Economic Press Monitor March 15 - 21, 2020	Days:  07 14 21 28 04

economic & politics

NETGAZETI.GE: “RULES OF CARGO TRUCKS ENTRY ARE TOUGHENED ON THE BORDER”

March 20, 2020 - Because of coronavirus pandemic, Georgian customs checkpoints toughen control concerning foreigners, driving cargo trucks, which during the last 14 days were in the high-risk countries, Netgazeti.Ge reports. The list of such countries includes China, South Korea, Italy, Iran, Austria, France, Germany, Spain, Switzerland, Norway, Denmark.




REZONANSI: “FLIGHTS BETWEEN GEORGIA AND TURKEY ARE STOPPED, MOVEMENT ON LAND FRONTIER IS LIMITED”

March 20, 2020 - Because of coronavirus pandemic, flights between Georgia and Turkey are suspended since March 20, the newspaper reports. As the article notes, restrictions act already for several days on land frontier.




FORBES GEORGIA: “NATIONAL PECULIARITIES OF INTERNET TASTE: GEORGIA AND THE WORLD”

March 19, 2020 - Out of 50 most popular websites in Georgia, 23 ones are international.

For example, by popularity of the online trade website Ebay.com Georgia is outstripped only by 25 out of 132 countries.




TABULA: “THEORETICAL AND PRACTICAL EXAMS FOR DRIVING LICENSE ARE CANCELLED”

March 19, 2020 - Referring to statement of Georgian Interior Ministry, Tabula reports that theoretical and practical examinations for obtaining of driving license are cancelled, starting

from March 20, in the whole country. The decision is made as measure against spread of coronavirus.




BANKEBI DA FINANSEBI: “NATIA TURNAVA – EMPHASIS WILL BE PLACED ON MANUFACTURING IN GEORGIA OF THAT PRODUCTION, WHICH ENJOYS HIGH DEMAND”

March 19, 2020 - “We must carry out localization of production as much as possible and develop own production, especially import-substituting production”, Georgia’s Minister of Economy and Sustainable Development Natia Turnava declares.

“We will place emphasis exactly on those branches, their development or revival, where we see existence of highest demand today”, the Minister points.




TABULA: “IN AJARA, MARKETS AND SHOPPING CENTERS ARE CLOSED UNTIL APRIL 1”

March 18, 2020 - Referring to Public Broadcaster Ajara, Tabula reports that Ajara government decided to close until April 1 all markets and shopping centers in the autonomy.

As the article notes, the measure is taken for prevention of coronavirus spread.




NETGAZETI.GE: “I DOUBT THAT WE WILL BE ABLE TO RESTORE FULLY EDUCATIONAL PROCESS BY APRIL 26 – GAKHARIA”

March 18, 2020 - Georgia’s Prime Minister Giorgi Gakharia points that because of coronavirus pandemic, educational process in educational institutions of the country is postponed for more than 2 weeks. “I doubt that we will be able to restore fully educational process by April 26, but such hope remains”, he declared on air of Rustavi-2 TV company.




BANKEBI DA FINANSEBI: “GAKHARIA: GEORGIAN PRODUCERS WILL LAUNCH SOON PRODUCTION OF MEDICAL MASKS AND DEFICIT WILL BE SETTLED”

March 18, 2020 - There is certain deficit of individual protection means in Georgia, the country’s Prime Minister Giorgi Gakharia declared on air of Rustavi-2 TV company. “We face a certain problem, probably, for one or two weeks”, he said, though added: “We will fill this deficiency by means of import”.




FORBES GEORGIA: “CRITICAL 2020”

March 16, 2020 - In the article, Giorgi Pertaia, president of Georgian Chamber of Commerce and Industry (GCCI) since July 2019, says that 2020 will be quite important, even critical, for GCCI.

Pertaia reports that total rebranding of GCCI is underway at this stage and in near future, businessmen will be able to receive all the services in online mode by means of new web site of the Chamber.

macroeconomics & budget

FORBES GEORGIA: “LARGEST STATE PROCUREMENT OF LAST YEAR”

March 20, 2020 - Georgia spends annually over 4 billion lari for state procurements, the magazine reports. In 2019, the largest state procurement was carried out by special penitentiary service – 73.1 million lari.




