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Economic Press Monitor

April 15 - 21, 2018

Previous Issues:  Days: < 07 14 21 28 05 > 

 

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economic & politics

    FORBES GEORGIA: “IN INDEX OF PERCEPTION OF CORRUPTION RISKS, GEORGIA IS ON THE 25TH PLACE IN THE WORLD”

    April 20, 2018 - In TRACE Bribery Perception Matrix, published by TRACE International, Georgia occupies the 25th place (23 points) among 200 countries of the world, the magazine reports.

    The article indicates that in 2016, Georgia occupied the 13th place with 28 points, while in 2014 – the 11th place with 27 points (the lower rating score is, the lower risk is).


    BANKEBI DA FINANSEBI: “WHAT PERCENT OF EMPLOYED TBILISI RESIDENTS BEGINS WORK BY KNOWING THE RIGHT PEOPLE”

    April 20, 2018 - Referring to research of ACT (Analysis and Consultancy Team), the newspaper reports that 55% of employed residents of Tbilisi began work by using their personal connections.

    The second most popular way is search of vacancies on the Internet (12%).


    NETGAZETI.GE: “THE GOVERNMENT WISHES TO CARRY OUT NATIONAL INVENTORY OF GEORGIA’S FORESTS”

    April 18, 2018 - Georgian government plans to carry out the national inventory of forests with financial support of Germany, Netgazeti.Ge reports. The draft of corresponding amendments to Forest Code is already registered in the Parliament.


    NETGAZETI.GE: “MAMUKA BAKHTADZE OFFERS MEETING TO DEPUTIES OF THE PARLIAMENT”

    April 16, 2018 - In interview to TV company Imedi, Finance Minister Mamuka Bakhtadze offered a meeting to deputies of the Parliament. “Next week, I want to come in the Parliament, to meet representatives of ruling team, as well to opposition” and “to talk about those reforms, which we plan to carry out”, he declared.


macroeconomics & budget

    FORBES GEORGIA: “ACCORDING TO INCOME OF POPULATION, GEORGIA IS ON THE 108TH PLACE IN THE WORLD”

    April 20, 2018 - Referring to the IMF, the magazine reports that in 2017, Georgia’s income per capita, calculated according to parity of purchasing power (PPP), amounted to $10,747.

    In terms of this indicator, Georgia occupies the 108th place among 190 countries of the world (the same as in 2016 ($10,053)).


    TABULA: “MAINTENANCE OF THE GOVERNMENT’S OFFICE STOCK IN 2017 COST TAXPAYERS 179,006,000 LARI”

    April 19, 2018 - Referring to the Finance Ministry, Tabula reports that maintenance of office stock of the government cost in 2017 to Georgian taxpayers 179 million lari.

    As the article notes, maintenance of printers, chairs and other office stock of the government in comparison with 2016 became more expensive by 1 million lari.


    FORBES GEORGIA: “IN TERMS OF ECONOMIC GROWTH RATE, GEORGIA IS ON THE 44TH PLACE IN THE WORLD”

    April 19, 2018 - According to the IMF, Georgia’s economy in 2017 increased by 4.8% and the country occupied in this term the 44th place in the world.

    The IMF forecasts that Georgia’s economy in 2018 will grow by 4.5%, while in 2019-2020 – by 4.8-5%.


    FORBES GEORGIA: “IMF ESTIMATES NEW INITIATIVES OF THE GOVERNMENT”

    April 18, 2018 - Mercedes Vera-Martin, head of the IMF mission, points: “Crediting in Georgia promotes development of economy and its activity”, but “availability of finance for small businessmen remains a problem”. “The companies indicate that this is an obstacle for business growth”, she declares.


energy, oil & gas

    REZONANSI: “WHOLE ENERGY SECTOR SUBMITS TO THE MONOPOLIST COMPANIES”

    April 17, 2018 - In Georgia, natural monopolies exist in sectors of gas, electric power and partially water supply.

    Gocha Shonia, member of National Energy and Water Supply Regulating Commission, declares that “existence of many companies on the market is not a panacea”.


conflict and court

    NETGAZETI.GE: “WHAT DO SAY WORKERS, WHO CAME BY FOOT FROM AGARA TO TBILISI AND SPEND NIGHT IN TENTS”

    April 20, 2018 - Workers, who organized a protest march from Agara to Tbilisi, spent night of April 19 in tents in Digomi forest park, Netgazeti.Ge reports. On April 20, the workers will hold protest action in front of the government office building.


ecology & health

    TABULA: “INTERIOR MINISTRY: WE DESTROYED DRUGS WORTH 4M LARI IN THE HIGH-TEMPERATURE FURNACE”

    April 19, 2018 - The Interior Ministry declared that it has “destroyed according to modern standards” more than 400 kg of drugs. The matter concerns various drugs, removed within 800 criminal cases.


    NETGAZETI.GE: “NEXT PROTEST AGAINST “RMG” – NOW FOR SAVE OF TANDZIA”

    April 18, 2018 - Population of Tandzia village opposes arrangement of an open pit for gold mining and construction of the road by RMG company. During last week, local residents have blocked the road and do allow machinery of the company to pass, Netgazeti.Ge reports.


finances & banking

    BANKEBI DA FINANSEBI: “GIORGI SHAGIDZE: LACK OF AVAILABILITY OF FINANCE IS NOT FAULT OF BANKS”

    April 17, 2018 - Financial director of TBC Bank Giorgi Shagidze declares that “the banking sector is a leader of economy in all directions today”, while “lack of availability of finance is not fault of banks”. “Banking credits make up 55% of economy”, he specifies.


    REZONANSI: “THERE IS DICTATION OF BANKS AND MICROFINANCIAL ORGANIZATIONS IN THE COUNTRY”

    April 17, 2018 - “There is dictation of banks and microfinancial organizations in the country”, the newspaper states.

    Analyst Merab Janiashvili considers that customers have to become more protected.


    KVIRIS PALITRA: “SOON, ONLY BANKS AND USURERS WILL REMAIN”

    April 16, 2018 - Irakli Berdzenadze, head of Non-Banking Financial Institutions Association, points that after National Bank of Georgia (NBG) toughened regulation for online crediting organizations, about 60% of these organizations left the market.

    According to CreditInfo Georgia (credit bureau), 46 online crediting organizations used their service in 2016, while in 2017 – only 22.


    TABULA: “BAKHTADZE: BANKS FOIST CREDITS TO POPULATION, DOOMED TO BANKRUPTCY”

    April 16, 2018 - “Banks are focusing on foisting credits to the population doomed to bankruptcy”, Finance Minister Mamuka Bakhtadze declares. “Exactly, this time the situation is created, when the banking system is not an economy-developing force, but a brake”, he points.


construction

    TABULA: “THERE IS STILL EMPTINESS ON PLACE OF HOTEL WORTH $60M, PLEDGED DURING ELECTIONS”

    April 16, 2018 - During parliamentary elections of 2016, Bidzina Ivanishvili (billionaire ex-premier of Georgia) announced about construction of hotel in Anaklia, Ganmukhuri, with participation of his Co-Investment Fund.

    As the article says, no construction is underway for now on this territory, works are not even launched.


tourism

    FORBES GEORGIA: “GEORGIA WILL NOT GROW RICH THROUGH TOURISM”

    April 19, 2018 - Development of tourism is very important for Georgia, which is poor in natural resources and which industrial development level is low, but we should have no excessive expectations that only tourism will enrich us, the magazine states.

    According to the World Bank, from 2006 to 2016 (data for 2017 are not published yet), Georgia occupies the 3rd place in the world in terms of growth rate of visitors’ number.


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