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Economic Press Monitor

June 17 - 23, 2018

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

 

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economic & politics

    BANKEBI DA FINANSEBI: “BAKHTADZE PUTS FORWARD INITIATIVE OF NEW CUSTOMS AND TAX CODE CREATION THROUGH INCLUSIVENESS OF PRIVATE SECTOR”

    June 22, 2018 - While speaking in the Parliament as nominee Premier Minister, Mamuka Bakhtadze put forward an initiative of creation of new Customs and Tax Code.

    “Our Tax and Customs Code, which does not answer any more those challenges and those expectations which exist today in our public, it is outdated”, Bakhtadze declared.


    REZONANSI: “EVEN 11 MINISTRIES COULD BE REDUCED FURTHER”

    June 22, 2018 - It is already known that the final decision on reduction of ministries’ number and redistribution of their functions has to be submitted to the Parliament on June 28, the newspaper reports. It is known also that neither staff, nor costs will be cut this year, the article points.


    TABULA: ““TI”: IF NOT AMNESTY, BAKHTADZE HAD TO BE FINED FOR ILLEGAL DONATION”

    June 21, 2018 - On August 2, 2012, current nominee Premier Mamuka Bakhtadze donated 20,000 lari to then ruling United National Movement. However, while speaking in the Parliament on June 20, Bakhtadze declared that this donation was not made from his pocket, but his account “was technically used”.


    BANKEBI DA FINANSEBI: “I THINK, WE HAVE POTENTIAL OF EXPORT OF MILITARY-INDUSTRIAL COMPLEX”

    June 21, 2018 - “The government will pay special attention to development and adoption of “total defense” concept, formation of military reserve, which pilot project will be launched this year”, nominee Premier Mamuka Bakhtadze declared, while speaking in the Parliament on June 20.

    Bakhtadze pointed that attention will be also paid to exporting capacity building of military-industrial complex.


    FORBES GEORGIA: “MAMUKA BAKHTADZE: WE WILL USE BLOCKCHAIN TECHNOLOGY IN TAXES’ ADMINISTRATION”

    June 21, 2018 - “All taxes, except VAT, will be developed on blockchain technology”, nominee Premier Mamuka Bakhtadze declared, speaking in the Parliament on June 20.

    “We have to take as reference those countries, which managed and carried out digital revolution”, Bakhtadze pointed.


    TABULA: “BAKHTADZE CONFIRMS THAT HE WAS DIRECTOR OF COMPANY OF “CENTER POINT”, BUT WAS NOT CALLED TO INTERROGATION”

    June 20, 2018 - At the meeting of nominee Premier Mamuka Bakhtadze with the parliamentary minority, MP from European Georgia Irma Nadirashvili asked him why his official biography lacks mentioning of the fact that he was director of Center Point Invest+, Tabula reports.

    Bakhtadze replied that he really worked in this company, as well as in hotel chain Rcheuli, but did not concretize, why he did not mention this in the biography, Tabula notes.


    NETGAZETI.GE: “TRANSNATIONAL COMPANIES COULD BE EXEMPTED FROM TAXES – BAKHTADZE”

    June 20, 2018 - Mamuka Bakhtadze, nominated as the Prime Minister, declared that transnational companies, which will open regional offices in Georgia, could be exempted from taxes. He said this, while speaking on June 19 in the Parliament.


    BANKEBI DA FINANSEBI: “EXISTING ECONOMIC MODEL HAD UNFAIR RULES OF THE GAME, WHICH FACILITATED NOT OVERCOMING POVERTY IN GEORGIA”

    June 20, 2018 - Nominee Premier Mamuka Bakhtadze declared that “there were unfair rules of the game in the existing economic model, which facilitated not overcoming poverty in Georgia”. These rules “promoted not development by our economy of its strengths”, he pointed.


    TABULA: “MAMUKA BAKHTADZE: SMALL GOVERNMENT MEANS ALSO CERTAIN MINISTRIES’ MERGER”

    June 18, 2018 - Mamuka Bakhtadze, candidate for the Prime Minister’s office, stated: “We need small government, what certainly means also merger of certain departments”.

    Ministries in Georgia were already reduced in number in the end of 2017, Tabula notes, pointing that this reduction was not followed then by considerable reduction of the budgetary expenses.


    KVIRIS PALITRA: “ECONOMY OF INSUPERABLE POVERTY?”

    June 18, 2018 - Official reason of Giorgi Kvirikashvili’s resignation from the Prime Minister’s post was named growing tendency of poverty in the country, which is reflected in recent survey of UNICEF, the newspaper says.

