Search Results

1. Bankebi da Finansebi: “THE LOWER IS PERSON’S INCOME, THE MORE SHARE IN SPENDINGS OCCUPIES FOOD”
   (Economic Press Monitor: May 3, 2012)

   Expert Soso Archvadze says that the lower income a person has, the greater share in spending is occupied by food, which prices are increased faster.

   Archvadze points that prices have been increased by 80-85% in Georgia through 2010.

2. EFFECTIVE EXCHANGE RATE STRENGTHENED BY 1.6% IN Q4 OF 2011, WHILE NOMINAL ONE – BY 2.6%
   (Daily News: March 28, 2012)

   In the 4^th quarter of 2011, effective exchange rate strengthened by 1.6%, while nominal one – by 2.6%, National Bank of Georgia (NBG) reported.

   NBG’s report named several factors, which caused lari strengthening, including revenues from tourism and remittances, transfered from abroad.

3. ILIA UNIVERSITY STUDY: EUROPEAN FINANCIAL CRISIS HAS LITTLE INFLUENCE OVER REMITTANCES TO GEORGIA
   (Daily News: February 23, 2012)

   According to Economic Research and Consultation Center of Ilia University, financial crisis in Europe has less impact on Georgian labor migrants, being working there, as well as their remittances to Georgia.

   As the Center’s study says, growth of remittances volume was fixed in 2011 for countries, being in crisis: Greece – by 40%, Italy – 43%, Spain – 14%, Portugal – 62%.

4. NBG: LARI DEVALUATION IS KEY THEORETICAL RISK FOR BANKING SYSTEM STABILITY
   (Daily News: January 13, 2012)

   According to National Bank of Georgia’s (NBG) analysis, key theoretical risk for Georgian banking sector stability is devaluation of lari, caused by high rate of dollarization.

   Despite different negative economic shocks, adequacy of financial system’s capital does not exceed the permitted norm, NBG said.

5. Bankebi da Finansebi: “CURRENCY INTERCHANGE WILL REDUCE USAGE OF NATIONAL CURRENCY, CAUSING LARI DEVALUATION”
   (Economic Press Monitor: July 20, 2011)

   The government had discussed informally a proposal to allow multi-currency usage in the country, the newspaper reports. In their turn, the experts point at negative and positive sides of multi-currency policy.

6. Bankebi da Finansebi: “CURRENCY RISKS WILL BE EQUALLY DISTRIBUTED BETWEEN BANK AND CLIENT”
   (Economic Press Monitor: May 27, 2011)

   New rule on provision of information to clients by the bank will enter into force since June 1.

   Namely, in parallel with the standard rate of interest, effective rate will be written in deposit and loan agreements also, which will include additional expanses of client (insurance, notary service).

7. BLITZ-SURVEY: STRENGTHENING OF LARI
   (Daily News: April 14, 2011)

   Compared with the start of year, official rate of lari had strengthened by April 11 by 7.2% (1.6454 GEL/USD instead of 1.7736 GEL/USD on January 3. However, on April 14 it was fixed at 1.6672 GEL/USD).

8. Bankebi da Finansebi: “INFLATION IN GEORGIA – SCALES, POSSIBLE FUTURE DEVELOPMENT AND RECOMMENDATIONS FOR THE GOVERNMENT”
   (Economic Press Monitor: February 2, 2011)

   The newspaper has established a round table, gathering economic experts, non-governmental organizations, political parties and other groups in order to discuss proposals and projects for inflation suppression.

   former vice president of National Bank of Georgia (NBG) Merab Kakulia considers that NBG has to make a pause now in tightening of monetary policy, while continue only sterilization measures.

9. Rezonansi: “POSITIVE AND NEGATIVE SIDES OF LARI STRENGTHENING”
   (Economic Press Monitor: November 18, 2010)

   In connection with recent strengthening of lari, Irakli Kovzanadze, doctor of the Economics, regards that National Bank of Georgia (NBG) acts correctly, when tries to influence over the inflation and to suppress it.

