Economic Press Monitor December 13 - 19, 2020	Days:  05 12 19 26 02

economic & politics

FORBES GEORGIA: “HOW MANY MILLION LARI ELECTION CAMPAIGNS COST”

December 15, 2020 - Parties, which won over 1% of votes Georgian parliamentary elections of October 31, spent during pre-election period 39.9 million lari in total, the magazine reports with reference to information, provided by parties to Georgian State Audit Service.

In particular, ruling Georgian Dream spent 18.8 million lari, i.e. 47% of total volume.




KVIRIS PALITRA: “WHAT HAMPERS INFLOW OF INVESTMENTS TO GEORGIA?”

December 14, 2020 - The newspaper indicates that foreign direct investments in Georgia are chronically reduced for the last 3 years. On this subject, the article brings comment of the ex-Minister of Economics of Georgia Giorgi Kobulia.




BANKEBI DA FINANSEBI: “EXCEPT “CITIZENS” AND “GIRCHI”, BUDGETARY FINANCING WILL BE RECEIVED BY ALL PARTIES, WHICH PASSED THE BARRIER”

December 14, 2020 - Following results of parliamentary elections of October 31, 14 parties became so-called qualified recipients of state financing.

However, according to the decision of Georgian Central Election Commission (CEC), financing will be received by 12 parties, the newspaper reports.

macroeconomics & budget

BANKEBI DA FINANSEBI: “ECONOMY SUNK IN DEBTS – GEORGIA’S FOREIGN DEBT IS ON HISTORICAL HIGH”

December 14, 2020 - In 2021, Georgia’s foreign debt will exceed 60% of GDP (upper limit, set by organic law “On Economic Freedom”). At the same time, State Audit Service warns that “in case of next shock of lari exchange rate, there is high probability that the mark of public debt will unexpectedly grow up to 72% of GDP”.

energy, oil & gas

REZONANSI: “WHETHER ELECTRIC POWER HAS TO RISE IN PRICE? – OPINIONS OF POWER ENGINEERS SHARED IN TWO”

December 15, 2020 - Georgian National Energy and Water Supply Regulating Commission has to establish tariffs for 2021-2023 until end of the current year (current tariffs act until December 31, 2020) for companies of energy distribution and water supply (TELASI, EnergoPro Georgia, GWP). In this connection, the article brings opposite opinions of power engineers Temur Chichinadze and Gia Arabidze.

companies

TABULA: “TURNAVA: SINCE FEBRUARY, WE WILL CANCEL ALL RESTRICTIONS ON INTERNATIONAL FLIGHTS”

December 15, 2020 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, said that Georgian government plans to lift since February all restrictions on international flights. Also, airports of Kutaisi and Batumi should be expanded.




NETGAZETI.GE: ““THESE OBJECTS WILL GO BANKRUPT” – TRADE MALLS DEMAND PERMISSION TO BE OPEN IN DECEMBER”

December 15, 2020 - Levan Karalashvili, director of Tbilisi Central shopping center, points that in December, objects of retail trade generated 25% of own turnover. “We had a desire to continue self-preservation in December, otherwise many brands can leave Georgia in the first half of 2021”, he says.




FORBES GEORGIA: ““MOODY’S” UPGRADED RATING OF “SAKARTVELOS BANKI””

December 14, 2020 - Moody’s Investors Service upgraded by one step rating of deposits, denominated in foreign currency, of Sakartvelos Banki (Bank of Georgia) – from “Ba3” to “Ba2”, the newspaper reports. The outlook remains “stable”.