Economic Press Monitor March 11 - 17, 2018	Days:  03 10 17 24 31

economic & politics

TABULA: “THE EU TO ALLOCATE 45M EUR TO GEORGIA”

March 16, 2018 - The European Parliament supported allocation of 45 million EUR to Georgia, Tabula reports. The decision was supported by 570 deputies, while 108 were contra.




NETGAZETI.GE: “KELLY NAMES “PHILIP MORRIS” AS EXAMPLE OF PROBLEMS, WHICH AMERICAN COMPANIES ARE FACING IN GEORGIA”

March 16, 2018 - While replying on question, asking what did he meant when spoke about problems, which the American companies are facing in Georgian court, the US ambassador in Georgia Ian Kelly recalled case of Philip Morris, Netgazeti.Ge writes.

“It is beyond my competence to speak on opposition between the private companies”, the ambassador declared, pointing however: “I think, it is my competence to advocate the American business”.




EUGEORGIA.INFO: “THE EU FINANCES THE INTERIOR MINISTRY WITH 15M EUR IN ORDER TO IMPLEMENT ONGOING REFORMS”

March 14, 2018 - The EU will spend 15 million EUR for ongoing projects on Georgian Interior Ministry’s capacity building, Eugeorgia.Info reports. The article lists the projects, which are implemented in the Ministry through financing of the EU.




TABULA: ““UNM”: FOR MOVING OF TREE IN KOBULETI, BIDZINA IVANISHVILI CUT DOWN WIND-SHELTER STRIP”

March 13, 2018 - More than 100 trees were cut down because of moving of eucalyptus tree to the dendrology park, located in the yard of Bidzina Ivanishvili (billionaire ex-premier), declares Rezo Kharazi, member of oppositional United National Movement (UNM), resident of Kvirike village of Kobuleti municipality of Ajara.

Kharazi specified that the eucalyptus tree has to be removed from yard of the local resident, while almost all trees are cut down at distance of about a half a kilometer on the road to this yard.




KVIRIS PALITRA: “GAME WITH TRILLIONS”

March 12, 2018 - Last list of Forbes contains 2,208 billionaires from 72 countries, which total capital amounts to $9.1 trillion, increasing year-on-year by 18%.

Giorgi Kapanadze, vice-president of Young Businessmen and Financiers Association, declares: “It is difficult to say today, whether Georgia has another billionaire, except Bidzina Ivanishvili”.

macroeconomics & budget

TABULA: “BATUMI CITY HALL LOST 1,430,342 LARI, INVESTED IN “CHEAP HOUSE” PROJECT”

March 15, 2018 - Because of wrong decision of the City Hall of Batumi, made in 2015, the city invested taxpayers’ 1.43 million lari in the project, which was not implemented, Tabula reports with reference to State Audit Service.

In 2015, Batumi City Hall presented the project, which envisaged construction of 4 cases for persons, not having own houses and living in barracks.




FORBES GEORGIA: “GEORGIAN REGIONS WITH BIGGEST FDI”

March 14, 2018 - In Tbilisi, foreign direct investments (FDI) of $1.4 billion were made in 2017, accounting for about 75% of total FDI volume, the magazine reports with reference to preliminary data of Sakstat. In 2016, this volume made up $1.3 billion.




REZONANSI: “EVERY THIRD PERSON USES LOAN FOR PHYSICAL SURVIVAL”

March 13, 2018 - According to research, conducted 2 years ago by Oxfam, every 7^th family in Georgia copes with hunger at the expense of credits, taken from commercial banks and microfinancial organizations, the newspaper reports.

Economist Emzar Jgerenaia says: “For the last 2-3 years, situation in the country became very heavy”.




TABULA: “NONEXISTENT INVESTMENTS, FRIGHTENED INVESTORS AND ECONOMIC DROP”

March 13, 2018 - According to estimation of Sakstat, foreign direct investments (FDI) in Georgia’s agriculture amounted in 2017 to only $3.6 million.

Such small volume of investment in agriculture was not fixed after 2007, Tabula says and specifies that in the reporting year, agrarian sector accounted for less than 0.02% of total FDI in Georgia.




EUGEORGIA.INFO: “HOW SHOULD EMIGRANTS’ MONEY TO BE TURNED INTO INVESTMENTS?”

