Economic Press Monitor September 15 - 21, 2019	Days:  07 14 21 28 05

economic & politics

FORBES GEORGIA: “BY LABOR QUALIFICATION, GEORGIA IS ON THE 70^TH PLACE IN THE WORLD”

September 20, 2019 - In its rating of labor qualification, the World Economic Forum (WEF) places Georgia on the 70^th place among 140 countries of the world, the magazine reports. Georgia’s scoring makes up 5.3 (the best score – 7).




BANKEBI DA FINANSEBI: “THEA TSULUKIANI – OVER 37,000 PEOPLE ARE EXEMPTED FROM VERY BIG FINANCIAL BURDEN”

September 20, 2019 - Georgian Justice Ministry declared that penalties of 23.54 million lari will be written off for citizens. The decision applies to persons, who committed administrative offenses before January 15 of this year, the newspaper reports.




FORBES GEORGIA: “COUNCIL OF INVESTORS HAS TWO NEW MEMBERS”

September 18, 2019 - German business association and Georgian-Turkish business association joined Georgian Council of Investors, the magazine reports.

As the article notes, 6 business associations applied for membership in the Council, but consent was received by the mentioned 2.




TABULA: “DISSATISFIED POPULATION LAYS THE RESPONSIBILITY ON THE GOVERNMENT – BRIEF RESULTS OF NDI SURVEY”

September 18, 2019 - Referring to results of new survey, conducted in Georgia by National Democratic Institute (NDI), Tabula points that evaluation of course of the country’s development is on the lowest mark for the last 11 years.

The article reports that less than fifth part of Georgian population considers that the country develops in the right direction.




BANKEBI DA FINANSEBI: “WHAT IS THE FOOT LENGTH OF “MERIDIAN CAPITAL LIMITED”, WHICH THE MINISTER OF INFRASTRUCTURE REJECTED TO KHAZARADZE”

September 17, 2019 - British investment fund Meridian Capital Limited (founded in 2002, head office is in Hong Kong) was assumed to be the largest investor of deep-water port Anaklia, the newspaper reports. Investment portfolio of this company covers territories of the US, China, Russia, Europe and Southeast Asia.




BANKEBI DA FINANSEBI: “VASIL SOPROMADZE – I CONFIRM THAT THERE IS PRESSURE UPON BUSINESS”

September 17, 2019 - “I confirm that there is pressure upon business”, businessman Vasil Sopromadze (chain of retail stores Fresco) posted in social network.

This way Sopromadze has responded to the statement of Georgia’s Finance Minister Ivane Machavariani about free business environment in Georgia.




BANKEBI DA FINANSEBI: “I LIVE IN GEORGIA FOR THE LAST 45 YEARS AND DECLARE WITH FULL RESPONSIBILITY THAT BUSINESS ENVIRONMENT NEVER WAS SUCH FREE”

September 16, 2019 - “With full responsibility I declare that business environment never was such free”, Georgia’s Finance Minister Ivane Machavariani claims. I live in Georgia for the last 45 years, am for over 20 years in business and for the last year – in public service, he notes.




TABULA: “KHAZARADZE TELLS THAT HE HAD “SKIRMISH” WITH GAKHARIA BECAUSE OF ANAKLIA PORT”

September 16, 2019 - In “Main Accents” program of Mtavari Arkhi (Main Channel, broadcasting company, created by former director of Rustavi-2 TV company Nika Gvaramia), founder of Georgia’s largest TBC Bank Mamuka Khazaradze recalled 2017, when because of the Anaklia port project (implemented by TBC Holding), he had a conflict with then Economy Minister Giorgi Gakharia.

According to Khazaradze, Gakharia insisted that EBRD will never finance this project.

macroeconomics & budget

TABULA: ““TBC RESEARCH”: WITHIN 12 MONTHS, EXPORT INCREASED BY 13%, TRADE DEFICIT DECREASED”

September 19, 2019 - Referring to TBC Research, Tabula reports that Georgia’s export increased for the last 12 months by 12.4% (though the heading indicates 13%). At that, current negative trade balance decreased and as of August, made up 12.5%.




