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Economic Press Monitor

September 24 - 30, 2017

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

 

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economic & politics

    EUGEORGIA.INFO: ““PRODUCE IN GEORGIA” AGENCY STRENGTHENS SIGNIFICANT COMPONENTS IN DIRECTION OF EXPORT”

    September 29, 2017 - Since October, department of export development will be started in Agency Produce in Georgia, which will be in charge for update of Trade with Georgia platform, management of components of education and technical assistance and other tasks.

    Besides, strengthening of analytical department is planned, which will serve both export and investment directions, while from the next year, will conduct target analytical works also, Eugeorgia.Info reports.


    BANKEBI DA FINANSEBI: “GEORGIAN CITIZENS’ ROLE IN OWNERSHIP OF FARMLAND WAS MARKED OUT”

    September 28, 2017 - Chairman of the Parliament’s Committee of Branch Economy and Economic Policy Roman Kakulia states that as a result of constitutional amendments, adopted yesterday, “role of Georgian citizens in ownership of farmland was marked out”.

    It “will secure preservation of that sociocultural environment, with which today’s Georgia is interesting and attractive to the rest of the world”, Kakulia declares.


    TABULA: ““GEORGIAN DREAM” TRANSFERRED 105,000 LARI TO BIDZINA IVANISHVILI’S COMPANY”

    September 28, 2017 - Georgian Dream accounts for 95% of total political donations, and the ruling party spends most during the pre-election period, Tabula points.

    In particular, between August 22 and September 11, Georgian Dream received donations of 3 million lari, while spent 1.8 million lari.


    TABULA: “WORLD ECONOMIC FORUM: COURT INDEPENDENCE IN GEORGIA WORSENED BY 24 POSITIONS”

    September 28, 2017 - According to Global Competitiveness Index 2017-2018, published by World Economic Forum, Georgia is on the 87th position among 137 countries in ranking of court independence. If compared with the 63rd place in the previous index, current rating of the country is by 24 positions worse, Tabula specifies.


    TABULA: “GOKA GABASHVILI: “GEORGIAN DREAM” HAS NO PLAN OF THE CITY DEVELOPMENT”

    September 27, 2017 - Goka Gabashvili, number one in Tbilisi Sakrebulo (city council) election list of oppositional European Georgia, declares that ruling “Georgian Dream has no plan of the city development”.

    “Three years in hands of Narmania [current mayor of Tbilisi] were a downtime.


    FORBES GEORGIA: “PROPERTY RIGHT AND GENDER INEQUALITY IN GEORGIA”

    September 26, 2017 - New research of Asian Development Bank (ADB) reviews gender inequality in respect of property rights in Georgia, Mongolia and Philippines, the magazine reports.

    In Georgia, the research applied to 3,160 households, both in urban and rural areas.


    NETGAZETI.GE: “THE BUDGET-FINANCED POLITICAL ADVERTISING ON TELEVISION COMPANIES”

    September 26, 2017 - Ruling Georgian Dream ordered own political advertisement (commercials), financed from the state budget, to two TV companies – Imedi and Maestro, Netgazeti.Ge reports. The paid sums made up respective 344,825 lari and 12,740 lari.


    REZONANSI: “HOW PLAN CANDIDATES FOR TBILISI MAYOR’S OFFICE TO SETTLE PROBLEMS OF CONSTRUCTION AND PARKING”

    September 25, 2017 - All candidates for Tbilisi mayor’s office agree that main challenge of the city is intensive construction and parking and begin own election program with promises of their settlement, the newspaper states. The article brings position of 4 candidates in this respect.


macroeconomics & budget

    FORBES GEORGIA: “IMF ESTIMATES FISCAL TRANSPARENCY OF GEORGIA”

    September 28, 2017 - IMF estimates development of fiscal transparency of Georgia, the magazine reports. As the Fund notes, Georgia achieved in recent years considerable progress in respect of fiscal transparency and as a result, the country took the 16th place in Open Budget Index.


    FORBES GEORGIA: “ADB RAISED ECONOMIC GROWTH FORECAST FOR GEORGIA”

    September 27, 2017 - Asian Development Bank (ADB) expects in Georgia economic growth of 4.2% this year, the magazine reports. Previous forecast of the bank made up 3.8%.


    KVIRIS PALITRA: “WHEN WILL AVERAGE SALARY GROW IN GEORGIA?”