March 12, 2018 - Since April, International Organization for Migration (IOM) will join the EU-financed project “Sustaining Border Migration Management in Georgia” (SBMMG), Eugeorgia.Info reports.

As the article says, the project will assist to dissemination of information on turn of Georgian emigrants’ remittances into investment potential.

energy, oil & gas

FORBES GEORGIA: “HOW STEADY GEORGIA’S ENERGY SUPPLY SYSTEM IS – RESEARCH OF WEF”

March 16, 2018 - The first report on energy efficiency, released by the World Economic Forum (WEF), places Georgia on the 48^th place among 114 countries in terms of overall performance of energy supply system.

In a component of economic growth and development (electricity prices and competitiveness), Georgia is on the 42^nd place.




REZONANSI: “AT FIRST, IMPORTED ELECTRICITY TO RISE IN PRICE, THEN – CONSUMER TARIFF”

March 15, 2018 - During past 4 years, Georgia needs monthly import of electricity, while before that such need was not appear during the summer period, the newspaper points.

At this stage, cost of 1 kWh of imported electricity ranges within 11-12 tetri, i.e. is approximately at the same level, as cost of electricity, generated by local heat stations, the article specifies.

conflict and court

FORBES GEORGIA: “WHO ARE OWNERS OF “CT PARK””

March 15, 2018 - The City Hall of Tbilisi decided to break off the contract with CT Park, so starting from April 10 organization of parking will be undertaken temporarily by transport company of the City Hall.

CT Park names the City Hall’s decision illegal and announces intention to go to court, the magazine reports.




REZONANSI: ““GEORGIAN MANGANESE” INSTEAD OF 200 WILL PAY 7 MILLION TO THE STATE”

March 13, 2018 - The metallurgical company Georgian Manganese will pay 7 million lari in favor of Georgia’s budget, the newspaper reports.

Originally (in 2015), Revenue Service imposed on the company payment of 200 million lari.

companies

NETGAZETI.GE: “IN GEORGIA, OUT OF 10 COMPANIES WITH BIGGEST TURNOVER, 3 ONES ARE TOTALIZATORS”

March 15, 2018 - Sakstat released estimation of top 10 companies, having biggest turnover (the companies are not ranked according to their turnover volume).

Among these companies, there are 3 totalizators, Netgazeti.Ge specifies.




FORBES GEORGIA: “GEORGIA’S LARGEST INVESTOR COMPANIES – TOP 10”

March 13, 2018 - According to Sakstat’s estimation, foreign direct investments, made in Georgia in 2017, totaled to $1.8 billion, exceeding by 16.2% the showing of 2016.

Referring to Sakstat, the magazine brings the list of those enterprises, which had biggest investments in the last year.

transport & communications

FORBES GEORGIA: “THE LOGISTIC HUB AND CHALLENGES”

March 15, 2018 - One of the officially declared state priorities is transformation of Georgia into regional hub, the magazine says.

At the same time, Georgia has a heavy heritage in legislative regulation of forwarding business, the article indicates.




TABULA: “CITY HALL: WE WILL FINE WITH 200 LARI ALL TAXI, WHICH WILL MOVE WITHOUT LICENSE”

March 14, 2018 - City Hall of Tbilisi works over introduction of new regulation for taxi drivers, Tabula reports. In particular, taxi drivers will have to pass registration, install information displays and taximeters and to operate by uniform tariff.

finances & banking

FORBES GEORGIA: ““TBC” INCREASES VOLUME OF SHARES ON LONDON STOCK EXCHANGE”

March 12, 2018 - TBC Bank will place additional 618,640 ordinary shares on London Stock Exchange, the magazine reports.

The article notes that after additional emission, number of the bank’s shares on London Stock Exchange will exceed 53.55 million.

agriculture & food

TABULA: “WHEN MARMORATED STINKBUG WILL WAKE UP”

March 16, 2018 - In Georgia, 810,000 citizens live in zone, where brown marmorated stinkbug will quit a hibernation phase in several weeks and will start feeding with crops, Tabula says.

As the article notes, brown marmorated stinkbug appeared in Georgia for the first time in 2015, when its damage to agriculture was quite small.