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Economic Press Monitor

December 20 - 26, 2020

Previous Issues:  Days: < 12 19 26 02 16 > 

 

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economic & politics

    NETGAZETI.GE: “WHY MARKETS DIDN’T OPEN? – EXPLANATION OF THE MINISTER DAVITASHVILI”

    December 25, 2020 - On December 22, it became known that in contrary to announced plan, markets in Georgia will not open. From December 24, customers will be allowed to visit trade centers, but with condition of observance of certain regulations.


    NETGAZETI.GE: “OMBUDSMAN URGES THE PARLIAMENT NOT TO ADOPT SUBMITTED CHANGES IN PARTIES’ FINANCING”

    December 25, 2020 - Georgian Public Defender negatively assesses changes connected with ceasing of financing of political parties, which the country’s Parliament discusses in accelerated mode, Netgazeti.Ge reports.

    The Ombudsman points that budgetary funding of parties aims financial back of their activity and promotion of development of the party system.


    REZONANSI: “WHICH BUSINESS WON’T SURVIVE THIS WINTER?”

    December 24, 2020 - Tourism and hospitality, which had biggest share in Georgia’s income just a year ago, are in extremely heavy situation now because of COVID-19 pandemic, the newspaper says.

    Most of restaurants could not withstand new restrictions, which act in the country already for a month, and they failed to turn to delivery service as well, the article indicates.


    FORBES GEORGIA: “CONSIDERATIONS ABOUT GEORGIAN PENSION AGENCY”

    December 23, 2020 - Creation of Georgian Pension Agency is both good and timely, though there are points in investment policy of the Agency, future development of which could be useful, the article points.

    As the article notes, as of December 17, 2020, the Agency’s value exceeded 1.5 billion lari, i.e. equivalent of about $352.4 million.


    TABULA: “PARTY WILL NOT GET FINANCING, IF IT DOESN’T UTILIZE AT LEAST HALF OF ITS PARLIAMENTARY MANDATES”

    December 22, 2020 - Draft of amendments, to be made in Georgia’s law “On Political Associations of Citizens”, establish that only those parties will get budgetary funding, which utilize at least half of their MP mandates.

    At that, the party will not get budget financing for the next year, if half of its MPs miss (without good cause) all the plenary meetings of the Parliament of current convocation in previous year.


    KVIRIS PALITRA: “STATISTICAL PARADOX – WHERE DID 400,000 UNEMPLOYED “DISAPPEAR”?”

    December 21, 2020 - About 410,000 citizens lost their jobs because of new restrictions, introduced by Georgian government in response to COVID-19 outbreak, the newspaper reports.

    As the article notes, these are exactly those people, to whom Georgian government paid monthly allowance of 200 lari during May-October and one-time aid of 300 lari.


    NETGAZETI.GE: “CIRCLE OF 300-LARI AID RECIPIENTS BROADENS – WHO ELSE WILL RECEIVE ONE-TIME ALLOWANCE”

    December 21, 2020 - Within its anti-crisis plan, Georgian government broadens circle of recipients of one-time allowance of 300 lari, Netgazeti.Ge reports. The government made corresponding amendments in respective decree.


macroeconomics & budget

    FORBES GEORGIA: “GEORGIA’S ECONOMY IN LAST 8 YEARS”

    December 25, 2020 - The article, which reviews Georgia’s economic performance for the last 8 years, points that the country’s economy during 2013-2018 has increased by 32% and accordingly, income per capita increased too.

    However, Georgia, which was a country with a relatively high economic growth (2010-2012), became a country with a medium economic growth, the article indicates.


    FORBES GEORGIA: “MOST DEMANDED PROFESSIONS IN GEORGIA IN 2020-2021”

    December 22, 2020 - The magazine reports that in 2020, most demanded professions in Georgia were software specialist, public health specialist, digital products manager, Cloud-technologies engineer and cyber-security specialist.

    In turn, as myjobs.ge (vacancies portal) says, “We should not expect radical changes on Georgian labor market in 2021”.


energy, oil & gas

    FORBES GEORGIA: “OIL EXTRACTION IN GEORGIA HAS INCREASED”

    December 21, 2020 - In 2019, oil extraction in Georgia totaled to 35,100 t, increasing by 16% year-on-year.

    Meanwhile, according to the Georgian Oil and Gas Corporation, annual oil extraction for the last 10 years made up 43,600 t on average.


conflict and court

    BANKEBI DA FINANSEBI: ““RUSTAVI AZOT” RELEASES STATEMENT ON CURRENT LITIGATION BETWEEN PLAINTIFF ROMAN PIPIA AND COMPANY “BGEO GROUP LIMITED””

    December 24, 2020 - The newspaper publishes statement, released by Rustavi Azot (Rustavi chemical plant) in connection with litigation between the plaintiff Roman Pipia and the company BGeo Group Limited.

    Pipia asserts that certain actions of BGeo in respect of Rustavi Azot inflicted significant damage to him.


companies

    FORBES GEORGIA: “RATING OF MICROFINANCIAL SECTOR”

    December 23, 2020 - The article reports that 40 microfinancial organizations operate in Georgia today, decreasing in number by 16 year-on-year. The market was abandoned by such players, which were engaged mainly in online lending, the article says.


    BANKEBI DA FINANSEBI: “IN 2018-2020, “GWP” INVESTED UP TO 300M LARI IN DEVELOPMENT OF WATER SUPPLY SYSTEM”

    December 22, 2020 - Irakli Babukhadia, director general of GWP (Georgian Water&Power, Tbilisi company of water supply and sewerage), declared that “during the last 3 years, the company has invested up to 300 million lari in order to renovate and develop the water supply system”.

    Rehabilitation projects were implemented in all districts of Tbilisi, Babukhadia said.


agriculture & food

    BANKEBI DA FINANSEBI: “SUBSIDIZING OF FLOUR PRICE BY THE GOVERNMENT COULDN’T STOP RISE OF BREAD IN PRICE”

    December 24, 2020 - Georgian government decided to subsidize price of flour of premium quality, spending about 10 million lari for that end, the newspaper reports, pointing that as a result of this subsidizing, 1 sack of flour will cost 53 lari at most.

    Despite the subsidy, allocated by the government, prices on bread have risen by 20-40 tetri in a number of cases, the article says.


    BANKEBI DA FINANSEBI: “GEORGIA GOT ADDITIONAL 15,000 T OF AMERICAN WHEAT”

    December 23, 2020 - Georgian Wheat and Flour Producers Association reported that Georgia got new lot of American wheat of 14,000 t.

    The wheat was delivered under agreement, signed with the American side by the Association member LLC Poti Grain Terminal.


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