    September 25, 2017 - Economic expert Soso Archvadze says that in Georgia, there are twice less employees per 1,000 people today, than in the late eighties. “Today, there is rather a problem of number of recipients of a salary, than size of an average salary”, he declares.


energy, oil & gas

    EUGEORGIA.INFO: “GEORGIA, POSSIBLY, WILL HAVE TO POSTPONE EXECUTION OF ENERGY DIRECTIVES”

    September 27, 2017 - By join to founding agreement of European Energy Union, Georgia undertook liability to improve energy effectiveness of existing and potential buildings, Eugeorgia.Info says.

    Current deadline for respective directive’s execution is June 30, 2019, but this term can be changed, the article points.


    LIBERALI: “VICTIMS OF NENSKRAHES PROJECT MAY LEFT WITHOUT ADEQUATE COMPENSATION”

    September 26, 2017 - Report, prepared by Green Alternative and CEE Bankwatch Network, points at multiple mistakes and inaccuracies in researches, published by JSC Nenskra Hydro (implements NenskraHES construction project).

    Authors of the article consider that shortcomings in the plan on land acquisition, presented by the company, will cause respectively, significant damage to population of Zemo Svaneti region.


conflict and court

    TABULA: “NODIA ABOUT FINING OF ASLY: COURT VIOLATES THE CONSTITUTION FOR PROTECTION OF “THE BOYS””

    September 26, 2017 - Businessman Fady Asly was fined by 3,000 lari because of calling of the judge “corrupted”, Tabula reports.

    Political scientist Gia Nodia indicates that thus, the court “has opposed openly to principle of freedom of speech” and “is violating the Constitution”.


companies

    NETGAZETI.GE: “THE COMPANY, PROBABLY CONNECTED WITH BIDZINA IVANISHVILI, DEMANDS BEACH OF GREEN CAPE VERDE”

    September 29, 2017 - Company Business Development, which is probably connected with Bidzina Ivanishvili (billionaire ex-premier of Georgia), demands from Ajara government free handing over for 49 years of a beach on Green Cape, having area of 6,346 square m, with condition of cleaning, care and improvement, Netgazeti.Ge reports.

    The company plans direct acquisition of several more sites (2,333 square m) and the building (103.3 square m) on the adjacent territory with condition of investment of 2.5 million lari, the article specifies.


    FORBES GEORGIA: ““NEXIA TA GEORGIA” ORGANIZED CONFERENCE ON TRANSFER PRICING”

    September 27, 2017 - On September 20-21, auditor and consulting company Nexia TA Georgia held conference and seminar on principles of transfer pricing, the magazine reports.

    The article indicates that transfer pricing is new regulation in tax legislation and financial managers of Georgian companies declare that it represents certain challenge for them until now.


ecology & health

    NETGAZETI.GE: “VIOLATIONS OF “RMG GOLD”, WHICH HAD BEEN CONCEALED”

    September 28, 2017 - Referring to document, published by public group, Sakdrisi Committee, Netgazeti.Ge reports that inspection of activity of gold-mining RMG Gold’s enterprise in 2014-2016 has revealed dozens of violations and non-fulfilled obligations of the company.

    Netgazeti.Ge indicates that the document was prepared by the Ministry of Environment and Natural Resources Protection, but the Ministry itself “does not publish results of inspection and exact volume of the damage, inflicted to environment”.


finances & banking

    REZONANSI: “CREDITS HAVE ROSE IN PRICE AND WILL RISE IN PRICE AGAIN”

    September 29, 2017 - For the last 5 years, credits have rose in price for the first time, the newspaper says. By the end of the 3rd quarter of 2016, average annual interest rate on the short-term credits made up 16.8%, while today – 17%, on the long-term credits – respectively, 11.3% and 11.4%, the article specifies.


    REZONANSI: “AFTER DEVALUATION, DEBT OF POPULATION GREW IN UNPRECEDENTED PACE”

    September 26, 2017 - Within 2 years since devaluation of lari, “volume of credits in Georgia has grew catastrophically”, the newspaper states.

    In particular, as of August 1, consumer credits had totaled to 3.13 billion lari, increasing by 900 million lari since January 1, 2015, the article indicates.


agriculture & food

    NETGAZETI.GE: “DESPITE INCREASED EXPORT, GRAPES OF IS STILL LOW”

    September 25, 2017 - Georgia’s ex-premier, founder of ruling Georgian Dream, billionaire Bidzina Ivanishvili declared in 2012: “grape price should not be 1 lari, you know well, how many work grape requires and it is impossible that its normal price was 1 lari”.

    However, farmers still are unable to sell grapes of Rkatsiteli and Mtsvane (white varieties) for more than 70-80 tetri per 1 kg, the newspaper points.


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