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Economic Press Monitor

October 18 - 24, 2020

Previous Issues:  Days: < 10 17 24 31 07 > 

 

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economic & politics

    TABULA: “EU WITHDREW GEORGIA FROM THE LIST OF SAFE COUNTRIES”

    October 22, 2020 - Georgia, along with Canada and Tunisia, appeared among countries, which the EU withdrew from the list of safe countries, Tabula reports. As the article notes, the decision will enter in force in the end of current week.


    REZONANSI: ““THIS SHOULD NOT LEAD SOMEONE INTO TEMPTATION”, – THE CORONAVIRUS RUINED OBSERVERS’ ARRIVAL TO GEORGIA”

    October 21, 2020 - The newspaper indicates that there will be unprecedentedly small number of foreign observers on October 31 parliamentary elections in Georgia.

    In particular, because of global epidemiological situation, the European Parliament will not send its observer mission to Georgia.


    REZONANSI: “GEORGIA ON THE VERGE OF SECOND CLOSING – WHY UNCONTROLLED TRANSFER OF CORONAVIRUS STARTED IN THE COUNTRY”

    October 20, 2020 - Ekaterina Tikaradze, Georgia’s Minister of IDPs from Occupied Territories, Labor, Healthcare and Social Protection, does not see at this stage the need of new restrictions’ introduction in the country because of COVID-19. “The coordination council will make decision on closing of the country, when cases [of infections] grow so much that we will be unable to manage them adequately”, she says.


macroeconomics & budget

    TABULA: “AFTER SALE OF 40M, LARI HAS STRENGTHENED AGAINST DOLLAR BY 0.93 TETRI, AGAINST EURO – BY 1.8 TETRI”

    October 23, 2020 - After sale of $40 million by National Bank of Georgia (NBG) on October 22, Georgian national currency became stronger slightly, Tabula reports.

    In particular, lari has strengthened against the US dollar by 0.93 tetri and the rate made up 3.2181 GEL/USD.


    REZONANSI: “LOST JOBS WOULD NOT BE RESTORED PROBABLY FOR A WHILE, UNEMPLOYMENT TAKES DANGEROUS FORM”

    October 23, 2020 - In the 2nd quarter, number of unemployed in Georgia increased year-on-year by 15,600 people, of whom 13,900, or 89%, are women.

    Statistician Givi Momtselidze considers that more people lost jobs, than official statistics shows.


    REZONANSI: “FOR THE FIRST TIME: AVERAGE SALARY BEGAN TO DECREASE AND EVEN WORST RESULTS EXPECT US AHEAD”

    October 22, 2020 - Average salary had increased in Georgia every year, however it decreased in the 2nd quarter of this year and made up 1,352 lari against of 1,419 lari in the 2nd quarter of 2019, the newspaper reports. That means that Georgia fell back to the level of 2018, the article points.


    REZONANSI: “PRIME MINISTER’S CONFIRMATION: PROGRAM OF 200-LARI ASSISTANCE WILL PROCEED”

    October 21, 2020 - Georgia government will continue provision of monthly assistance of 200 lari for population, which lost jobs, the newspaper says. However, it is not known yet since what time and for what term the program will be continued, the article points.


companies

    TABULA: “MDF: IN 2019, BUDGETARY CONTRACT OF BIGGEST COST AMONG TELEBROADCASTERS – 997,616 LARI, WAS SIGNED WITH “IMEDI””

    October 23, 2020 - Media Development Fund (MDF) reported that in 2019, budgetary contract of biggest cost among TV broadcasters – 997,616 lari, was signed with Imedi.

    Among FM broadcasters, the biggest budgetary contract was signed with holding Fortuna – 46,856 lari.


    TABULA: “HOTEL “HOLIDAY INN” WILL ACCOMMODATE PATIENTS, INFECTED WITH EASY FORM OF THE CORONAVIRUS”

    October 21, 2020 - Nino Zambakhidze, board member at Achara Group, declared that Holiday Inn, Tbilisi hotel of the group, will accept patients with easy form of COVID-19.

    This information became known after the meeting of Georgia’s Prime Minister Giorgi Gakharia with representatives of business sector of the country, Tabula reports.


transport & communications

    TABULA: “TURNAVA ON “RYANAIR”: WE GAVE THE GREEN LIGHT TO THEM, NOW THEY DECIDE, WHEN TO START FLIGHTS”

    October 21, 2020 - Georgian government removed restrictions on regular flights to 10 destinations, Tabula reports.

    The article notes that charter flights to Warsaw (LOT), Athens (Aegean Airline), Doha (Qatar Airlines), Vienna, Amsterdam and Berlin (Georgian Airways) are conducted even now, so probably, the mentioned airlines will continue operation already with regular flights in November.


    REZONANSI: ““THE NEXT 4 YEARS WILL BE YEARS OF REVIVAL OF POTI SPECIFICALLY” – PROMISE OF PRIME MINISTER”

    October 20, 2020 - Georgia’s Prime Minister Giorgi Gakharia declared that “the next 4 years will be years of revival of Poti”.

    He specified that in near future, besides PACE Terminal, which together with the American partners carries out expansion of Poti port, construction will begin north of the port.


finances & banking

    FORBES GEORGIA: “HOW CREDITS OF 700% DISAPPEARED”

    October 22, 2020 - The article reviews history of online credits in Georgia. This financial product appeared on the country’s market in 2013, while now, online credits actually do not exist.


construction

    FORBES GEORGIA: “MEET THE MAN WHO IS BRINGING FOREIGN INVESTORS TO GEORGIA”

    October 20, 2020 - Hani Hebashi arrived to Georgia from Egypt in January 2018, founded OTI Holding Group in September of the same year and attracted investments for hundreds of millions dollars since that, the magazine reports. I found that real estate was one of the biggest sectors of Georgian economy, he says in interview to the magazine.


    REZONANSI: “PROGRAM OF MORTGAGE LOANS DID NOT SAVE SITUATION, FALL BEGAN ON REAL ESTATE MARKET”

    October 20, 2020 - Referring to data of National Bank of Georgia, the newspaper reports that Georgia’s real estate price index for the last 4 months went down by 36.7 points.

    In its turn, research of TBC Capital indicates that Tbilisi apartment sales’ registration during October 1-8 has decreased by 2% year-on-year.


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