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Economic Press Monitor

July 23 - 29, 2017

Previous Issues:  Days: < 15 22 29 05 12 > 

 

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economic & politics

    TABULA: “LANDS MORATORIUM RESTRICTS EXISTING PROPERTY RIGHT – BUSINESS OMBUDSMAN”

    July 28, 2017 - On July 26, the Parliament declared moratorium on sale of agricultural land to foreigners.

    Business Ombudsman estimates that the adopted law contains legal shortcoming, because of which existing property right of citizens and companies is restricted.


    TABULA: “NDI: ECONOMY WILL BE ABLE TO SETTLE – “DREAM” 24%, “UNM” 11%, “EUROPEAN GEORGIA” 7%”

    July 28, 2017 - Within survey, conducted in June-July, National Democratic Institute (NDI) had asked respondents which political party would be able to settle economic situation in the country.

    Results are as follows: ruling Georgian Dream – 22%, United National Movement (UNM) – 11%, European Georgia – 7%, Alliance of Patriots – 3%.


    EUGEORGIA.INFO: “POPULATION’S AWARENESS REMAINS CHALLENGE IN COURSE OF LEGISLATIVE RAPPROCHEMENT WITH THE EU”

    July 28, 2017 - In Georgia, rapprochement with 102 legal acts of the EU is planned in respect of food safety, 84 acts – in respect of veterinary, 85 acts – plants’ protection. The most part of legislative amendments is scheduled for 2018-2026.


    REZONANSI: “THE PARLIAMENT TO ADOPT NEW LAW ON LAND IN AUTUMN”

    July 28, 2017 - Member of the parliamentary majority Gela Samkharauli declares that work on the law, which restricts alienation of land to foreigners, will be finished by autumn.

    “Current moratorium imposes restrictions on lands’ alienation to foreign citizens and companies, registered in foreign states’ territory”, Samkharauli points and adds: “the moratorium is in effect until we work on the organic law on land of agricultural purpose”.


    IVERIA.BIZ: “NEED OF GENERAL BATTLE APPROACHES”

    July 27, 2017 - According to author of the article, Bidzina Ivanishvili (billionaire ex-premier of Georgia) “purposefully put Georgian economy on a pause in order to cause considerable reduction of citizens’ income and decline of their solvency”.

    “However, all this had to be done necessarily smoothly and not hasty to avoid generation of public protest”, the article says.


    FORBES GEORGIA: “COUNTRIES, WHERE GEORGIANS BUY REAL ESTATE MOST OFTEN”

    July 25, 2017 - Referring to information of PropertyAbroad company, Forbes Georgia reports that most often Georgians buy real estate in Spain, Germany, the US, Turkey and Thailand. At that, Georgian citizens mostly seek property within 100,000 EUR.


macroeconomics & budget

    NETGAZETI.GE: ““BONUS 17 TIMES” – AUDIT CONCLUSION ON THE FINANCE MINISTRY’S EXPENSES FOR 2016”

    July 26, 2017 - According to results of State Audit Service’s examination of the Finance Ministry’s activity for 2016, some persons in the Ministry received bonuses 17 times during 2016, some – 16 times. At that, in the reporting year, bonuses above the set limit were paid as exception to 40 employees.


    REZONANSI: “BECAUSE OF FALSE TENDERS, MILLIONS ARE LOST FROM THE BUDGET”

    July 25, 2017 - Non-governmental organization EcoTransport Center studies tender conditions of the Ministry of Regional Development and Infrastructure, where multiple violations are revealed, the newspaper reports.

    As head of the organization Vaso Urushadze states, tender conditions are systematically violated, obligations are not fulfilled and working process is dragged out.


    TABULA: “INTERIOR MINISTRY PROCURES 176 CARS FROM COMPANY OF THE MINISTER TARIEL KHECHIKASHVILI”

    July 24, 2017 - Interior Ministry procures 176 cars from Iberia Auto Center, the company of Sport and Youth Minister Tariel Khechikashvili, Tabula reports.

