Economic Press Monitor December 11 - 17, 2022	Days:  03 10 17 24 31

economic & politics

NETGAZETI.GE: “ABSOLUTELY ADEQUATE – KOBAKHIDZE ON KALADZE’S STATEMENT”

December 15, 2022 - Tbilisi Mayor Kakha Kaladze declared that if granting status of the EU membership candidate to Georgia depends on the issue of ex-President Mikheil Saakashvili, then the EU can “keep for themselves” this “status that means nothing”.

For his part, Irakli Kobakhidze, chairman of the ruling Georgian Dream, declared that this statement by Kaladze is “absolutely adequate”.




TABULA: “SANCTIONING IVANISHVILI, RELEASING SAAKASHVILI AND GVARAMIA – RESOLUTION OF THE EUROPEAN PARLIAMENT”

December 15, 2022 - The European Parliament adopted an annual resolution on implementation of the EU-Georgia Association Agreement, which was supported by 430 out of 608 MEPs, with 52 votes “contra” and 126 “abstaining”.

To the resolution’s chapter, consisting of the European Parliament’s recommendation to eliminate the excessive influence in the country of Bidzina Ivanishvili (billionaire founder of the ruling Georgian Dream), an entry was added calling on the European Council and democratic partners “to take appropriate measures, including imposing personal sanctions on Ivanishvili and all those individuals enabling and responsible for the deterioration of the democratic political process”.




FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, ANOTHER DISCUSSION TOOK PLACE WITHIN THE FRAMEWORK OF “ECONOMIC FORUM””

December 14, 2022 - Within the framework of the joint project of Sakartvelos Banki (Bank of Georgia) and analytical center GeoCase, another discussion of the “Economic Forum” took place on December 12. Key topic of the meeting was “Importance of the Middle Corridor and Georgia’s role”.




BANKEBI DA FINANSEBI: “THE EU COUNCIL APPROVED A PACKAGE OF ASSISTANCE TO GEORGIA WORTH 20M EUR”

December 12, 2022 - The European Council has approved another package of financial assistance to Georgia within the framework of the European Peace Facility (EPF), Georgian Defense Ministry reported. The package worth 20 million EUR aims to strengthen the country’s defense capacity.




REZONANSI: “RUSSIANS PRAISED US AND ONCE AGAIN PROMISED TO RESUME AIR COMMUNICATION – “WE SHOULD NOT BE NOT FOOLED””

December 12, 2022 - Denis Gonchar, director of the 4^th CIS Department at the Russian Foreign Ministry, declared that if “necessary prerequisites are formed”, “we do not rule out” making a decision regarding the possibility of restoring direct flights with Georgia and prospects for visa liberalization for Georgian citizens.

Gonchar said this to Russian state news agency TASS on December 10, and positively assessed that “despite provocative calls to open a second front, Georgia maintains a practical line”.

macroeconomics & budget

FORBES GEORGIA: “INFLATION IN GEORGIA AND THE WORLD – NOVEMBER-DECEMBER”

December 15, 2022 - Referring to tradingeconomics.com, the magazine reports that in terms of inflation, Georgia ranks 76^th among 178 countries. In November, annual inflation in Georgia made up 10.4%.




NETGAZETI.GE: “AVERAGE SALARY IN GEORGIA, WHICH ALLOWS YOU TO LIVE, IS 1,770 LARI – A NEW RESEARCH”

December 13, 2022 - A research of Wage Indicator showed that the salary in Georgia, which allows a person to maintain himself for a month, makes up 1,770 lari (as of October). The matter concerns income before taxation, the article specifies.




BANKEBI DA FINANSEBI: “NET REVENUE OF THE PENSION AGENCY FUND MADE UP 418M LARI”

December 12, 2022 - Georgian Pension Agency reported that starting from 2019 (when the accumulative pension system was enacted in the country) through November 2022, net revenue of the Pension Fund amounted to 39.9%. Real revenue (adjusted for inflation) made up 1.71%.

energy, oil & gas

REZONANSI: “GAS HAD TO DECREASE IN PRICE, BUT THE COMMISSION STILL LEFT THE HIGH TARIFF IN FORCE!”