TABULA: “LARI DEPRECIATED AGAINST DOLLAR BY 9.97 TETRI, AGAINST EURO – BY 10.3 TETRI”

March 19, 2020 - Following results of forex trades on March 18, National Bank of Georgia has set official rate of lari, making up 3.1808 GEL/USD and 3.4997 GEL/EUR.

Depreciation of Georgian national currency against the US dollar made up 9.97 tetri, against euro – 10.3 tetri, Tabula reports.




BANKEBI DA FINANSEBI: “CORONAVIRUS’ IMPACT ON ECONOMY, REGARDLESS OF ITS DEVELOPMENT SCENARIO, NEVERTHELESS WILL BE SHORT-TERM SHOCK”

March 18, 2020 - Otar Nadaraia, chief economist of TBC Bank, indicates that initial forecast of Georgia’s economic growth for 2020 made up 5%, however was decreased later to 4.5% because of uncertainty, connected with parliamentary elections in October. In this respect, one may say, the risk decreased to some extent, as the government and opposition reached an agreement on the model of elections, he specifies.




BANKEBI DA FINANSEBI: “HOW MUCH WILL IT BE POSSIBLE TO CONSTRAIN PRICES AGAINST THE BACKGROUND OF CORONAVIRUS”

March 17, 2020 - Georgian government presented the anti-crisis plan, however “it did not help in any way national currency, which lost positions by 23 points on average in a week”, points author of the article (Paata Bayrakhtari, vice-president of Georgian Young Financiers and Businessmen Association).

As one of factors of lari devaluation, the author sees transfer through so-called expectation channel.




TABULA: “KAPANADZE: SUSPENSION OF PENSION CONTRIBUTIONS ALLOW TO SAVE THE SUM OF ABOUT 300M LARI”

March 17, 2020 - Oppositional European Georgia addressed the Georgian government with initiative to suspend the program of the Pension Fund for 8 months.

Representative of the party Sergi Kapanadze says that this initiative will allow to save about 300 million lari.

transport & communications

BANKEBI DA FINANSEBI: “MYTH OR REALITY – IN TERMS OF LOW COST OF MOBILE INTERNET, GEORGIA IS ON THE 71^ST PLACE AMONG 230 COUNTRIES”

March 16, 2020 - Referring to cable.co.uk, the newspaper reports that in terms of low cost of mobile internet access, Georgia occupies the 71^st place among 230 countries.

According to the report, 1 Gb of mobile traffic in Georgia can be got for 80 tetri, while cost of the most expensive package reaches 50 lari.

ecology & health

REZONANSI: “CITIZENS STARTED TO STOCK DRUGS – IS THERE A DEFICIT IN DRUGSTORES?”

March 17, 2020 - Against the background of growth of confirmed coronavirus cases in Georgia, citizens of the country started not only panic purchases of food, but also stockpile medicines, the newspaper points.

Irina Chelidze, head of Pharmaceutical Companies Association, declares that large pharmacy chains have stocks for 3-6 months and not expect any problem from suppliers too.

tourism

BANKEBI DA FINANSEBI: “BY WHAT SCENARIO ECONOMY IN THE WORLD AND IN GEORGIA WILL DEVELOP AS A RESULT OF COVID-19 THREAT”

March 20, 2020 - Doctor of economics Nika Shengelia indicates that because of coronavirus pandemic, Georgian economy will have to exist for a certain period in autonomous mode.

In the next year, we will have a boom of domestic tourism that will do good for economy, Shengelia forecasts.




TABULA: ““ALL BOOKINGS FOR THE NEXT 3 MONTHS ARE CANCELLED” – CORONAVIRUS’ IMPACT ON THE TOURISM SECTOR”

March 16, 2020 - Representatives of Georgian travel agencies declare that because of coronavirus pandemic, their customers cancelled all visits, planned for March-May. The article brings comments of Global Georgia Tour, Tegeta Travel and Discover Georgia.