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Economic Press Monitor

November 17 - 23, 2019

Previous Issues:  Days: < 09 16 23 30 07 > 

 

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economic & politics

    BANKEBI DA FINANSEBI: “ECONOMIC PROBLEMS, HIDDEN IN RATINGS”

    November 22, 2019 - Paata Bayrakhtari, vice-president of Georgian Young Financiers and Businessmen Association, indicates that against the background of improved international ratings, investments in Georgia are decreasing year by year. In particular, reduction of investments’ volume is observed during last 5 years.


    TABULA: “GVENETADZE: SITUATION, EXISTING IN THE COUNTRY, WILL NEGATIVELY AFFECT LARI”

    November 21, 2019 - Koba Gvenetadze, president of National Bank of Georgia (NBG), indicates that situation, existing in the country, could negatively affect lari, Tabula reports.

    “In general, political unity well affects usually economic situation, as well as lari exchange rate and inflation”, Gvenetadze declares.


    NETGAZETI.GE: “EU AMBASSADOR: APPARENTLY, VOTING IN THE PARLIAMENT WAS IN FAVOR OF POLARIZATION”

    November 21, 2019 - Commenting on a failure of the bill on transition to fully proportional electoral system in Georgian Parliament, the EU ambassador Carl Hartzell expresses regrets concerning such result “because of the existing political context and the arisen expectations”.

    As Hartzell points, “Apparently, voting in the Parliament was not against proportional system, but in favor of polarization”.


    FORBES GEORGIA: “BIDZINA IVANISHVILI, OR SEVEN YEARS OF LIE AND DECEPTION…”

    November 19, 2019 - Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream, ex-prime minister of Georgia) “deceived Georgians, deceived international community, but that is more important and dangerous, he deceived own party and own government, hiding own true plans from them”, Fady Asly, founder of Channel Georgia Consulting and chairman of Georgian national committee of International Chamber of Commerce (ICC Georgia) writes.

    Asly estimates that Ivanishvili “for years instructed the government to support and lobby his publicly declared political steps, but at the same time he constantly undermined the same steps by means of his shadow cabinet”.


    REZONANSI: “BUSINESS IS ALREADY SCARED – POLITICAL CHAOS UNDERMINES NATIONAL ECONOMY”

    November 19, 2019 - Project actions create next problems for Georgian economics, and already have been reflected in change of lari exchange rate, the newspaper says.

    The article brings comments of businessmen Vano Goglidze and Lasha Papashvili, economist Soso Simonishvili and financier Merab Janiashvili.


    TABULA: “ACCORDING TO IRI SURVEY, GEORGIAN CHURCH IS NOT ON THE FIRST PLACE ANY MORE IN THE RATING OF INSTITUTIONS”

    November 19, 2019 - Referring to new survey of International Republican Institute (IRI), Tabula reports that 85% of respondents positively answered question: “How do you like work of the Church”.

    In April, this indicator made up 89% and the population most positively assessed activity exactly of this institution, Tabula specifies.


    TABULA: “IRI: NUMBER OF THOSE, WHO CONSIDER THAT THE COUNTRY DEVELOPS IN THE WRONG DIRECTION, INCREASED – 68%”

    November 19, 2019 - Referring to new survey of International Republican Institute (IRI), Tabula reports that 68% of Georgian population consider that Georgia develops in the wrong direction. Whereas, the previous survey, conducted in May-June (before protest actions, erupted because of emergence of Russian deputy Sergey Gavrilov in chair of Georgian Parliament’s speaker), showed 66%.


    TABULA: “IRI: MOST OF ALL – 52% NAME THE MAIN POLITICAL PARTNER THE US, 50% – THE EU”

    November 19, 2019 - Referring to new survey of International Republican Institute (IRI), Tabula reports that 52% of Georgian population consider the US the most important political partner of Georgia, while 50% indicate the EU.

    At that, 33% name the US the most important economic partner, while 37% – the EU.


    KVIRIS PALITRA: “ELITE CORRUPTION IS INVIOLABLE”

    November 18, 2019 - Georgian Interior Ministry reported that during January-September, 65 facts of state office abuse were revealed, increasing in number by 12.7% year-on-year. However, taking into account facts of bribe-taking, official negligence, etc., cases of officials’ offences in 9 months has decreased in number by 12.21%, the article notes.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “UNEMPLOYMENT RATE IS AT HISTORICAL MINIMUM – REALITY, EXISTING BEHIND FIGURES”

    November 22, 2019 - Referring to Sakstat, the newspaper reports that Georgia’s unemployment rate in the 3rd quarter has decreased year-on-year by 1.1 percentage points and made up 11.1% that is the lowest historical indicator.

    However, such decrease of unemployment is caused in fact by reduction of economically active population, the article points.


