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Economic Press Monitor

June 11 - 17, 2017

Previous Issues:  Days: < 03 10 17 24 01 > 

 

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economic & politics

    NETGAZETI.GE: “THE PARLIAMENT SUPPORTED ANNOUNCEMENT OF MORATORIUM ON LAND SALE TO ALIENS”

    June 16, 2017 - On June 15, the Parliament adopted in first hearing (with 95 votes pro and 7 contra) announcement of moratorium on sale of agricultural land to foreign citizens. The draft bill was not supported by European Georgia and National Movement.


    TABULA: “WORLD BANK: WE DID NOT APPLY TO THE GOVERNMENT WITH REQUEST TO CANCEL ARTICLE 94”

    June 16, 2017 - The World Bank (WB) states that they “did not apply to the government of Georgia with recommendation to cancel or change record of Article 94 of the Constitution”.

    “We think that the model of pension reform, worked out by the state, is fully compatible with Article 94 of the Constitution, i.e. with “Freedom Act”“, WB told in writing to Tabula.


    TABULA: “ADVERTISING IN DOLLARS WILL BE FORBIDDEN – IN WHAT CASE BUSINESSMEN WILL BE FINED”

    June 15, 2017 - Finance Minister Dmitry Kumsishvili declared that after July 1, pricing will be carried out in lari, including in the real estate sphere. “Revenue Service and the Finance Ministry are preparing special marketing clips to raise this legislation’s recognizability among population and private sector”, he noted.


    TABULA: “CHIABERASHVILI: WE DEMAND EXPLANATIONS FROM THE PREMIER REGARDING CORRUPTION IN COURTS”

    June 15, 2017 - Results of “incompetent, unreasoned and harmful policy” of Georgian Dream “has been already reflected in slowed economic growth, reduction of incomes, in fact that jobs are not created in business sector”, the oppositional fraction European Georgia declares.

    Besides, “assault on international companies, operating in Georgia, and thus even bigger intimidation of tens of potential investors deepens that crisis, to which the informal ruling of billionaire Ivanishvili has brought the country”, European Georgia points.


    TABULA: “FADY ASLY: IF FREEDOM ACT IS CANCELLED, INVESTORS WILL LEAVE THE COUNTRY”

    June 14, 2017 - Chairman of International Chamber of Commerce in Georgia (ICC-Georgia) Fady Asly declares: “As we learned, the World Bank demanded from the government to cancel that article in order the government could start smoothly pension reform, which project it has worked out together with the World Bank”.

    According to the project, participation in pension system requires payment of regular pension contributions that is “perceived as introduction of new national tax”, and per se could be made only through holding of national referendum, according to Article 94 of the Constitution, Tabula explains

    If the government cancels Article 94, “it will bring very bad results for economic development of the country”, Asly declares and adds: “we think that start of pension reform is possible without cancellation of Freedom Act” (published on June 13, 14:38).


    FORBES GEORGIA: “BUSINESS ASSOCIATIONS DEMAND RETAIN OF ARTICLE 94 IN THE CONSTITUTION”

    June 14, 2017 - “We, leading business associations, consider that retain of Article 94 in the Constitution in current form is vital for the country’s economic growth and development, maintenance of stable business and investment environment”, extraordinary statement of business associations says.

    The ruling team plans to cancel the mentioned article, according to which introduction of new tax or increase of tax rate is possible only through national referendum.


    TABULA: “THOMAS MELIA: PROCESS OF EXPROPRIATION “OF GEORGIAN MANGANESE” LOOKED OPAQUE”

    June 13, 2017 - USAID’s Assistant Administrator for Europe and Eurasia Thomas Melia declares that Georgian Manganese company “is actually expropriated”. “If I correctly understand, its management is removed by Tbilisi court and process looked accelerated and opaque”, he specifies.


    TABULA: “KUMSISHVILI: ECONOMY MINISTRY WORKED OUT ANTI-DUMPING BILL”

    June 13, 2017 - “Economy Ministry has worked out the dumping-forbidding draft bill”, declares Finance Minister Dimitri Kumsishvili, who was Minister of Economy earlier. “Now, timeframe is necessary to specify for its public consideration, after which this bill will be submitted to the Parliament”, he says.


macroeconomics & budget

    REZONANSI: “THE MOST EXPENSIVE SUMMER IN RECENT YEARS”

    June 13, 2017 - As a rule, agricultural products and other seasonal goods become cheaper at the end of spring that did not occur this year, the newspaper states. Moreover, prices of some products obviously grew in comparison with last year, the article notes.


energy, oil & gas

    FORBES GEORGIA: “CONSTRUCTION OF “NAMAKHVANHES” TO START IN MAY OF NEXT YEAR”

    June 16, 2017 - Norwegian Clean Energy Group, investor of the project of series of NamakhvanHES, plans to finish negotiations with international financial institutions until end of October, the magazine reports.

