Economic Press Monitor

IN THIS ISSUE:

Dimitri Kumsishvili, Minister of Economy and Sustainable Development, declared that “For the moment, we all have agreed that financial supervision will be maintained under authority of National Bank of Georgia”.

The magazine reminds that because of bill, worked out by chair of the Parliament’s Fiscal Committee Tamaz Mechiauri, Financial Supervisory Service was separated this year from NBG.

As stated in the article, Agriculture Ministry together with donor organizations (PAFAI and FAO) is working on new financial tool, so called “Warehouse Check”. Pilot project is planned to launch by the end of the year.

It is true that number of state enterprises has sharply decreased and National Agency of State Property manages now 171 companies, but there is still much to cancel, the newspaper states.

Gigla Mikautadze, co-founder and director of Taxpayers Union, notes: “Despite that there is a number of critical conclusions of State Audit concerning state-owned companies, the the Parliament does not show any reaction”.

According to forecast of Zenithoptimedia, internet advertising would gradually replace printing media in future.

However, in Georgia, online advertisement costs amounted to $1.2 million in 2012, making up only 2% of total advertisement expenditures.