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Economic Press Monitor

April 18 - 24, 2021

Previous Issues:  Days: < 10 17 24 01 15 > 

 

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economic & politics

    BANKEBI DA FINANSEBI: “COMPETITION AGENCY COMPLETED MONITORING OF 5 MARKETS AND 3 INVESTIGATIONS IN 2020”

    April 23, 2021 - Georgian National Competition Agency reported that study of 5 markets was completed in 2020. The monitored markets include cigarettes (filter and filter-less), chain facilities of retail trade, infant food, car insurance (CASCO), wheat and bread products.


    BANKEBI DA FINANSEBI: “BUSINESS ASSOCIATIONS OFFER THE PREMIER A 6-POINT PLAN”

    April 23, 2021 - Up to 14 Georgian business associations appealed to the country’s Prime Minister and proposed a 6-point plan on lifting restrictions, imposed in connection with COVID-19.

    The country’s economy has been partially closed for more than a year, while during 6 months we have a total “lockdown”, which is utterly unacceptable luxury for our rather poor country, the associations say in their statement.


    NETGAZETI.GE: ““YOU ARE INVITED TO SIGN THE AGREEMENT, FROM 9AM” – CARL HARTZELL”

    April 20, 2021 - The EU ambassador to Georgia, Carl Hartzell, urges all elected members of Georgian Parliament to come to the EU representation office on April 20 and to sign the political agreement. Hartzell writes about this on his Twitter.


    NETGAZETI.GE: ““YOU ARE INVITED TO SIGN THE AGREEMENT, FROM 9AM” – CARL HARTZELL”

    April 20, 2021 - The EU ambassador to Georgia, Carl Hartzell, urges all elected members of Georgian Parliament to come to the EU representation office on April 20 and to sign the political agreement. Hartzell writes about this on his Twitter.


    NETGAZETI.GE: “WE INVITE REMAINING PARTIES TO SIGN THE AGREEMENT – THE US”

    April 20, 2021 - The US embassy in Georgia stated that “the US welcomes the agreement reached by the parties, under the auspices of the EU President Michel’s mediation, to bring an end to Georgia’s political crisis”. As the embassy’s statement notes, “this agreement required difficult compromises by all sides”.


    REZONANSI: “WHAT UNDERMINES ECONOMY THE MOST – PANDEMIC, DEVALUATION, OR POLITICAL CRISIS?”

    April 20, 2021 - The COVID-19 pandemic is considered the greatest problem of resent period for business and economy, although such factors as lari exchange rate and political instability in the country are also important, the newspaper points.

    As the article specifies, due to lari exchange rate, importers are facing difficulties the most, while political instability hinders investors.


    NETGAZETI.GE: “WE INVITE REMAINING PARTIES TO SIGN THE AGREEMENT – THE US”

    April 20, 2021 - The US embassy in Georgia stated that “the US welcomes the agreement reached by the parties, under the auspices of the EU President Michel’s mediation, to bring an end to Georgia’s political crisis”. As the embassy’s statement notes, “this agreement required difficult compromises by all sides”.


    REZONANSI: “WHAT UNDERMINES ECONOMY THE MOST – PANDEMIC, DEVALUATION, OR POLITICAL CRISIS?”

    April 20, 2021 - The COVID-19 pandemic is considered the greatest problem of resent period for business and economy, although such factors as lari exchange rate and political instability in the country are also important, the newspaper points.

    As the article specifies, due to lari exchange rate, importers are facing difficulties the most, while political instability hinders investors.


    NETGAZETI.GE: “CHARLES MICHEL’S PROPOSAL TO THE PARTIES: FULL TEXT”

    April 19, 2021 - President of the European Council Charles Michel presented on April 18 new proposal to Georgian parties for approval. Netgazeti.Ge publishes full text of this document.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “SELIM CAKIR – DEPRECIATION OF LARI HAS A SIGNIFICANT IMPACT ON INFLATION”

    April 20, 2021 - Selim Cakir, IMF resident representative for Georgia, points that depreciation of lari has a significant impact on inflation.

    However, we expect that National Bank of Georgia (NBG) will be able to keep to “golden mean” – on the one hand, reduce depreciation of lari by interventions, while on the other hand – keep reserves at adequate level, Selim Cakir declared to Business Formula.


    BANKEBI DA FINANSEBI: “SELIM CAKIR – DEPRECIATION OF LARI HAS A SIGNIFICANT IMPACT ON INFLATION”

    April 20, 2021 - Selim Cakir, IMF resident representative for Georgia, points that depreciation of lari has a significant impact on inflation.

    However, we expect that National Bank of Georgia (NBG) will be able to keep to “golden mean” – on the one hand, reduce depreciation of lari by interventions, while on the other hand – keep reserves at adequate level, Selim Cakir declared to Business Formula.


    BANKEBI DA FINANSEBI: “GOVERNMENT BROUGHT FOR PRIVATIZATION PROPERTY OF 300M LARI AND SOLD ONE WORTH 60M LARI”

    April 19, 2021 - Within the framework of the state program “100 Investment Proposals for Business”, Georgian National Agency of State Property offered over 150 objects totaling up to 300 million lari to business.

    Out of this volume, property of 60 million lari was sold, the newspaper reports.


energy, oil & gas

    FORBES GEORGIA: “IN ELECTRICITY, EXPORTED FROM AZERBAIJAN IN JANUARY-MARCH, 91.3% ACCOUNTED FOR GEORGIA”

    April 19, 2021 - In Azerbaijan’s total electricity export for the first 3 months of this year (509 million kWh), Georgia accounted for 91.3% (464.9 million kWh), the magazine reports, referring to Azerbaijani media. The rest part of electricity was exported to Iran and Turkey.


conflict and court

    NETGAZETI.GE: “PERSONS, WHO STOLE CITIZENS’ MONEY AND BOUGHT BITCOINS, ARE DETAINED”

    April 23, 2021 - Referring to Georgian Prosecutor’s Office, Netgazeti.Ge reports that two persons were detained on the charge of illegal intrusion into computer system, theft and legalization of illegal income. The accused were sentenced to 7 years and 6 months in prison.


    FORBES GEORGIA: ““BGEO GROUP LIMITED”, SUBSIDIARY OF “SAKARTVELOS BANKI GROUP”, WON LITIGATION AGAINST ROMAN PIPIA”

    April 23, 2021 - On April 19, the High Court of England and Wales ruled in favor of BGEO Group Limited in litigation initiated by businessman Roman Pipia, the magazine reports. The case concerned LLC Rustavi Azot (Georgian chemical plant).


finances & banking

    FORBES GEORGIA: “WHY AND AT WHOSE EXPENSE INTEREST RATES ON DEPOSITS ARE BEING REDUCED?”

    April 19, 2021 - The article reviews reasons of reduction of interest rates on deposits in Georgia. There are many reasons: subjective and objective, external and internal, good and bad, says author of the article, Roman Gotsiridze (member of the oppositional National Movement and former president of National Bank of Georgia (NBG)).


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Exchange Rates (NBG)
  03/28/24 + / -
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