Economic Press Monitor

IN THIS ISSUE:

“Due to shortage of strategic investors, energy sector in Georgia is developing mainly with budget expenditures and liabilities or through ungrounded concessions to “investors” (perpetuity, guarantees of power purchase, exemption from network expenditures, etc.)”, the magazine says.

The article also points that “Without transparent and competitive market, economic agents appear under influence of gas distributor/supplier companies, which determine by their own a fee for natural gas”.

International holding ID Finance is represented under trademark MoneyMan in 7 countries, including Georgia, where it appeared two years ago, the magazine says.

By the moment, investments of online loans company MoneyMan on Georgian market have reached $19 million, while growth exceeds 600%, the article states.

According to draft budget-2017, funding of legal entities of public law (LEPL) and non-commercial (non-entrepreneurial) legal entities will amount to 1.86 billion lari, of which 946 million lari are the budgetary funds (growth – 37%), the magazine reports. Remained 914 million lari is own income of the mentioned organizations.

Akaki Zoidze, #6 of Georgian Dream’s parliament list and Deputy Healthcare Minister in 1997-2001, believes that cancelation of labor inspection in 2006 was a mistake, the newspaper reports.

Zoidze says that labor inspection “did not have real influence on labor safety protection, it was turned into source of corruption, collector of illegal briberies.