    In spite of lack of those, challenging disturbing number of socially unprotected, as their number in the country with population of 3.7 million reaches 1 million, many questions arose toward the poverty-disturbed parliamentary majority, the article specifies.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “GROWTH OF PENSIONS IS NOT PLANNED NEXT YEAR”

    June 21, 2018 - “Growth of the state pensions is planned for 2019-2020 by 20 lari [per year]”, nominee Premier Mamuka Bakhtadze declared, while speaking in the Parliament on June 20.

    For that end, “we will envisage additionally in the medium-term budget about 400 million lari”, Bakhtadze said.


    TABULA: ““GEORGIAN DREAM” OF 2012-2018: FROM POLITICAL ECONOMY OF EXCESSIVE DEBTS TO DEFICIENCY OF TRUST”

    June 19, 2018 - Author of the article considers that “excessive debts of private sector are late result of that wrong and squandering structural and fiscal policy, which Georgian Dream had especially pursued in 2013-2015”.

    Georgian Dream, which took control over public finances with 2 billion lari, managed to finish the first year of ruling, i.e. 2013, with the budgetary gap of 600 million lari, the author specifies.


    FORBES GEORGIA: “ADB NAMES BARRIERS FOR GEORGIAN FINANCIAL SECTOR’S DEVELOPMENT”

    June 19, 2018 - Access to finance is a problem for small business in Georgia, however the problem is also that they have quite small savings, the magazine reports with reference to research, conducted by Asian Development Bank (ADB).

    In their turn, Georgian banks name as a problems the need of personal identification for opening of account, i.e. client has to visit bank in person for that end.


energy, oil & gas

    REZONANSI: “RUSSIA GRADUALLY TOOK CONTROL OVER GEORGIAN FUEL MARKET”

    June 19, 2018 - There are talks that Euro-5 standard will be introduced on diesel fuel in Georgia since 2019, the newspaper says. Currently, petrol of Euro-5 standard and diesel of Euro-4 standard are permitted for sale on the local market now.


conflict and court

    LIBERALI: “MINE PERCUSSION OR “HUMAN MISTAKE” – WHY MINERS DIED”

    June 22, 2018 - With confidence of 99%, it could be said that tragedy (death of 6 miners on April 5) in Tkibuli mine was not caused by mine percussion, Liberali says with reference to Irakli Petriashvili, chairman of labor unions.

    According to Petriashvili, it was rather blame of human mistake and violation of labor conditions, responsibility for which should be put on Saknakhshiri (Georgian Coal, the mine’s owner company, member of Georgian Industrial Group).


transport & communications

    TABULA: “THE CITY HALL PURCHASES 90 NEW DIESEL BUSES FOR 45M LARI”

    June 21, 2018 - Municipal Tbilisi Transport Company purchases 90 new buses for 45 million lari, Tabula reports.

    As the article specifies, tender application was already submitted by Georgian company Tegeta Truck&Bus, which offered the City Hall buses of City M category.


    NETGAZETI.GE: “MAIA TSKITISHVILI: COMPLETION OF HIGHWAY’S CONSTRUCTION ON RIKOTI WILL BE POSTPONED FOR 1-2 YEARS”

    June 19, 2018 - Maia Tskitishvili, candidate for post of Minister of Regional Development and Infrastructure, declared that tenders on highway construction on Rikoti Pass will be announced in 2018.

    According to Tskitishvili, the government planned initially to finish construction of the mentioned section, which includes over 50 bridges and 50 tunnels, by 2021.


finances & banking

    TABULA: “THE GOVERNMENT WILL FINE YOU OF 10,000 LARI, IF YOU SELL REAL ESTATE FOR CASH”

    June 18, 2018 - The Parliament considers the legislative package, drafted by the Finance Ministry, which, in case of adoption, will toughen rules of purchase and sale of real estate, Tabula reports.

    The article specifies that realty operations will be prohibited to conduct for cash, and only cashless settlements will be permitted.


construction

    FORBES GEORGIA: “THE MOST EXPENSIVE DISTRICTS OF TBILISI”

    June 18, 2018 - In the 1st quarter of this year, the real estate market in comparison with the 4th quarter of 2017 was not considerably revitalized, however significant growth (27.2%) is observed in comparison with the 1st quarter of last year, the magazine points. Total number of property transactions made up 27,495.


tourism

    FORBES GEORGIA: “SINCE START OF THE YEAR, 18 NEW HOTELS OPENED IN GEORGIA”

    June 20, 2018 - Since the beginning of this year, 18 new hotels were opened in Georgia, including 7 branded ones. Total accommodation capacity of the country has increased by 1,624 beds and 812 hotel rooms, the magazine reports with reference to National Tourism Administration.


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