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Economic Press Monitor

November 24 - 30, 2019

Previous Issues:  Days: < 16 23 30 07 14 > 

 

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economic & politics

    BANKEBI DA FINANSEBI: ““TBC CAPITAL” PRESENTED INVESTMENT ANALYSIS OF FMCG SECTOR”

    November 29, 2019 - Investment company TBC Capital presented the second investment analysis of Georgian sector of fast-moving consumer goods (FMCG), the newspaper reports.

    According to the analysis, volume of FMCG sector will exceed 9.4 billion lari by the end of 2019.


    NETGAZETI.GE: “IVANISHVILI PROMISES EMPLOYMENT TO GEORGIANS NOT IN GEORGIA, BUT ABROAD”

    November 28, 2019 - “We have no jobs, this is our main problem”, declared Bidzina Ivanishvili, Georgia’s ex-premier and billionaire leader of ruling Georgian Dream, and indicated that at the same time, “the problem is that absolute majority [of Georgians] is illegally employed [abroad]”. Whereas, Europeans “have jobs, they have shortage of labor force”, he pointed.


    BANKEBI DA FINANSEBI: “ORGANIZATIONS, FINANCED BY AMERICAN MONEY, ACT AGAINST THE AMERICAN STATE”

    November 28, 2019 - “Our team steadily protects the American interests”, declared Bidzina Ivanishvili, Georgia’s ex-premier and billionaire leader of ruling Georgian Dream.

    “You will not be able to bring any example that any member of Georgian Dream does something against it [i.e. the US interests], perhaps, there could be small [actions], of petty importance, however we steadily and sincerely carry out and protect the American interests”, Ivanishvili assured.


    TABULA: “AFTER 2020, “DREAM” WANTS TO BRING PROPORTIONAL SYSTEM, DESCRIBED IN THE CONSTITUTION, ON PLEBISCITE”

    November 26, 2019 - Kakha Kaladze, Tbilisi Mayor and secretary general of ruling Georgian Dream, declared that issue of electoral system, by which parliamentary elections have to be held in Georgia, will be solved by a plebiscite. This survey will be conducted either together with parliamentary elections of 2020, or with local elections of 2021, he pointed.


    KVIRIS PALITRA: “BLAMING STREET PROTESTS OF LARI EXCHANGE RATE IS “PETTINESS””

    November 25, 2019 - Economist Akaki Tsomaia considers that currently, Georgia reaps results of de-dollarization and larization policy. National Bank of Georgia “missed control levers” – lari against the US dollar considerably depreciated and we got inflation, he specifies.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “LARI EXCHANGE RATE OVERPASSED THE VERGE AND BECAME ITSELF THE FACTOR, IMPACTING INFLATION THE MOST TODAY”

    November 28, 2019 - Mikhail Chkuaseli, the Finance Minister in the government of Eduard Shevardnadze, points that “lari exchange rate overpassed the verge, when its change was perceived as result of various factors’ influence”. Today, lari “became itself the factor, which impacts inflation the most”, he declares.


    NETGAZETI.GE: “THE PARLIAMENT BUYS WITHOUT TENDER 4 CARS FOR 300,000 LARI”

    November 27, 2019 - Georgian Parliament is going to buy 2 cars, made by Toyota, and 2 ones – by Skoda, without tender, planning to pay about 300,000 lari, Netgazeti.Ge reports. The Parliament explains the decision by the fact that 4 old cars, being on its balance sheet, went out of order.


    FORBES GEORGIA: “TAKING STATE DEBT RISES IN PRICE, WHILE THE GOVERNMENT BORROWS MORE”

    November 27, 2019 - At treasury bonds auction on November 26, Georgian Finance Ministry placed 5-year securities of 70 million lari, the magazine reports. Lowest yield rate made up 9.4%, upper rate – 9.8%, while average weighted one – 9.5%.


    REZONANSI: “LARI PASSES THE HARDEST DAYS – WILL IT OVERCOME MARK OF 3.0 BY DECEMBER 10?”

    November 26, 2019 - In recent period, National Bank of Georgia (NBG) and the government of the country took jointly many steps for curbing of inflation and strengthening of national currency, but lari not only did not succeeded to strengthen, but it failed even to stabilize, the newspaper writes.