    As director of JSC Namakhvani Giorgi Chachibaia explains, the investor company “will not be able to finance the project fully, therefore negotiations on attraction of the credit are conducted with large financial institutions”.


    FORBES GEORGIA: “IN 7 MONTHS, KARTLI WIND STATION GENERATED BY 3M KWH MORE ENERGY THAN WAS FORECASTED”

    June 16, 2017 - Auditor company BDO completed assessment of Kartli wind station and in near future, this power plant will be put on electronic auction, the magazine reports.

    Georgian Energy Development Fund counts that announcement of auction on the station will happen until end of the month.


    KVIRIS PALITRA: “GAS TARIFF IN SUMMER WILL INCREASE!”

    June 12, 2017 - Members of ruling team do not deny that growth of gas tariff is expected, though according to part of experts, there are no objective reasons for price growth, the newspaper says.

    Energy specialist Temur Chichinadze states: “In that part, where the tariff is regulated by regulating commission, I am sure that political decision regarding growth of the tariff is already made”.


conflict and court

    NETGAZETI.GE: “WITH WHAT KIDNAPPING OF DIRECTOR OF LLC “SVETI” IS CONNECTED”

    June 14, 2017 - Kidnappers of Givi Jibladze, one of directors and founder of construction company, LLC Sveti, demanded payment of $150,000 and re-registration on them of his land site in Bakuriani of 200 square m, the newspaper reports.

    Jibladze, who was released after promise of the sum payment, applied to Interior Ministry and 4 persons were detained on June 12 on a charge of extortion and illegal imprisonment.


    TABULA: “NEWS BRIEFING ON CASE OF “GEORGIAN MANGANESE”, PLANNED IN ENVIRONMENT PROTECTION MINISTRY, FAILED”

    June 14, 2017 - Special press conference on case of Georgian Manganese was announced to be held on June 13 in the Ministry of Environment and Natural Resources Protection.

    Journalists had waited for an hour beginning of the news briefing, after which the press service of the Ministry declared that it is postponed for indefinite time, Tabula reports and notes: the Ministry does not comment on what was planned to present at the briefing.


    FORBES GEORGIA: ““INTERRAO” IS GOING TO PROCEED WITH LAWSUIT AGAINST GEORGIAN PARTY IN COURT”

    June 12, 2017 - InterRAO (owner of over 75% in Tbilisi energy distributor TELASI) demands from Georgian party compensation in connection with loss, caused by lari devaluation, the magazine reports.

    At that, the company declares that the regulating commission’s decision, made in connection with tariffs’ correction, was not correct and inflicted loss of millions of dollars to them.


    KVIRIS PALITRA: “THE COURT SENT MESSAGE TO ALL THAT IN GEORGIA FOREIGN BUSINESS WILL BE PROTECTED”

    June 12, 2017 - The Appeal Court cancelled ruling of court of the first instance and exempted Philip Morris Georgia from payment of sanctions of 92 million lari, as well as cancelled fine of $100 million, imposed on British American Tobacco.

    The claim against the mentioned companies was submitted by Georgian producers, Tbilisi Tobacco and OGT, member of Omega Group, because of allegedly selling of production on Georgian market for years at the price below prime cost.


companies

    REZONANSI: “PER-HEAD PAYMENT FOR WATER – YOU CONSUME LESS, YOU PAY MORE”

    June 13, 2017 - GWP (Tbilisi company of water supply and sewerage) has no obligations to the state regarding installation of water meters, the newspaper notes.

    However, director of department at National Energy and Water Supply Regulating Commission Grigol Mandaria declares that tariff methodology will be approved in the end of the year and, respectively, concrete schedule will be set for the company.


transport & communications

    FORBES GEORGIA: “IN TERMS OF INTERNET ACCESSIBILITY, GEORGIA IS ON THE 85TH PLACE IN THE WORLD”

    June 12, 2017 - Referring to World Economic Forum, the magazine reports that Georgia occupies the 85th place among 138 countries in terms of Internet accessibility. The country’s rate in this term makes up 45.2%.


ecology & health

    BANKEBI DA FINANSEBI: ““GPIH” OFFERS NEW MODEL OF PRIVATE INSURANCE SYSTEM’S INTEGRATION IN THE STATE FINANCING OF HEALTHCARE”

    June 15, 2017 - Model, initiated by GPIH insurance company, envisages obligatory private insurance of employees in private and public sector.

    With this approach, the private insurance system will be able to cover quickly and painlessly over 2 million people and to secure this segment with existing programs of universal healthcare, as well as with other additional service, the company declares.


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