Economic Press Monitor October 14 - 20, 2018	Days:  06 13 20 27 03

economic & politics

NETGAZETI.GE: “GEORGIAN SIDE DID NOT NOTIFY ON RECORDS IN PATARKATSISHVILI’S CASE – BRITISH POLICE”

October 19, 2018 - Netgazeti.Ge publishes information of OC Media, according to which Georgian side did not notify British colleagues about records, discovered in 2016 within investigation of case on alleged preparation of murder of billionaire Badri Patarkatsishvili (Patarkatsishvili died in London on February 12, 2008). OC Media reports on the mentioned, referring to police of Great Britain (which established that the billionaire died of heart attack).




TABULA: “KOBULIA: THIS POLITICAL CRISIS IS NOT A CRISIS IN FACT, THE REASON IS NEED OF THE PEOPLE”

October 19, 2018 - Minister of Economy and Sustainable Development Giorgi Kobulia considers that “our political crises, is not a crisis in fact”. “The major reason of it, a fundamental problem is need of our people”, he declares.




FORBES GEORGIA: “GEORGIA WENT DOWN IN SOCIAL PROGRESS INDEX”

October 19, 2018 - In Social Progress Index of 2018, Georgia occupies the 54^th place among 146 countries against the 53^rd place last year, the magazine reports. The article notes that the ranking degrade happened despite of improved score of the country – 71.14 against of 70.80 from 100 possible.




FORBES GEORGIA: “WHY GEORGIA’S POSITION IN FINANCIAL STABILITY INDEX HAS WORSENED”

October 18, 2018 - In the Global Competitiveness Index of the World Economic Forum, Georgia occupies the 88^th place (among 140 countries) in pillar of Financial System, the magazine reports. The article points that in this pillar, Georgia’s position has worsened in comparison with previous year by 25 steps.




TABULA: “EXPERT OF “2030” AND DONOR OF “DREAM” IS APPOINTED THE EXECUTIVE DIRECTOR OF NBG”

October 16, 2018 - Vakhtang Burkiashvili, former consultant of 20/30 (economic program of GDS broadcasting company, established by Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream), is appointed the executive director of National Bank of Georgia (NBG), Tabula reports.

Burkiashvili will replace Giorgi Melashvili, who resigns in order to move to private sector.




KVIRIS PALITRA: “THE ONLY WAY REMAINS TO AUTHORITY – EARLY PARLIAMENTARY ELECTIONS, AS SOON AS POSSIBLE”

October 15, 2018 - While commenting on case of Omega Group in an interview to the newspaper, politics expert Vakhtang Dzabiradze declares that he has reasonable suspicions that Zaza Okuashvili (founder of the Group) himself acted illegally too. Hidden records, published by Okuashvili, show that participants of recorded conversations tried to conclude the bargain for write-off of the Croup’s tax arrears, he says.




KVIRIS PALITRA: “PARTSKHALADZE’S “CONFESSION” – THE PROSECUTOR ACCUSED OF PREDATORY THEFT…”

October 15, 2018 - Lawyer of former main prosecutor Otar Partskhaladze named as income source of his client the plant of composite parts of planes, which did not start operation so far.

The authorities has no suspicions even when Georgian Partnership Fund, which participates in this plant together with Israeli Elbit Cyclone, categorically denied Partskhaladze’s connection with this project, the article says.

macroeconomics & budget

BANKEBI DA FINANSEBI: “NOTHING ALLOWS US TO SAY THAT LARI WILL INEVITABLY OR ESSENTIALLY DEPRECIATE”

October 18, 2018 - Georgia’s Deputy Finance Minister Giorgi Kakauridze assures that “economic policy really does not cause devaluation of lari”.

“All fundamental factors, affecting exchange rate, do not allow us to say that we have to have any different expectations, i.e. that there are risks of any depreciation”, Kakauridze declares.




FORBES GEORGIA: “18 “INCOMPLETE” INVESTMENT PROJECTS”

October 17, 2018 - The magazine reports that the draft budget-2019 increases financing of those 18 investment projects, which are completed by less than 50%, as of 8 months of this year.

The article points that among these projects are such ones, which did not consume funds at all either in 2017, or in 2018.




FORBES GEORGIA: “AUTUMN EXAM OF LARI”

October 16, 2018 - In August, lari depreciated during a week from 2.45 GEL/USD to 2.63 GEL/USD, which reason was named devaluation of Turkish lira and conversations about development of economic crisis in Turkey (key trade partner of Georgia), the magazine reminds.

