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Economic Press Monitor

October 16 - 22, 2022

Previous Issues:  Days: < 08 15 22 29 05 > 

 

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economic & politics

    REZONANSI: “WITH WHICH STATES NEGOTIATIONS ON VISA-FREE TRAVEL FOR GEORGIAN CITIZENS ARE UNDERWAY”

    October 21, 2022 - Georgia’s Foreign Minister Ilia Darchiashvili declared that internal procedures are being carried out in connection with the agreements on visa-free travel with Ireland, Peru, the Philippines, Honduras and Bolivia. He announced this in the Georgian Parliament, speaking as part of the “Minister’s Hour”.


    TABULA: “ZELENSKYY SIGNED [ORDER ON] IMPOSITION OF SANCTIONS AGAINST IVANISHVILI’S RELATIVES”

    October 21, 2022 - Among those 256 persons, sanctioned by Ukrainian authorities, 4 are citizens of Georgia, who have ties with Bidzina Ivanishvili (billionaire founder of the ruling Georgian Dream).

    Namely, the following Georgians are sanctioned: Alexander Ivanishvili (brother of Bidzina Ivanishvili), Ucha Mamatsashvili (cousin of Bidzina Ivanishvili) and his son Tate Mamatsashvili, and Ketevan Kharaidze, Tabula reports.


    BANKEBI DA FINANSEBI: “KHAZARADZE – 100 THOUSAND GEORGIANS HAVE LEFT THE COUNTRY, I DON’T WANT TO SEE “GEORGIA WITHOUT GEORGIANS” – I CALL ON THE BUSINESS: LETS CREATE A UNIFIED EMPLOYMENT PLATFORM”

    October 20, 2022 - Mamuka Khazaradze, founder of TBC Bank and chairman of the opposition movement Lelo, calls on the Georgian business to create a unified employment platform for citizens of the country. It is also necessary to support the ideas of young people and create a special fund for startups, he believes.


    REZONANSI: “BECAUSE OF ARRIVAL AND EMPLOYMENT OF FOREIGNERS, GEORGIA WILL FIND ITSELF IN A DIFFICULT DEMOGRAPHIC SITUATION”

    October 20, 2022 - “After a time, there will be a shortage of labor force in almost all sectors in Georgia”, states Shota Burjanadze, head of Georgian Restaurateurs Association. Filling this deficit will be carried out at the expense of foreign labor force, he says, pointing that “Suspension of the trend of inviting foreign employees is excluded, and it will definitely continue”.


    BANKEBI DA FINANSEBI: “FINANCE MINISTER – TODAY THERE IS NO NEED TO REVISE THE VISA REGIME WITH RUSSIA”

    October 18, 2022 - Georgia’s Finance Minister Lasha Khutsishvili declared that “the visa regime is one of the control mechanisms”, while the control mechanisms, existing in Georgia today, “fully meet the challenges that the country has”. Accordingly, at this stage, “personally, I do not see” the need to revise the visa regime with Russia, he told journalists.


    BANKEBI DA FINANSEBI: “REMOVAL OF RAILINGS AND FAILURE OF EMERGENCY SHUT DOWN SYSTEM CAUSED THE TRAGEDY – FOUNDER OF “TBILISIS SHADREVNEBI””

    October 17, 2022 - Irakli Zhvania, sculptor and founder of the company Tbilisis Shadrevnebi (Tbilisi Fountains), indicates that the fountain in the capital’s Vake Park “historically had a railing around it”. “In no case the protective railings around the fountain had to be removed, leaving the fountain open for splashing, as the City Hall did”, he posted on Facebook.


    TABULA: “GIGASHVILI: I TOUCHED WATER IN THE TURNED ON FOUNTAIN, THERE WAS NO PROBLEM”

    October 17, 2022 - Giga Gigashvili, head of environmental protection service at Tbilisi City Hall, assures that the fountain in the Vake Park was regularly checked, and “there was no problem in terms of operation”.

    Gigashvili said that he touched the water with his hand when the fountain was turned on, but “there was no problem and no current in this particular territory”.


macroeconomics & budget

    FORBES GEORGIA: “IN TERMS OF ECONOMIC GROWTH, GEORGIA RANKS 9TH IN THE WORLD”

    October 19, 2022 - IMF reported that in terms of economic growth rate in 2022, Georgia ranks 9th among 192 countries of the world.

    On October 11, IMF projected Georgia’s economic growth in 2022 at 9%.


