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Economic Press Monitor

January 12 - 18, 2020

Previous Issues:  Days: < 28 11 18 25 01 > 

 

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economic & politics

    NETGAZETI.GE: “31 MPS FINED BECAUSE OF WRONG FILLING OF DECLARATIONS”

    January 17, 2020 - Referring to Georgian Public Service Bureau, Netgazeti.Ge reports that 31 deputies of Georgian Parliament were fined because of wrong filling of property declarations. The Bureau published the report on results of declarations monitoring for 2019.


    BANKEBI DA FINANSEBI: “IRAKLI KARSELADZE – IN ORDER WE BUILT NEW ROAD TO ANAKLIA, THE PORT HAS TO EXIST”

    January 17, 2020 - Irakli Karseladze, chairman of Georgian Roads Department, said that as the Georgian government terminated the agreement with Anaklia Development Consortium on construction of deep-water port in Anaklia, construction of new railroad and motor road to Anaklia is not currently in the agenda.

    Though, according to Karseladze, the project of new railroad and motor road is already prepared and its technical refinement is underway.


    NETGAZETI.GE: “NATIA TURNAVA FINED BECAUSE OF WRONG FILLING OF DECLARATION”

    January 17, 2020 - Referring to Georgian Public Service Bureau, Netgazeti.Ge reports that Minister of Economy and Sustainable Development Natia Turnava was fined because of wrong filling of the property declaration. The Bureau published the report on results of declarations monitoring for 2019.


    TABULA: “OMBUDSMAN: ELEMENTS NECESSARY FOR MONEY LAUNDRY CRIME ARE NOT SEEN IN FILES OF “TBC” CASE”

    January 16, 2020 - Georgian Public Defender considers that files, related to case of Mamuka Khazaradze and Badri Japaridze, founders of Georgia’s biggest TBC Bank, lack elements, which are necessary in order to recognize their actions as money laundry.

    As the Ombudsman specifies, existence of illegally gained “black money”, which is prerequisite for process of legalization of illegal income and which the criminal tries to integrate into a money-and-credit system, is not traced.


    NETGAZETI.GE: “MAMUKA KHAZARADZE DOES NOT EXCLUDE DETENTION”

    January 15, 2020 - Mamuka Khazaradze, founder of Anaklia Development Consortium and leader of opposition public movement Lelo, said that he is ready to the scenario of detention.

    “We have calculated this scenario too”, Khazaradze declared on air of TV company Mtavari Arkhi (Main Channel).


    NETGAZETI.GE: “INFRASTRUCTURE MINISTRY EXCLUDES RESTORATION OF AGREEMENT WITH “ANAKLIA CONSORTIUM””

    January 15, 2020 - Georgian Ministry of Regional Development and Infrastructure declared that agreement with Anaklia Development Consortium, signed on October 3, 2016, will not be prolonged any more. “The contractual relations are terminated with observance of all legal grounds and norms”, the Ministry stressed.


    BANKEBI DA FINANSEBI: “LOCAL BUSINESSMEN HAVE TO BE IN THE SAME CONDITIONS, AS FOREIGN INVESTORS – WITH RESPECT AND CORRECT BUREAUCRATIC DECISIONS”

    January 14, 2020 - Temur Chkonia, founder of Coca-Cola Bottlers Georgia, indicates in his interview to the newspaper that “Upon conversation on investments, we’ve been forgetting one important issue – local investors”.

    “Relations have to be established, local businessmen have to be maximally satisfied, we have to facilitate them that they appear exactly in the same conditions, as foreign investors – with respect and correct bureaucratic decisions”, declares Chkonia.


    TABULA: “GERMANY HANDED OVER 8 WATER CARRIERS AND 4 CONTAINER CARRIERS TO GEORGIAN ARMY”

    January 13, 2020 - Within the initiative of capacity building and strengthening of the army, Germany allocated grant of 1.5 million EUR to Georgia, Tabula reports.

    At the expense of this sum, 12 new vehicles were acquired.


    TABULA: “RUDD: THE US STILL CONSIDERS THAT THE ANAKLIA PROJECT HAS STRATEGIC IMPORTANCE FOR GEORGIA”

    January 13, 2020 - Elisabeth Rudd, acting the US ambassador in Georgia, made a comment on termination by Georgian government of the investment agreement with Anaklia Development Consortium, Tabula reports.

    Rudd indicated that “The US still considers that the project of Anaklia Consortium has strategic importance for Georgia and we welcome the American investments in this project” (translation of Rustavi-2 TV company).


macroeconomics & budget

    BANKEBI DA FINANSEBI: “RURAL RESIDENTS, WHO REAP HARVEST FOR OWN CONSUMPTION AND NOT FOR COMMERCIAL PURPOSES, WILL NOT BE CONSIDERED AS OCCUPIED ANYMORE”

    January 16, 2020 - From the 3rd quarter of this year, Sakstat will collect employment/unemployment data by the new methodology.