However, the stir, caused by devaluation of Turkish lira, has calmed down, and lira has strengthened in September by 7%, while lari exchange rate has stopped near 2.6 GEL/USD, the article specifies and adds: it seems that there was something else occurred.




NETGAZETI.GE: ““SAKSTAT”: IN 2017, LESS MIGRANTS LEFT GEORGIA IN COMPARISON WITH PREVIOUS YEAR”

October 16, 2018 - Referring to Sakstat, Netgazeti.Ge reports that 85,451 people emigrated from Georgia in 2017, including 47,770 men and 37,681 women, while in 2016 – 98,288 people (55,255 men and 43,033 women).

As the article notes, biggest part of emigrants both in 2017 and in 2016 was from age group of 25-29 years.

companies

NETGAZETI.GE: “IN EXCHANGE FOR WHAT RECEIVED “BITFURY” FOR 1 LARI THE LAND, ESTIMATED AT 1.8M – “IFACT””

October 18, 2018 - Netgazeti.Ge publishes the agreement, signed by Georgian Ministry of Economy and Sustainable Development with administrator of Tbilisi Free Industrial Zone, BitFury, which was obtained by iFact (group of investigative journalists).

The article notes that journalists had demanded this document from the Ministry during 2 years.




FORBES GEORGIA: “IN NEXT 5 YEARS, GOGC EXPECTS GROWTH OF INCOME TO BILLION”

October 15, 2018 - Georgian Oil and Gas Corporation (GOGC, 100% belong to Georgian Partnership Fund), expects by 2023 growth of the income to 1.34 billion lari, the magazine reports with reference to investment company Galt&Taggart.

Among grounds of the forecast, the article indicates project of underground gas storage, business diversification, TANAP project, etc.

transport & communications

FORBES GEORGIA: “BAKU-TBILISI-KARS CAN COMPETE WITH THE NORTHERN ROUTE”

October 16, 2018 - Baku-Tbilisi-Kars railway route, which is mentioned sometimes as “Silk Railway”, can become a leader of rail transportation in Georgia, the article states.

In order the project could be considered successful, 4 million t of freights have to be transported annually on this section, which is not so easy business against the background of general reduction of freight turnover, the article points.

ecology & health

BANKEBI DA FINANSEBI: “EASED REGULATIONS – WHAT AMENDMENTS ARE MADE IN LAW ON TOBACCO”

October 19, 2018 - The newspaper reports about amendments to be made to law “On Tobacco Control”. Respective draft was considered in first hearing by the Parliament’s Committee on Healthcare and Social Issues.

finances & banking

FORBES GEORGIA: “JOINT STATEMENT OF BUSINESS ASSOCIATIONS ON REGULATIONS, ANNOUNCED BY NBG”

October 18, 2018 - The magazine publishes unedited text of statement, released by Georgian business associations in connection with regulations, announced by National Bank of Georgia (NBG).

The statement is signed by 11 organizations, including Georgian Banks Association, Georgian Business Association, International Chamber of Commerce in Georgia (ICC Georgia), the EU-Georgia Business Council, etc.




REZONANSI: “WHO WILL NOT BE ELIGIBLE TO GET CREDITS SINCE NOVEMBER 1”

October 17, 2018 - Since November 1, credits will not be available to those Georgians, who have not present their family member, who already has taken credit, as co-borrower, or whose solvency is not analyzed, the newspaper reports.

Aleksandre Dzneladze, representative of Georgian Banks Association, declares that as a result, “changes are expected on the market in various directions”.

construction

BANKEBI DA FINANSEBI: “INCOMPLETE RENOVATION – “SHERATON GRAND TBILISI METECHI PALACE” WILL NO LONGER OPENED THIS YEAR”

October 17, 2018 - Renovation of Tbilisi hotel Sheraton Grand Tbilisi Metechi Palace, which was started in December 2014, had to be completed in this September.

However, now, opening of 5-star hotel, owned by Arab sheikhs from Ras Al Khaimah emirate, is planned on March 1, 2019, the newspaper reports.




FORBES GEORGIA: “223 PLANNED PROJECTS – BRANDED HOTELS, WHICH WILL BE OPENED IN GEORGIA”

October 17, 2018 - Referring to Georgian National Tourism Administration, the magazine reports that there are over 2,300 accommodation facilities in the country, big part of which (457) is located in Tbilisi.

Since the beginning of the current year, 105 hotels with total of 2,772 rooms were opened in Georgia, the magazine specifies.