Economic Press Monitor November 19 - 25, 2017	Days:  11 18 25 02 09

economic & politics

NETGAZETI.GE: “WHAT GEORGIA SHOULD (NOT) EXPECT FROM EASTERN PARTNERSHIP SUMMIT”

November 24, 2017 - Concluding declaration of Brussels summit of Eastern Partnership with greatest probability will repeat record of Riga summit about recognition of European aspirations and European choice of partners, having respective desire, including Georgia, Netgazeti.Ge states.

Participants of the summit will sum up results of steps, taken after Riga summit of 2015, and will plan ways of future cooperation, after which will adopt the declaration, which will be published on November 24, the article says.




FORBES GEORGIA: “IN CYBER-SECURITY INDEX, GEORGIA OCCUPIES THE THIRD PLACE AMONG 40 COUNTRIES”

November 24, 2017 - In global cyber-security index of e-Governance Academy, Georgia occupies the 3^rd position, the magazine reports. The rating assesses 40 countries and the first two positions are occupied by Germany and Czech Republic.




NETGAZETI.GE: “THE GOVERNMENT SOLD LAND IN TSIKHISDZIRI TO IVANISHVILI FOR 60 LARI PER 1 SQUARE M AND WITHOUT CONDITIONS”

November 21, 2017 - National Agency of State Property and Ajara Ministry of Finance and Economy sold land plots in Tsikhisdziri, totaling to 18,136 square m, at auction without any conditions, Netgazeti.Ge reports.

The plots were acquired by Business Development, company of Bidzina Ivanishvili (billionaire ex-premier), for 1.99 million lari, i.e. for 60.6 lari per 1 square m.




TABULA: “GEORGIA TO BUY ANTI-TANK SYSTEM “JAVELIN” FROM THE US FOR $75M”

November 21, 2017 - The US State Department supported Georgia’s request on purchase of advanced anti-tank missile system Javelin, Tabula reports.

According to the article, estimated cost of the transaction makes up $75 million, i.e. about 201 million lari.




REZONANSI: “RECKLESS PLAYER’S FAMILY MEMBERS WILL BE ALLOWED TO DEMAND TO BAN HIM TO PLAY THROUGH COURT”

November 20, 2017 - The authorities plan to create register of citizens, dependent on gambling, to whom participation in similar games will be forbidden, the newspaper reports.

Draft law, submitted to the Parliament, assigns maintenance of this registry on Revenue Service, which will put reckless player in the list for 3 years.




KVIRIS PALITRA: “WHY INVITED KALADZE AUDIT SERVICE TO THE CITY HALL”

November 20, 2017 - New Mayor of Tbilisi Kakha Kaladze invited State Audit Service, the newspaper reports. In interview to the newspaper, Teona Chalidze, one of founders of non-governmental organization Mediator, speaks about violations under the previous mayor David Narmania.

macroeconomics & budget

TABULA: “THE GOVERNMENT EXPECTED TOBACCO CONSUMPTION’S REDUCTION BY 8%, WHILE REDUCTION MADE UP 15%”

November 22, 2017 - In January-August of last year, 5.8 billion cigarettes were sold, while in January-August of this year – 4.9 billion, i.e. year-on-year reduction made up 15.5%, Tabula reports.

The government raised in 2017 an excise tax by 52% and expected that sales of tobacco will be reduced by 8%.




TABULA: “THE CITY HALL ASKS FINANCE MINISTRY TO INCREASE TBILISI BUDGET”

November 21, 2017 - The City Hall of Tbilisi asks the Finance Ministry to increase the capital budget, Tabula reports.

As vice-mayor Irakli Khmaladze declares, “We will make considerable amendments to spending part”.




KVIRIS PALITRA: “NATIONAL CURRENCY GET SICK WITH “LARI FLU”?”

November 20, 2017 - There is already a month that lari depreciates almost daily: official exchange rate of lari against the US dollar declined by 24 tetri, while against euro – by 28 tetri, the newspaper states.

Due to devaluation of lari, president of the National Bank of Georgia (NBG) is called to the Parliament on November 27, the newspaper reports.

energy, oil & gas

REZONANSI: “THERE ARE SEVERAL DAYS REMAINED UNTIL RISE OF LIGHT IN PRICE”

November 21, 2017 - National Energy and Water Supply Regulating Commission (GNERC) declared that scheduled consideration will be held until end of the year, on the base of which electricity tariff will be set for 2018.

The newspaper points that the commission will have to calculate the tariff exactly during the period, when exchange rate is traditionally the highest.

companies

BANKEBI DA FINANSEBI: “IN CASE OF OBLIGATORY INSURANCE EXISTENCE THE MARKET SIZE WILL GROW BY 50%”

November 22, 2017 - In interview to the newspaper, deputy director general of TBC Insurance David Kiguradze points at considerable growth of insurance sector in Georgia during the last several years, generally in direction of medical insurance.

“Essential difference between Georgia and other developing countries in respect of insurance products’ penetration is conditioned by lack of practice of obligatory insurance in the country”, Kiguradze considers.




FORBES GEORGIA: “GROWN IN GEORGIA – IMERETI GREEN BUSINESS”

November 22, 2017 - Greens and vegetables producer company Herbia, which employs 50 people, currently produces annually 500 t of 15 names of production and occupies 95% of packed greens segment, the magazine reports.

As the article notes, the company, which was founded in 2006, accomplished construction of hothouse in 2008, while in 2013 – became the leader in packed greens segment.

transport & communications

TABULA: “IN CARS, IMPORTED TO GEORGIA, SHARE OF HYBRIDS GREW TO 42%”

November 24, 2017 - Number of hybrid and electric cars in Georgia grows with fast pace, being promoted also by tax privileges, Tabula says.

Tax on hybrid cars is by 60% lower, than standard, while electric cars are exempted from taxation at all.




BANKEBI DA FINANSEBI: “OLIGOPOLY AMPLIFIES ON TELECOM MARKET – LARGE COMPANIES “ABSORB” COMPETITORS”

November 21, 2017 - We are dealing today with reality that two companies, SilkNet and MagtiCom, control 77% of Internet market, the newspaper points.

Remained minor Internet service providers (ISP) are manage to operate only in regions, but their freedom of action is hampered by large companies even there, the article notes.

ecology & health

NETGAZETI.GE: “KALADZE: WE WILL TAKE CONCRETE STEPS FOR SETTLEMENT OF LANDFILL PROBLEM IN LILO”

November 22, 2017 - Tbilisi Mayor Kakha Kaladze declares that the City Hall will start working on arrangement of landfill in settlement Lilo. “Lilo landfill is in very bad condition and represents serious problem for the people living there”, he points.

construction

REZONANSI: “PRICING IN LARI DID NOT CHANGE SITUATION ON REAL ESTATE MARKET”

November 24, 2017 - Neli Goguadze, founder of real estate agency Kibe, says that demand on new apartments has increased in recent period. “System of payment by installments had significant influence on people, who found quite attractive the conditions, offered by various companies”, she explains.