Economic Press Monitor May 12 - 18, 2019	Days:  04 11 18 25 01

economic & politics

BANKEBI DA FINANSEBI: “FORMER HEAD OF IVANISHVILI’S TELEVISION IS APPOINTED AS DIRECTOR IN “IMEDI””

May 17, 2019 - The newspaper reports that Eldar Mdinaradze replaced Giorgi Kalandarishvili on a post of director of TV company Imedi.

As the article notes, Mdinaradze in the end of 1990-ies was one of heads of Metskhre Arkhi (Ninth Channel) – broadcasting company, belonging to Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream).




TABULA: “KOBULIA: PROBABLY, I HAD EXCESSIVELY PRINCIPLED STAND IN SOME QUESTIONS”

May 16, 2019 - “Probably, I had excessively principled stand in some questions”, Georgia’s ex-minister of economy and sustainable development Giorgi Kobulia declared, while speaking in the Parliament on May 15.

According to Kobulia, “from the very beginning it had to be clear that I do not support such decisions, which are fundamentally unacceptable”.




TABULA: “KOBULIA: I HAD NEGOTIATIONS ON INFORMAL RULES OF GAME BEFORE I WAS APPOINTED”

May 16, 2019 - Georgia’s ex-minister of economy and sustainable development Giorgi Kobulia said that he has “very good perception” of Georgian reality. “Believe me, I understand better than many, what informal rules of game can exist”, he declared.




NETGAZETI.GE: ““DREAM” IS ACCUSED OF VOTERS’ BRIBERY IN ZUGDIDI, IN THE PARTY IT IS CALLED “LIE””

May 14, 2019 - Representative of opposition National Movement Levan Khabeishvili insists that in Zugdidi (where elections of mayor have to be held soon), high ranks of the Interior Ministry, Financial Police and municipal cleaning service intimidate employees, take away their identity cards or try to bribe voters. Ruling Georgian Dream “is in panic, because they lose elections in Zugdidi”, he declares.




KVIRIS PALITRA: “GEORGIAN AUTHORITY HAS DEFICIENCY OF DETERMINATION!”

May 13, 2019 - Expert Ramaz Sakvarelidze considers that “Georgian authority has deficiency of determination”.

“The authority of Georgian Dream rejected rigid management style of National Movement, however did not define until now, how to govern”, the expert declares.

macroeconomics & budget

TABULA: “KOBULIA: GROWTH OF 5% IS SATISFACTORY, BUT WE HAVE TWICE BIGGER POTENTIAL”

May 16, 2019 - Georgia’s ex-minister of economy and sustainable development Giorgi Kobulia considers that Georgia’s GDP growth of 5% is satisfactory in comparison with the region. “Regarding consideration that our economy is collapsed, I cannot agree with it”, he declares.




TABULA: “FOR THE MOMENT, ACCUMULATIVE PENSION SYSTEM WAS LEFT BY 38,000 PEOPLE”

May 13, 2019 - Out of 771,000 people, included in accumulative pension system (enacted in Georgia this year), 38,000 have already left it, Tabula reports with reference to the Pension Agency. According to the article, majority of the left are representatives of the private sector.

energy, oil & gas

FORBES GEORGIA: “FROM EXPORTING TO IMPORTING”

May 15, 2019 - In 2018, Georgia paid $75 million for imported electric power of 1.5 billion kWh, the magazine reports. As the article notes, that import made up 12% of last year’s total energy consumption.




FORBES GEORGIA: “ENERGY INDEPENDENCE IS EQUIVALENT TO INDEPENDENCE OF GEORGIA”

May 14, 2019 - The magazine publishes considerations of Giorgi Abramishvili, director of Georgian Association of Renewable Energy Development, in support of construction of hydroelectric stations.

As Abramishvili notes, as far back as 1980-ies negative public attitude to hydroelectric stations was created thanks to active propaganda.

conflict and court

TABULA: ““GEORGIAN MANGANESE”: PROCESSES, BEING UNDERWAY IN CHIATURA TODAY, ARE GUIDED BY EXTERNAL FORCES”

May 17, 2019 - Processes, being underway currently in Chiatura, “are guided by external forces and aim use of workers during intermediate elections in Chiatura”, Georgian Manganese declares.

