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Economic Press Monitor

October 25 - 31, 2020

Previous Issues:  Days: < 17 24 31 07 14 > 

 

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economic & politics

    REZONANSI: “WE HAVE TO FORGET TOURISM, IT IS POSSIBLE TO RESTORE ECONOMY WITHOUT IT”

    October 30, 2020 - Beka Liluashvili, economic adviser to Georgian Prime Minister, said that the country’s economic reduction because of COVID-19 pandemic was 17% at first, then decreased to 5.1% in August, and will make up approximately 1.5% in September. Other sectors overcame negative results of the tourist industry, he indicated, noting: “Naturally, it’s impossible to balance that completely, but positive results are evident”.


    TABULA: “ABANDON ALL HOPE, YE WHO ENTER HERE – 8 YEARS OF “DREAM” IN ECONOMY”

    October 30, 2020 - As the article indicates, 8-year ruling of Georgian Dream showed that the authorities appeared the most unsuccessful in economic part.

    Certainly, there was fragmentary progress, but after 8 years, it is clear that rate of economic growth very much decreased, income of considerable part of the population declined, while standard of living practically did not improve, the article specifies.


    BANKEBI DA FINANSEBI: “GIORGI SIORIDZE: GURIA IS THE ONLY REGION, WHICH HAS SHOWED NEGATIVE INDICATOR OF FOREIGN INVESTMENTS – GURIA REALLY DOES NOT INTEREST THE AUTHORITIES”

    October 29, 2020 - In the 2nd quarter, Guria region had negative showing of foreign direct investments of $215,000, oppositional political association Lelo for Georgia’s majoritarian deputy from the region Giorgi Sioridze says. He stresses that Guria is the only region in Georgia, where this indicator is negative.


    REZONANSI: “RESTAURANTS AND HOTELS COLLECTED BIG INDEBTEDNESS – “IF WE DO NOT WORK, FROM WHAT WILL WE PAY?””

    October 29, 2020 - In the conditions of COVID-19 pandemic, HoReCa sector collected considerable debt to distribution companies, the newspaper reports.

    As the article notes, distribution companies are unable to collect debt so far, as because of the government-imposed restrictions on tourism sector, HoReCa actually does not gain income.


    REZONANSI: “WE SHOULD NOT HOPE MORE FOR FOREIGN INVESTMENTS – “MODEL CHANGES IN THE WORLD AND WE HAVE NOT REMAIN IN THIS BOG!””

    October 28, 2020 - In 2020, foreign direct investments will be reduced globally by 30-40%, while because of the second wave of COVID-19, decline could make even 50%, the newspaper says.

    In Georgia, investments already decreased in the country in recent years, while because of COVID-19, capital investment sharply decreased, the article specifies.


    TABULA: “ON THE RIGHT OR ON THE LEFT: WHAT ECONOMIC VIEWS OF PARTIES ARE?”

    October 28, 2020 - Referring to survey of International Republican Institute (IRI), Tabula indicates that 72% of Georgian population considers economic vision as one of two most important components in election programs of political parties.

    Based of digital platform Election Compass Georgia, the article reviews economic views of major Georgian parties.


    BANKEBI DA FINANSEBI: “GOTSIRIDZE – THEY LET LARI GO, THEY LET PRICES GO, THEY LET VIRUS GO, THEY LET TERRORIST GO, WHILE THE COUNTRY COLLAPSED”

    October 28, 2020 - They let lari go, they let prices go, they let virus go, they let terrorist go, while the country collapsed – this power must go, the chairman of parliamentary fraction National Movement Roman Gotsiridze declared to journalists.

    Gotsiridze indicated that no system, including a law-enforcement system, works in the country.


    TABULA: “VIEWS OF PARTIES ON MAJOR ISSUES”

    October 27, 2020 - Tabula publishes vision of 7 opposition parties on the major issues, to be addressed in the country. Among these parties are United National Movement (UNM), European Georgia and Strategy Agmashenebeli (Giorgi Vashadze).


    REZONANSI: “SITUATION IS GRAVEST: BUSINESS COULD HAVE TO ANNOUNCE INTERNAL LOCKDOWN”

    October 26, 2020 - The article states that if scales of COVID-19 spread increase, it is expected that relatively competitive companies will survive, but will be forced to cut staff.