    NETGAZETI.GE: “FROM NOVEMBER 1, DRG FUNDING MODEL TO BE LAUNCHED IN MEDICAL INSTITUTIONS”

    October 18, 2022 - From November 1, a new model of funding according to Diagnosis-Related Groups (DRG) will be enacted in medical institutions of Georgia. A grace period will last until January 1, 2023.


conflict and court

    NETGAZETI.GE: ““GREENSERVICE” DIRECTOR LASHA PURTSKHVANIDZE AND 8 OTHER PERSONS DETAINED”

    October 19, 2022 - Lasha Purtskhvanidze, director of GreenService+, which carried out rehabilitation of the fountain in the capital’s Vake Park, has been detained, as well as 8 other persons, including the deputy head of the city environmental protection service. The Interior Ministry does not exclude that the circle of accused may expand further.


companies

    TABULA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, TROUT FARMING EXPANDED IN GORI”

    October 19, 2022 - Trout farming has been expanded in the village of Ortasheni (Gori municipality of Shida Kartli region). Total cost of the project makes up 1 million lari, of which 250,000 lari was allocated by Sakartvelos Banki (Bank of Georgia).


    FORBES GEORGIA: “WITH SUPPORT OF “SAKARTVELOS BANKI”, THE LARGEST FESTIVAL OF DEVELOPERS “DEVFEST” TO BE HELD IN KUTAISI”

    October 19, 2022 - In partnership with Sakartvelos Banki (Bank of Georgia), Kutaisi State University will host developers’ festival “DevFest” on October 29, the magazine reports.

    The magazine notes that developer groups of Google are holding this event worldwide.


    BANKEBI DA FINANSEBI: “IN ORDER TO INCREASE AVAILABILITY OF FINANCES FOR GEORGIAN ENTREPRENEURS, “TBC”, DFC AND USAID SIGNED A $30M GUARANTEE AGREEMENT”

    October 18, 2022 - TBC Bank, USAID and the US International Development Finance Corporation (DFC) signed a $30 million guarantee agreement.

    Under the agreement, TBC Bank will support local micro, small and medium-sized businesses.


    NETGAZETI.GE: “OWNERS OF STAKES IN VAKE PARK FOUNTAIN CONTRACTOR COMPANY HAVE BEEN ACCUSED OF MONEY LAUNDERING IN THE PAST”

    October 17, 2022 - In September 2021, Tbilisi City Hall announced a tender for rehabilitation of fountains and cascade in the Vake Park. The estimated cost made up 13.4 million lari.


agriculture & food

    BANKEBI DA FINANSEBI: “FLOURMILLS ARE THREATENED WITH A HALT – SUPPOSEDLY, THERE WILL BE FLOUR IMPORT AGAIN”

    October 21, 2022 - Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, noted that prices have decreased over the past 2 months due to a good wheat harvest in Russia (Georgia’s main supplier of wheat).

    Silagava pointed that both wheat and flour fell in price then, and Georgian flourmills resumed operation.


    BATUMELEBI: “52T OF CHICKEN MEAT IMPORTED TO GEORGIA WERE EXTERMINATED – REVENUE SERVICE”

    October 20, 2022 - Georgian Revenue Service reported that 52 t of frozen chicken meat, imported to Georgia from Poland, were exterminated.

    The Service explained that laboratory inspection has revealed non-compliance of the meat with sanitary standards.


    REZONANSI: “IN 2-3 DAYS, WHEAT WILL RISE IN PRICE, THE COUNTRY WILL REMAIN AGAIN IN THE HOPE OF FLOUR IMPORT”

    October 18, 2022 - As Russia has increased the wheat export duty from October 19, it could not be excluded that wheat import from Russia to Georgia will face problems again, the newspaper says.

    Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, declared that for balancing, it is necessary to introduce a tax for wheat import in Georgia, mirroring the floating duty in Russia.


    REZONANSI: “SUGAR HAS DISAPPEARED FROM SHELVES AGAIN – BY CREATING ARTIFICIAL SHORTAGE, THEY ARE WARMING THEIR HANDS FOR THE THIRD TIME THIS YEAR”

    October 17, 2022 - Some time ago, importers were talking about the expected decrease of sugar price, but unexpectedly, this product turned out in short supply again, the newspaper indicates.

    In March, sugar shortage suddenly erupted in Georgia, and the price jumped then from 2.35 lari to 5 lari per 1 kg.


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