As the company says, miners received promise of working conditions’ revision, however they changed requirements and went on strike anyway.




NETGAZETI.GE: “WORKERS OF RUSTAVI STEEL WORKS CONTINUE STRIKE”

May 17, 2019 - Up to 100 workers of Rustavi steel works went on strike on May 16, Netgazeti.Ge reports.

As the article notes, workers have two main demands – growth of salaries and transition from 3-shift system on 4-shift.




REZONANSI: “WARNING: 100M ARE STOLEN FROM BANK ACCOUNTS – THE CASE WAS HEADED BY GEORGIAN CITIZENS”

May 17, 2019 - Starting from 2015, two Georgian citizens and their adherents have stolen $100 million from 41,000 bank accounts worldwide, the newspaper reports with reference to the US court. Leaders of criminal group, Alexander Konovalov and Marat Kazanjyan, live in Tbilisi, in Varketili district.




FORBES GEORGIA: ““BITFURY GROUP” MAKES URGENT STATEMENT”

May 13, 2019 - The magazine publishes statement of Efrem Urumashvili, representative of BitFury Group, who denies information, which broadcasting company Rustavi-2 distributed with reference to presa.ge.

BitFury Group “has no and never had any sort of direct or indirect link with any sort of business activity on territory of the occupied Abkhazia”, Urumashvili claims.

companies

BANKEBI DA FINANSEBI: ““ADJARA GROUP” PLANS TO QUIT GAMBLING BUSINESS”

May 15, 2019 - Valery Chekheria, director general of Adjara Group Hospitality, declared that the group plans to quit gambling business. He made this statement in Forbes Week program of Rustavi-2 broadcasting company.




REZONANSI: “UPON HEALTH INSURANCE, MISTAKES ARE INADMISSIBLE”

May 15, 2019 - TBC Insurance brought health insurance product on the market, the newspaper reports.

As the company notes, the product reckons upon small, medium and large businesses.




TABULA: “ELECTRIC VEHICLES’ BATTERY CHARGERS FROM GEORGIA – THE COMPANY OF STUDENTS OF AGRICULTURAL UNIVERSITY”

May 14, 2019 - Tabula reports that 4 students of Agricultural University founded company Weber Technologies, which manufactures designed in Georgia “smart” battery chargers for electric vehicles.

According to the article, the startup offers battery chargers of 3 types.




FORBES GEORGIA: “FORGET ABOUT HIERARCHICAL MANAGEMENT! – “AGILE” TRANSFORMATION STARTED IN “TBC””

May 14, 2019 - TBC Bank declared about Agile transformation, which was preceded by 6-month preparatory period, the magazine reports.

As a result of the transformation, departments, services and units are cancelled in the bank, being replaced by teams, leagues, legions and knowledge centers, the article specifies.

finances & banking

BANKEBI DA FINANSEBI: “KOBA GVENETADZE – WE HAVE MUCH SOFTER BANK REGULATION, THAN IN OTHER COUNTRIES”

May 15, 2019 - “If to compare to other countries that regulation, which acts in Georgia, it is quite soft”, president of National Bank of Georgia Koba Gvenetadze assures. “In majority of other countries, so-called informal income is not considered”, while it is allowed in Georgia, he specifies.

construction

FORBES GEORGIA: “REGULATION EFFECT”

May 13, 2019 - There is no problem of excessive indebtedness in development sector, considers author of the article (head of Developers Association Irakli Rostomashvili). Referring to research of TBC Capital, he specifies that so-called “spoiled credits” in the sector make up less than 1%.

tourism

FORBES GEORGIA: “889 LARI PER VISIT – SUM, SPENT BY TOURISTS IN GEORGIA, DECREASED”

May 16, 2019 - Referring to Sakstat, the magazine reports that tourists in Georgia spent in the 1^st quarter on average 889.7 lari per visit that is by 16.1% less than in the same period of previous year. In total, expenses of tourists in the country amounted to 1.2 billion lari, decreasing by 15.2% year-on-year.