    According to State Procurements Agency, the company will receive 8.64 million lari.


energy, oil & gas

    KVIRIS PALITRA: “MORE, THAN IN TBILISI, “FIRE WAS SET” TO GAS IN REGIONS”

    July 24, 2017 - National Energy and Water Supply Regulating Commission established new tariff for gas distributor companies, according to which consumer tariff for consumers of KazTransGas-Tbilisi will make up 46.15 tetri per cubic m.

    Before establishment of new unified tariff for consumers of SOCAR Georgia Gas (56.94 tetri), 41 various tariffs were effective in regions.


companies

    FORBES GEORGIA: “THE MOST EXPENSIVE FACULTIES IN GEORGIA”

    July 27, 2017 - In the majority of state universities of Georgia, annual tuition fee makes up fixed 2,250 lari, the magazine reports.

    Situation in private higher educational institutions is different.


    LIBERALI: “GEORGIA’S BUDGET, WHICH LOST TO LOTTERY COMPANY”

    July 26, 2017 - In 2011, Dimitri Chikovani granted own stake of 70% in Georgian Lottery Company to the state. However, as the magazine notes, this was not a generosity, as the company had arrears of millions of dollars to the state and this debt grew.


finances & banking

    TABULA: “CHINESE BANK WITH CAPITAL OF $1B WILL START OPERATION IN GEORGIA SINCE 2018”

    July 25, 2017 - In 2018, Chinese company CEFC China Energy plans opening of commercial bank in Georgia, Tabula reports. Capital of the bank will amount to about $1 billion.


    BANKEBI DA FINANSEBI: “IN AUTUMN, “SAKARTVELOS BANKI” TO SEPARATE NON-CORE ASSETS”

    July 24, 2017 - Finance Minister Dimitri Kumsishvili points: “There were always talks about one of large banks that its investment portfolio grows”. “This is Sakartvelos Banki” (Bank of Georgia), which launched process of separation, he specifies.


agriculture & food

    EUGEORGIA.INFO: “GEORGIAN GREENS, TOMATOES, PEACHES AND NECTARINES APPEARED IN SUPERMARKETS OF QATAR”

    July 27, 2017 - For the last week, Georgian agricultural production has appeared in supermarkets of Qatar, Eugeorgia.Info reports. Georgian greens in Qatari supermarkets cost $2-3 per 1 kg on average.


    EUGEORGIA.INFO: “PROBLEMS, WHICH PEACH INDUSTRY FACES IN GEORGIA AND DURING EXPORT”

    July 26, 2017 - According to FAOSTAT, among 81 peach producing countries of the world, Georgia occupied in 2013 the 47th place.

    Research, conducted by PMCG, show that production of peaches in Georgia is carried out generally in small orchards.


    NETGAZETI.GE: “HOW AFFECTED HAZELNUT APPEARS ON THE MARKET – DANGERS AND MECHANISMS OF CONTROL”

    July 25, 2017 - In 2016, the EU Rapid Alert System for Food and Feed (RASFF) had 9 alerts concerning aflatoxins in Georgian hazelnut, and 2 ones – in 2017.

    Tengiz Kalandadze, head of department at the Agriculture Ministry, says that until receiving of corresponding laboratory conclusion, customs check point does not allow the freight to cross border.


construction

    FORBES GEORGIA: “FUTURE OF TBILISI SEA”

    July 27, 2017 - Tbilisi artificial reservoir (so-called Tbilisi Sea), created in 1951 for watering of droughty Samgori valley, could become a source of attraction of investments for $2 billion today, the magazine says.

    Conceptual development plan of Tbilisi Sea was prepared by PwC, to which Tbilisi City Hall has paid $207,680.


    REZONANSI: “A HALF OF TBILISI SHOULD BE BUILT ANEW!”

    July 26, 2017 - Member of Tbilisi Sakrebulo (City Council) Manuchar Machaidze considers that nothing will help majority of damaged houses in Tbilisi, except dismantle. There is no exact description, how many such houses are in various districts, but the fact is that there is a lot of them in the city, he points.


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