    Some time ago, representatives of Georgian Business Association requested delay for 6 months of credits’ payments and prolongation of tax benefits, the newspaper reports.


macroeconomics & budget

    REZONANSI: “WHEN AND HOW EXACTLY THE SECOND STAGE OF MUNICIPAL PAYMENTS BILLS’ SUBSIDIZING WILL BEGIN”

    October 27, 2020 - Since November 1, the second stage of municipal bills’ subsidizing begins, the newspaper reports. Similarly to the first stage, privilege will apply to consumers, who consume up to 200 kWh of electric power and up to 200 cubic m of gas a month, the article specifies.


energy, oil & gas

    FORBES GEORGIA: “ONE STEP FORWARD TO OPEN ENERGY MARKET”

    October 27, 2020 - David Narmania, chairman of Georgian National Energy and Water Supply Regulating Commission, surveys current processes in power industry.

    The Commission approved rules of separation of distribution system operators, which oblige licensees of electric power distribution to separate their activity, Narmania points.


companies

    FORBES GEORGIA: “GIORGI MEGRELISHVILI IS APPOINTED FINANCE DIRECTOR IN “TBC””

    October 30, 2020 - On October 28, Giorgi Megrelishvili was appointed deputy director general and finance director in TBC Bank, the magazine reports.

    As the article notes, Megrelishvili joined the bank, occupying position of deputy finance director, in this March.


    FORBES GEORGIA: “CANADIAN COMPANY ACQUIRED STAKE OF 50% IN GOLD MINING COMPANY IN BOLNISI”

    October 29, 2020 - Canadian company Candelaria acquired stake of 50% in GMC Investment Limited, the magazine reports. The article specifies that GMC Investment Limited is parent company of Georgian Copper&Gold, which is engaged in gold mining in Bolnisi district (Kvemo Kartli region).


international cooperation

    BANKEBI DA FINANSEBI: “TOP-3 OF PRODUCTS, WHICH WE BUY AND SELL IN THE US”

    October 26, 2020 - In January-August, Georgia’s export to the US made up $40.16 million, while import from this country – $345.46 million, the newspaper reports.

    Referring to Sakstat, the article specifies that largest article of Georgia’s import from the US for this period were poultry meat and by-products – $4.11 million.


ecology & health

    TABULA: “LATE AMBULANCE AND INSUFFICIENT BEDS – HOW THE GOVERNMENT MANAGES THE VIRUS”

    October 30, 2020 - Georgian government insists that it controls the situation, however, as it appeared, the country’s healthcare sector does not control sufficiently growth of COVID-19 infection, Tabula says.

    Relatives of infected tell that clinics do not accept even heavy patients because of insufficient beds’ number, while some tell that patients with high temperature expect arrival of ambulance for 3-4 days, the article specifies.


    NETGAZETI.GE: “WE HAVE 27,000-28,000 UNEMPLOYED DOCTORS, WE CAN RETRAIN THEM – GAMKRELIDZE”

    October 28, 2020 - Amiran Gamkrelidze, head of Georgian National Center for Disease Control and Public Health, says that about 19,000 doctors and approximately up to 17,000 nurses are actively employed in Georgia.

    Besides, Gamkrelidze notes that there are 27,000-28,000 certified doctors in the country, who “have medical education and are not employed”.


    REZONANSI: “32,127 COVID PATIENTS IN GEORGIA – MEDICAL STAFF MAKES UP OVER 5% OF INFECTED”

    October 28, 2020 - With 32,127 infected registered in Georgia since the beginning of COVID-19 pandemic, the country moved on the 84th place in the world, the newspaper reports.

    Epidemiologists say that the most vulnerable group during pandemic is medical staff.


finances & banking

    BANKEBI DA FINANSEBI: “BANKS WILL OFFER RESTRUCTURING TO REPRESENTATIVES OF VARIOUS BUSINESS SECTORS WITH SCHEDULE, FAVORABLE TO THEM”

    October 27, 2020 - Alexander Dzneladze, president of Georgia Banks Association, declared that in respect of credits, “really, there will be no more unified general delay, which was offered during the previous period”.

    “In connection with restructuring, banks already expressed readiness to work with all individually and to offer restructuring according to that schedule, which schedule will be favorable for them”, Dzneladze said on air of Public Broadcaster.


    KVIRIS PALITRA: “WHO WILL CLOSE SEASON OF BANK-HUNT”

    October 26, 2020 - The newspaper recalls robbery of Georgian banks’ branches in 2015-2019. The article notes that there is no official statistics, showing how many times robbers attacked banks’ branches during any specific period, as these data are collected in general crime statistics.


agriculture & food

    REZONANSI: “THE GOVERNMENT HAS TO INSURE BREAD PRICE! – OTHERWISE, PRICE GROWTH IS INEVITABLE”

    October 29, 2020 - Because of growth of wheat price on international market, subsidizing of grain could became already really topical in Georgia, the newspaper says.

    Georgian Association of Wheat and Flour Producers says that after September, wheat price increased by 30% on average.


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