FORBES GEORGIA: ““TBC”: IF LARI DOES NOT BECOME STRONGER, INFLATION WILL MAKE UP ABOUT 7% BY THE END OF THE YEAR”

September 16, 2019 - TBC Research forecasts that “In case, effective exchange rate of lari does not become stronger, inflation will make up about 7% by the end of the year”. Taking inflation pressure upon the rate into account, National Bank of Georgia (NBG) toughened monetary policy, analysts specify.

energy, oil & gas

FORBES GEORGIA: “NEW OWNER OF WIND STATION SHOULD PAY CREDIT OF $17.5M TO EBRD”

September 19, 2019 - Construction of Kartli wind power plant cost $29.7 million, while the government sells it now at public auction for $14.25 million, the magazine says.

The article reminds that upon construction, $22 million were attracted as credit from EBRD.




FORBES GEORGIA: “KARTLI WIND POWER PLANT IS ON SALE – STARTING PRICE MAKES UP $14.2M”

September 18, 2019 - Georgia Energy Development Fund and Georgian Oil and Gas Corporation announced public tender for selling of 100% in LLC Kartli Wind Power Plant, the magazine reports. Starting price makes up $14.25 million (in lari equivalent).

transport & communications

FORBES GEORGIA: “EBRD CONSIDERS ALLOCATION OF 50M EUR TO TBILISI”

September 20, 2019 - EBRD considers allocation of credit of 50 million EUR for Tbilisi, the magazine reports. Funds will be allocated within the “Green City” concept.




BANKEBI DA FINANSEBI: “FINANCE MINISTRY BEGINS NEGOTIATIONS WITH DONORS FOR IMPLEMENTATION OF THE PROJECT OF TBILISI URBAN RAILWAY”

September 17, 2019 - Georgia’s Finance Minister Ivane Machavariani declares that negotiations will be started with donors, aiming implementation of the project of Tbilisi urban railway. The matter concerns EBRD and European Investment Bank (EIB).

ecology & health

TABULA: “THE US GOVERNMENT ALLOCATED $700,000 FOR CREATION OF CHILDREN ONCOLOGY CENTER IN TBILISI”

September 19, 2019 - Referring to the US embassy, Tabula reports that the US Administration allocated $700,000 for creation of new pediatric hematology-oncology center in Tbilisi.

As the article notes, the donation is given to American organization Global Healing and Tbilisi-based Jo Ann Medical Center.

finances & banking

TABULA: “KOBA GVENETADZE: WE WORK ON SIMPLIFICATION OF BANKING REGULATIONS”

September 18, 2019 - “We work on even more simplification of regulations, in order they were more clear”, president of National Bank of Georgia Koba Gvenetadze declares. “We also work that if there is any bureaucratic freight in this part, to remove it”, he notes.

tourism

TABULA: “BECAUSE OF REDUCED TOURISM FROM IRAN, GEORGIA LOST 260 MILLION LARI IN 2019”

September 20, 2019 - In 8 months of this year, Georgia was visited by 91,858 Iranians that is by 60% less than in the same period of last year, Tabula reports.

As Tabula notes, Iranian tourists in Georgia are distinguished with high expenses.




FORBES GEORGIA: “BY TOURISTS’ GROWTH RATE, GEORGIA IS ON THE 12^TH PLACE IN THE WORLD AND ON 4^TH – IN EUROPE”

September 17, 2019 - Referring to the UN World Tourism Organization (UNWTO), the magazine reports that according to growth rate of tourists’ number, Georgia in 2018 was on the 12^th place among 54 countries of the world and on the 4^th place in the region of Europe.

In the reporting year, Georgia was visited by 4.76 million tourists (year-on-year growth – 16.9%).




FORBES GEORGIA: “IN AUGUST, RECORD-BREAKING NUMBER OF FOREIGN VISITORS ARRIVED TO GEORGIA”

September 16, 2019 - Referring to data of Georgian Interior Ministry, the magazine reports that in August, 1.25 million visitors, including 657,278 tourists, arrived to the country. If compared with the same period of 2018, number of visitors has increased by 5.8%, while of tourists – by 2%.