December 13, 2022 - Georgian National Energy and Water Supply Regulating Commission decided to maintain the consumer tariff of natural gas at the same level.

The Commission explained that the maintenance of the tariff is caused by the state participation in financing of so-called social gas and recent stability of lari exchange rate.

companies

BATUMELEBI: “TO WHOM THE CITY HALL GRANTS FOR 20 YEARS THE RIGHT TO PLACE ADVERTISEMENT IN BATUMI”

December 16, 2022 - The contract of LLC Ajadi, which held exclusive right to place street advertising in Batumi, has expired.

Batumi City Hall should announce an auction on obtaining a permit for outdoor advertising.




REZONANSI: ““TURMANIDZE”, “SALKHINO” AND OTHER TRADITIONAL MEDICINES WILL SOON DISAPPEAR FROM THE MARKET! – THE REASON IS THE NEW STANDARD”

December 16, 2022 - Because of discrepancy with the standard of good manufacturing practice (GMP), activities of 43 Georgian pharmaceutical enterprises are restricted, the newspaper reports.

Levan Gogiberidze, president of Georgian Pharmacists Association, says that only 2 plants operate according to this standard and at most 2 ones will be added before end of the year.




FORBES GEORGIA: “25 YEARS OF TECHNOLOGICAL LEADER”

December 16, 2022 - UGT was founded in Georgia in 1997 by Giorgi Chirakadze, who was soon joined by Guram Khojanashvili, Giorgi Maisuradze and Ermile Suladze, all four physicists. Today UGT is the only IT-company in Forbes ranking of the 100 largest Georgian companies.




NETGAZETI.GE: “INSURANCE COMPANY “ALDAGI” ESTABLISHES DIRECTION OF INTERNATIONAL REINSURANCE”

December 15, 2022 - Insurance company Aldagi establishes the direction of international reinsurance, which will operate independently from the direction of insurance.

This is the first case in the industry, when an insurance company separates areas of insurance and reinsurance and will be represented in both segments, the article notes.




REZONANSI: “FOR GEORGIAN ENTREPRENEURS, DOORS OF RETAIL CHAINS ARE SEALED”

December 14, 2022 - It is easier for big part of Georgian companies to export their production than to sell it in leading local retail chains, the newspaper says.

Some entrepreneurs say that because of difficulties with sales in retail chains, cost of their production increases by 22-25%, the article indicates.




NETGAZETI.GE: “BUILDING OF THE SPORTS UNIVERSITY AND LAND AROUND IT WAS ACQUIRED BY THE COMPANY OF NOSHREVAN NAMORADZE”

December 13, 2022 - Building of the Sports University, located at Chavchavadze Ave. 49 (Vake district of Tbilisi), and a surrounding land plot of 18.019 square m were sold on December 8 for 11.02 million lari. The starting price made up 10 million lari.

transport & communications

REZONANSI: “IN JUST 3 WEEKS, MOST CARS MAY NOT BE ABLE TO PASS INSPECTION AT ALL”

December 16, 2022 - As part of reform of vehicles’ periodic inspection, a tightened standard of exhaust gas inspection enters in force on January 1, 2023.

Transport experts welcome introduction of the regulation, but indicate that car market meets the legislative amendment unprepared, the article says.




REZONANSI: “CAR INSPECTION INCREASES IN PRICE, THOUGH IN INDIRECT FORM”

December 14, 2022 - The Georgian government has already adopted a resolution, which introduces payment for the repeated inspection of vehicles starting from next February, the newspaper reports. Until now, car owners had not to pay for technical inspection, in case it was conducted within 1 month after the initial one.

international cooperation

NETGAZETI.GE: “GEORGIA WILL BE CONNECTED TO THE EU BY A POWER LINE, FOR WHICH WE WILL SPEND 2.3B – VARHELYI”

December 13, 2022 - Oliver Varhelyi, the European Commissioner for Neighborhood and Enlargement, declared that the volume of the economic and investment program within the framework of the Eastern Partnership (which includes Georgia) will amount to 17 billion EUR.

In particular, the program envisages laying of power line along the bed of the Black Sea.