    TABULA: “ADMINISTRATION ON ANTIQUES: THROUGHOUT HISTORY OF INDEPENDENCE, THE COUNTRY FOR THE FIRST TIME WAS ABLE TO CONDUCT SUCH PROCUREMENT”

    November 20, 2019 - Referring to research of Institute for Development of Freedom of Information (IDFI), Tabula reports that the budget allocated 2.17 million lari for acquisition of antiques for residence of Georgian President on Atoneli Street in Tbilisi.

    Of total, 1.2 million lari was spent for antique furniture, 255,000 lari – for its restoration, while 720,225 lari – for modern furniture.


    REZONANSI: “IN A SINGLE DAY, GEORGIA “BECAME RICHER” BY 3.5B LARI”

    November 18, 2019 - As a result of transition to new methodology of system of national accounts (SNA 2008), Sakstat has updated its estimation, indicating that Georgia’s economy amounted in 2018 to 44.6 billion lari, exceeding by 8.5% the previous indicator (41.1 billion lari). As a result, GDP growth rate in 2018 made up 4.8%, but not 4.7%.


    BANKEBI DA FINANSEBI: “TO CURB EFFECT OF EXTERNAL SHOCKS, YOU ARE FORCED “TO SPOIL” THE RATE, WHILE “SPOILED RATE” IN THE END PUTS PRESSURE UPON INFLATION AGAIN”

    November 18, 2019 - Mikhail Chkuaseli, the Finance Minister under presidency of Eduard Shevardnadze, estimates that the policy of inflation targeting (at 3%) “was helpless in neutralization of factors, affecting inflation”. “As a result, we received much deviated indicator”, he points.


energy, oil & gas

    REZONANSI: “TOTAL DECEPTION ON LIQUEFIED GAS MARKET”

    November 22, 2019 - Georgian LPG (liquefied petroleum gas) filling stations deceive both the state and consumers, the newspaper states.

    As the article indicates, realization of LPG has sharply increased recently and currently, this type of fuel is used in the country by over 7,000 cars, while respective service is provided by up to 200 filling stations.


companies

    BANKEBI DA FINANSEBI: ““DELTA” WILL RESTORE MACHINERY OF STRATEGIC IMPORTANCE AT AIRCRAFT FACTORY”

    November 22, 2019 - In this year, Delta (Georgian state center of military research and technology) and TAM (Tbilaviamsheni, Tbilisi aviation plant) concluded agreement on use of movable property, the newspaper reports.

    Under this agreement, Delta gets an opportunity to repair and put in operation the damaged machinery, located until 2010 on the territory of Tbilisi aviation factory.


ecology & health

    BANKEBI DA FINANSEBI: ““TARIFF REFORM OF HEALTHCARE IS CONDUCTED IN FAVOR OF “EVEX”” – WHETHER THE SOIL IS PREPARED FOR MONOPOLIZATION OF HOSPITAL MARKET”

    November 20, 2019 - Georgian clinics, involved in the state program of universal healthcare, demand delay for 6 months of unified tariff system, which introduction was announced by the authorities. 25 clinics addressed the authorities with the open letter, however still no answer is received from any state department, the newspaper notes.


agriculture & food

    BANKEBI DA FINANSEBI: “GEORGIA IS GOING TO TAKE WORTHY PLACE ON THE WORLD MAP OF OLIVES”

    November 20, 2019 - At the end of this month, Georgia will become member of the International Olive Council, while will become chairman country of this organization in the next year, the newspaper reports.

    According to Giorgi Svanidze, founder of Georgian Olives company, this international organization regards Georgia as the third hub of olives in Europe.


construction

    FORBES GEORGIA: “THE CITY OF “WHITE SAILS” IN BATUMI”

    November 21, 2019 - The magazine notes that construction and real estate market is one of the most quickly developing industries in Georgia, and 11.1% of the issued construction licenses account for Ajara.

    Company AR Meridians builds in Batumi the complex White Sails, which should be put in operation in January 2020, the magazine reports.


    FORBES GEORGIA: “SYMMETRIC ADVANTAGE”

    November 21, 2019 - Since 2011, development company Symmetry has invested 221 million lari, while its portfolio includes 10 ongoing and completed projects, the magazine reports.

    Symmetry is member of Capitol Group, founded in 2006, which is engaged mainly in attraction and management of investments.


    NETGAZETI.GE: “NEW PROJECT OF “GURU HOLDING” IN BATUMI – MODERN HOUSE FOR MODERN PEOPLE”

    November 20, 2019 - On November 16, Guru Holding held presentation of the project of multifunctional residential estate, Netgazeti.Ge reports. The 29-storey complex, having area of 30,000 square m, will be located in Batumi, in the New Boulevard.


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