    Gogita Todradze, executive director of Sakstat, specified that during first two quarters of the year, data collection will be carried out by both new and old methodologies, while in two last quarters – by new methodology only.


    REZONANSI: “CHANCE OF STRENGTHENING OF LARI DECREASED – FINANCIERS CHANGED THE FORECAST, THE GOVERNMENT IS SILENT”

    January 15, 2020 - TBC Research, research unit of Georgia’s biggest TBC Bank, forecasts that inflation in the country will return to its target (3%) in the second half of 2020. At that, researchers expect strengthening of lari in 2020.


    BANKEBI DA FINANSEBI: “OTAR NADARAIA – ECONOMY AND FOREIGN DIRECT INVESTMENTS WILL GROW IN 2020 BY ABOUT 5%”

    January 14, 2020 - Otar Nadaraia, chief economist of TBC Group, declared that “according to the final scenario, in comparison with 2019, we have planned growth by about 5%” in 2020.

    “This forecast envisages assumption that such large megaprojects as Anaklia port and NenskraHES could be not implemented”, Nadaraia said.


energy, oil & gas

    BANKEBI DA FINANSEBI: “DAVID NARMANIA EXPLAINS REASONS OF DOUBLING IN PRICE OF CONNECTION OF NEW CONSUMERS OF NATURAL GAS”

    January 16, 2020 - David Narmania, chairman of Georgian National Energy and Water Supply Regulating Commission, declared that “Since January, cost of connection of new consumers of natural gas has changed and became 800 lari instead of 400 lari”. “That concerns only self-governed cities, such as Tbilisi, Kutaisi, Poti, Rustavi and Batumi”, he notes (respectively, the matter concerns subscribers of Tbilisi Energy and SOCAR Georgia Gas).


companies

    BANKEBI DA FINANSEBI: “VASIL KHODELI IS APPOINTED AS DIRECTOR GENERAL OF “LIBERTY BANK””

    January 14, 2020 - Since 2020, office of director general of Liberty Bank will be occupied by Vasil Khodeli, the newspaper reports.

    The article notes that Khodeli works in Georgian banking system for 20 years.


    TABULA: “CLOTHES OF “MARKS&SPENCER” WILL BE SEWED BY “IMERI” GARMENT FACTORY, EXISTING IN KUTAISI”

    January 13, 2020 - Referring to Produce in Georgia Agency, Tabula reports that clothes for the British brand Marks&Spencer will be sewed by Kutaisi-based garment factory Imeri. Imeri is beneficiary of industrial direction of the Agency.


international cooperation

    BANKEBI DA FINANSEBI: “IN CONDITIONS OF EXISTING ECONOMIC POLICY, DYNAMICS OF EXPORT TO THE EU IS ON SATISFACTORY LEVEL”

    January 13, 2020 - Pace of mastering of the EU market is low (since September 1, 2014, the free trade agreement between Georgia and the EU (DCFTA) became effective), the article specifies.

    “However, at this stage, taking into account productivity of Georgian economy, results could be estimated as satisfactory”, considers author of the article, analyst at Young Financiers and Businessmen Association Bachana Jincharadze.


ecology & health

    NETGAZETI.GE: “SERGEENKO: PATIENTS DID NOT SUFFER BECAUSE OF EXPIRY OF DRUGS FOR HEPATITIS C”

    January 16, 2020 - Georgian State Audit Service reported that medicines worth 560.65 million lari have expired within the program of elimination of hepatitis C in the country.

    David Sergeenko, former minister of healthcare, indicates that Georgia receives these medicines free of charge, and no patient suffered because of their expiry.


agriculture & food

    REZONANSI: “BREAD SURVIVED RISE IN PRICE”

    January 15, 2020 - It is unknown, what Georgia’s grain reserves are today, but Grain Producers Association declares that neither wheat deficit is expected, nor increase in prices, the newspaper says.

    At the end of 2019, about 30,000 t of high-quality American wheat was delivered by sea to Georgia.


construction

    BANKEBI DA FINANSEBI: “DEVELOPERS COMPLAIN AGAIN – MYTHS AND REALITY OF THE CONSTRUCTION SECTOR”

    January 17, 2020 - Developers criticized new banking regulations because of considerable blow, which “qualified crediting framework” would struck to construction business, the newspaper says.

    Though, in a year after the regulations’ enactment in the country, it became clear from official data of National Bank of Georgia that problem did not arise at the construction sector, the article indicates.


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