    Nika Shengelia, analyst at Finex-1970, considers that NBG “has not to increase the refinancing rate, but on the contrary, to decrease it, giving thus an opportunity to creators of real economy to make more products and services”.


    TABULA: “AUDIT: FOUNTAIN IN GORI, REPAIRED FOR 55.7 THOUSANDS, WORKED 4 MONTHS”

    November 25, 2019 - Georgian State Audit Service conducted audit of compliance of the budget-funded programs, implemented in Gori municipality in 2017-2018.

    The audit revealed that the fountain in Gori, which was repaired in 2017 for 55,700 lari, had worked only 4 months, Tabula reports.


energy, oil & gas

    FORBES GEORGIA: “TODAY’S ENERGY POLICY – PATH TO DARKNESS”

    November 27, 2019 - In the opinion, published in the magazine by Revaz Vashakidze (founder of company Chirina) and Avtandil Gogol (founder of Capital Locus), situation in Georgian energy sector is reviewed.

    The authors consider that the power sphere is incorrectly organized, and current energy supply system of the country is less sustainable and appealing for investment, than it was 5 years ago.


    REZONANSI: “ENERGY DEPENDENCE ON RUSSIA QUICKLY GROWS”

    November 25, 2019 - Referring to Georgian Electricity Market Commercial Operator, the newspaper reports that Georgia’s import of electric power in January-October has increased by 14.5% year-on-year and most of all, the import increased from Russia.

    If in 10 months of 2018, Georgia’s import from Russia made up 74.6 million kWh, it amounted already to 392.2 million kWh in the same period of this year, i.e. year-on-year growth made up 425.3%, the article indicated.


companies

    FORBES GEORGIA: “RATING OF GEORGIAN CONSTRUCTION COMPANIES”

    November 26, 2019 - The magazine prepared in partnership with consulting company Ebit Group the rating of construction companies of Georgia. According to the report, income of 20 largest construction companies in 2018 exceeded 1.4 billion lari.


transport & communications

    BANKEBI DA FINANSEBI: “NEXT FAILED PROJECT – PROMISED RAILWAY STATION AT KUTAISI AIRPORT WILL NOT BE BUILT”

    November 26, 2019 - Because of low cost, passenger turnover at Kutaisi airport constantly grows, but the airport has only automobile communication with Tbilisi or other cities of Georgia, the newspaper says.

    As the article notes, Georgian government announced in 2017 plans on construction within a year of 3-km railway branch line to the airport, which are still not fulfilled.


international cooperation

    BANKEBI DA FINANSEBI: “RATES OF LARGEST REALIZATION MARKETS’ MASTERING ARE LOW – WHAT ARE RESULTS OF FREE TRADE FOR GEORGIA”

    November 29, 2019 - In recent years, Georgia’s economic vector has inclined to signing of free trade agreements, notes author of article, analyst at the Young Financiers and Businessmen Association Bachana Jincharadze. The article reviews results of such agreements, signed by Georgia.


ecology & health

    NETGAZETI.GE: “DESPITE DEMAND OF CLINICS, THE MINISTRY DOES NOT PLAN SUSPENSION OF TARIFFS”

    November 28, 2019 - At the press conference on November 27, a part of doctors said that unified tariff, introduced within the state program of universal healthcare by the Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection, is acceptable for them, but the problem are offered prices, Netgazeti.Ge reports.

    The doctors indicated that unified tariff, introduced by resolution, which entered in force on November 21, is below of prime cost of health services.


agriculture & food

    REZONANSI: “FLOUR RAISED IN PRICE AGAIN, WHETHER DANGER THREATENS BREAD PRICE?”

    November 29, 2019 - This year, both wheat harvest in Georgia is decreased and grain supplies from Kazakhstan were not succeeded because of lean year, the newspaper says. All this creates danger to bread price, especially against the background of inflation or devaluation of lari, the article specifies.


construction

    FORBES GEORGIA: “VAT TAXATION OF APARTMENT, OFFERED BY DEVELOPMENT COMPANIES, IN 2015-2020”

    November 29, 2019 - Since 2020, large-scale amendments in Georgian Tax Code’s section on VAT are planned. These amendments will apply to development and construction companies too.


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