Economic Press Monitor April 12 - 18, 2020	Days:  04 11 18 25 02

economic & politics

TABULA: “BAKRADZE: WITHOUT CONCRETE ECONOMIC PLAN, WE WILL NOT SUPPORT EXTENSION OF STATE OF EMERGENCY”

April 16, 2020 - David Bakradze, one of leaders of oppositional European Georgia, considers that state of emergency (which was introduced in Georgia until April 21, but the government plans its extension until May 10) surely has to be accompanied with the concrete plan of assistance to population, Tabula reports.

Without such plan and assistance, “continuation of restrictions, caused by state of emergency, will just destroy economy and will put people in the hardest condition”, Bakradze declares.




BANKEBI DA FINANSEBI: “MAMUKA KHAZARADZE – VERY SUCCESSFUL BUSINESSES WILL REMAIN WITHOUT CAPITAL IN TWO MONTHS”

April 15, 2020 - Mamuka Khazaradze, founder of Georgia’s largest TBC Bank and leader of oppositional political association Lelo for Georgia, warned that “very successful businesses will remain without capital in 2 months”.

“Then the only source, and you know, where there this source can be, there will be an offer and it will not be the banking interest-free credit”, Khazaradze declared on air of program Sakme (Business) of FM radio Palitra and TV channel PalitraNews.




TABULA: “BAKRADZE TO THE GOVERNMENT: GIVE THOSE, REMAINED UNEMPLOYED, COMPENSATION OF 50% OF SALARY”

April 15, 2020 - David Bakradze, one of leaders of oppositional European Georgia, urges Georgian government to give all, who left unemployed because of COVID-19 pandemic, a compensation of 50% of a salary.

Bakradze notes that “hundreds of thousands of people, locked in houses in the conditions of state of emergency, will not be paid for April and maintenance of family is the hardest problem for them”.




TABULA: ““EDISON RESEARCH”: FOOD MONEY OF 45% OF POPULATION WILL BE ENOUGH FOR LESS THAN ONE MONTH”

April 13, 2020 - Survey, conducted by Edison Research, shows that money, which 45% of Georgian population have in hands, will be enough for feeding them during less than 1 month, Tabula reports.

Money of 40% will be enough for the period from 1 to 3 months.




TABULA: ““EDISON RESEARCH”: 97% CONSIDER THAT AUTHORITIES HAVE TO LOWER TAXES FOR ASSISTANCE TO ECONOMY”

April 13, 2020 - Survey, conducted by Edison Research, shows that 97% of respondents consider that Georgian authorities have to promote economy through decrease of taxes, Tabula reports.

According to 96%, payment of taxes has to be postponed until end of COVID-19 pandemic.

macroeconomics & budget

BANKEBI DA FINANSEBI: “150 LARI, CERTAINLY, IS INSUFFICIENT, THIS IS LESS, THAN LIVING WAGE IN THE COUNTRY”

April 16, 2020 - “The citizens, who became unemployed, will receive over 150 lari as assistance”, Georgia’s Prime Minister Giorgi Gakharia declared.

According to the Premier, “150 lari, certainly, are insufficient, this is less, than a living wage in the country”.




TABULA: “AGENCY FOR IDPS’ ISSUES WILL ISSUE ONE-TIME MONETARY ALLOWANCE TO 1,500 IDPS”

April 16, 2020 - Agency for IDPs’ Issues, subordinated to Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection, will provide monetary allowance to 1,500 IDPs, Tabula reports. Besides, the Agency will cover accommodation cost for 141 IDPs.




BANKEBI DA FINANSEBI: “FOR SEWING OF MEDICAL MASKS, GEORGIA ACQUIRED 2M METERS OF GAUZE WORTH $274,000 FROM UZBEKISTAN”

April 16, 2020 - Purchase of 2 million m of gauze in Uzbekistan cost Georgia $274,000, the Georgian news agency InterPressNews reports.

The agency learned about acquisition of gauze for production of medical masks in Georgia from Zurab Abdushelishvili, Georgia’s ambassador in Uzbekistan.




TABULA: “FINANCE MINISTER: THE GOVERNMENT WILL RELEASE DETAILS OF COMPENSATION PACKAGE IN THE NEXT FEW DAYS”

April 15, 2020 - Georgia’s Finance Minister Ivane Machavariani said that “the government will release details of the compensation package in the next few days”.

“The matter concerns several vulnerable groups, which will have various types of compensation”, the Minister specified.




BANKEBI DA FINANSEBI: “IRAKLI KOVZANADZE – WE THINK, WE WILL HAVE ECONOMIC DROP OF 4-5%”

April 14, 2020 - “Together with our international financial partners, we think that the country will enter an economic recession”, chairman of Georgian Parliament’s Fiscal Committee Irakli Kovzanadze declared.

According to Kovzanadze, “not only we will have no growth, which was planned in the budget at 4.5%, but we will have negative [growth] within 4-5%”.




TABULA: “IMF: GEORGIAN GOVERNMENT WILL PAY MONTHLY PER 150 LARI TO CITIZENS, WHO BECAME JOBLESS”

April 14, 2020 - To citizens of the country, who lost their jobs because of COVID-19 pandemic, Georgian government will pay per 150 lari monthly during 6 months, Tabula reports with reference to the IMF.

As the article indicates, the Georgian government will make the statement on this subject on April 14.

companies

FORBES GEORGIA: “VITAL PRODUCTION FOR VITAL PROJECTS – PANDEMIC AND CEMENT PRODUCTION IN GEORGIA”

April 15, 2020 - Merab Chikhradze, one of founders of Lafarge/GCC, points in an interview to the magazine that against the background of universal quarantine, introduced in Georgia because of COVID-19 pandemic, production of cement and concrete was not suspended in the country. The government made the correct decision – not to extend a quarantine to large infrastructure projects, he declares.




TABULA: “WHY “SUPTA SAKHLI” WAS CLOSED AND WHAT DESTINY EXPECTS 1,200 PEOPLE OCCUPIED IN THE COMPANY”

April 14, 2020 - Chain of household chemicals retail shops Supta Sakhli (Clean House) was closed that created danger to jobs of 1,200 people, Tabula reports. At this stage, the company is forbidden also to trade online.

ecology & health

TABULA: “AMBASSADOR DEGNAN: THE US WILL HANDOVER 2,000 RAPID TESTS TO GEORGIA”

April 14, 2020 - Kelly Degnan, the US ambassador in Georgia, declared that the US will provide Georgia with “2,000 kits of high quality rapid test, which can establish presence of the virus in several hours”. Besides, $1.1 million are also allocated for Georgia’s healthcare needs, she said.

finances & banking

FORBES GEORGIA: “BANK “CREDO” AND THE NETHERLANDS DEVELOPMENT BANK (FMO) SIGNED CREDIT AGREEMENT OF 30M LARI”

April 13, 2020 - Georgian bank Credo and the Netherlands development bank (FMO) signed credit agreement of 30 million lari, the magazine reports.

As the article notes, the 5-year agreement aims support of micro, small and medium business, operating in Georgian agricultural sector, as well as young businessmen in overcoming problems, caused by COVID-19 outbreak.

agriculture & food

BANKEBI DA FINANSEBI: “SUBSIDIZING OF MILK POWDER PUT PRODUCERS OF RAW MILK IN NONCOMPETITIVE CONDITIONS”

April 13, 2020 - Levan Arkania, executive director of Georgian Milk Producers Association, indicates that state subsidizing of price of milk powder encouraged demand for this product.

Dairy companies prefer imported milk powder, which price is less than one of local raw milk, Arkania declared on air of Business Partner program of Public Broadcaster.