUDGET”

September 11, 2023 - Georgia’s Prime Minister Irakli Garibashvili took a government plane for a personal visit, in particular, he travelled from Tbilisi to Munich with his 18-year-old son, with whom he then went to the US (where his son is studying), TV company Pirveli reported. In Munich, the plane waited several days for the Premier to bring him back to Georgia.




BANKEBI DA FINANSEBI: “NATIONAL BANK – IMF POSITIVELY ESTIMATES FRAMEWORK OF THE NATIONAL BANK’S MONETARY POLICY”

September 11, 2023 - The IMF has published a new research, examining steps taken by central banks to modernize monetary policy.

Central banks should develop a future-oriented strategy that connects goal of achieving price stability with policy decisions, the research says.




REZONANSI: ““WE GOT A GUARANTEE THAT THERE WILL BE NO FINAL REFUSAL” – WHAT BORRELL SAID AT A CLOSED MEETING”

September 11, 2023 - EU High Representative for Foreign Affairs and Security Policy Josep Borrell, who visited Georgia on September 7-8, met with Georgian Prime Minister and representatives of the opposition.

Giorgi Vashadze, leader of Agmashenebeli Strategy, said that “We, the opposition, at all meetings received a guarantee that in December (when Georgia’s eligibility for the membership candidate status should be decided), regardless of how Georgian Dream behaves, there will be no final refusal”.

macroeconomics & budget

FORBES GEORGIA: “IN TERMS OF INFLATION RATE, GEORGIA IS ON 170^TH PLACE IN THE WORLD”

September 13, 2023 - Referring to Trading Economics, the magazine reports that annual inflation in Georgia in August made up 0.9%. In this term, Georgia ranks 170^th among 185 countries of the world.

energy, oil & gas

BATUMELEBI: “3 NEW HYDROELECTRIC POWER STATIONS ARE BEING BUILT ON THE MUDFLOW RIVER IN GURIA – “WHY DID THEY START ON THE SLY?””

September 11, 2023 - In the gorge of Bzhuzha River in Guria region, it is planned to build 3 small hydroelectric power stations, for which end construction of a road through the forest has begun. However, the local population declares that this is the seismically dangerous zone and the mudflow river.

companies

BANKEBI DA FINANSEBI: ““TBC” ATTRACTED $70M FROM “CITIBANK” FOR FINANCING OF TRADE”

September 15, 2023 - TBC Bank attracted $70 million from Citibank for financing of trade. This resource will be used for financing of large customers’ export-import transactions.




BANKEBI DA FINANSEBI: ““ADJARISTSQALI GEORGIA” – DIDACHARI DAM IS STRUCTURALLY STABLE AND IN PROPER OPERATIONAL CONDITION”

September 14, 2023 - There is no reason for concern about safety of the Didachari dam (on the Acharistskali River in Ajara), Adjaristsqali Georgia assures. The company issued a statement in response to media reports, circulated in recent days.




BANKEBI DA FINANSEBI: “WITH THE FINANCIAL SUPPORT OF “SAKARTVELOS BANKI”, NEW HOTEL OF “IBIS” BRAND WILL BE BUILT NEAR TBILISI INTERNATIONAL AIRPORT”

September 11, 2023 - Fujin Silk Properties will build a 3-star Ibis hotel near Tbilisi airport. The 4-storey hotel will be designed for 72 rooms.

transport & communications

BANKEBI DA FINANSEBI: ““LEADING INTERNATIONAL COMPANIES ARE INTERESTED IN ANAKLIA PROJECT: EUROPEAN, ASIAN COMPANIES, THERE ARE ONES FROM THE NEIGHBORHOOD TOO””

September 11, 2023 - Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili confirms that Chinese companies have an interest in construction of the deep-water port of Anaklia.

However, there is interest not only from Chinese companies, but many other international companies are interested in the project, the Minister declared to journalists.

finances & banking

BANKEBI DA FINANSEBI: “CREDIT REGULATIONS WILL SOFTEN”

September 15, 2023 - Archil Mestvirishvili, vice president of National Bank of Georgia, declared that certain correction of credit regulations is expected and not in the direction of tightening.

Risks, acting from the side of demand, are neutralized, annual growth in lending has stabilized at 14%, which is considered sustainable, Mestvirishvili noted.

tourism

NETGAZETI.GE: ““TARGET IS UP TO 10 DAILY FLIGHTS TO CHINA” – DAVITASHVILI”

September 11, 2023 - The Georgian government is working with China Southern Airlines to increase the frequency of flights, reported Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili.

At the 1^st stage, we will have at least 1 daily flight, i.e. 7 flights a week, it will be a tripartite flight – Beijing-Urumqi-Tbilisi, the Minister told journalists.