   At the same time, the expert considers that Georgian economy of today needs other views and approaches.

10. Bankebi da Finansebi: “INCOME INFLATION AND ARTIFICIAL STRENGTHENING OF LARI”
    (Economic Press Monitor: November 17, 2010)

    Association of Young Financiers and Businessmen criticizes activities, which aim inflation suppression and lari strengthening. The Association recommends the government to work out 8-month emergency economic program.

11. NBG HAS INCREASED MONETARY POLICY RATE TO 7.5%
    (Daily News: October 28, 2010)

    According to the National Bank of Georgia (NBG), Monetary Policy Committee decided yesterday to increase monetary policy rate from 7% to 7.5%.

    NBG noted that increase of wheat price on world markets caused respective growth of cost of consumer basket’s essential components in Georgia.

12. Kviris Palitra: “WHY LARI HAS STRENGTHENED”
    (Economic Press Monitor: October 4, 2010)

    National currency has strengthened due to US dollar devaluation, the newspaper notes. National Bank of Georgia establishes lari rate corresponding to averaged rate of euro and US dollar.

13. Rezonansi: “LARI LAUNCHED SHARP STRENGTHENING INSTEAD OF DEVALUATION”
    (Economic Press Monitor: September 23, 2010)

    National currency started strengthening recently; however, the experts expect lari devaluation on the background of import share growth by the end of the year.

    According to expert Emzar Jgerenaia, current strengthening of lari is conditioned by euro strengthening against the US dollar.

14. Bankebi da Finansebi: “GEORGIA LEFT THE ROAD OF LIBERAL ECONOMIC BUILDING”
    (Economic Press Monitor: July 7, 2010)

    Akaki Tsomaia, economic expert and associated professor of Ilia State University, comments on new Tax Code in an interview with the newspaper. The expert also reviews the issue of lari devaluation in June.

15. Kviris Palitra: “NATIONAL BANK'S GOAL IS NEITHER FLUCTUATION OF CURRENCY RATE NOR ITS STRENGTHENING”
    (Economic Press Monitor: July 5, 2010)

    While commenting on recent fluctuations of lari, Archil Mestvirishvili, vice president of National Bank of Georgia (NBG), declares in an interview with the newspaper that NBG’s goal is neither fluctuation of currency rate nor its strengthening or weakening. He notes that short-term rate fluctuations will be also possible in future, and that this is quite a normal event.

16. Rezonansi: “RAPIDLY DEVALUATED LARI STRENGTHENS RAPIDLY AS WELL”
    (Economic Press Monitor: June 25, 2010)

    Sharp drop of lari was happened after elections, though its rate started strengthening for the last few days. However, products, which got expensive due to national currency devaluation, did not decrease in price yet.

17. “PSP”: DRUG PRICES DECREASED BY 4% DURING LAST 2 WEEKS
    (Daily News: June 24, 2010)

    According to Gocha Gogilashvili, director of pharmaceutical company PSP, drug prices had decreased by 4% during last 2 weeks.

    Gogilashvili declared on the news briefing today that his company had to increase prices because of lari devaluation in the beginning of June, noting that exchange rate is stable for last several days and that is reflected on prices.

18. NBG PRESIDENT: LARI IS NOT ONLY STABILIZED, BUT ALSO GETTING STRONGER
    (Daily News: June 24, 2010)

    As president of National Bank of Georgia (NBG) Giorgi Kadagidze declares, lari is not only stabilized, but also getting stronger, despite non-interference of NBG in currency market for the last week. It confirms that lari drop in the first half of June was conditioned by the feverish actions, he notes.

19. Bankebi da Finansebi: “IRAKLI KOVZANADZE: “LARI DEVALUATION CAUSES GROWTH OF EXPENDITURE AS WELL AS REVENUES OF THE BUDGET””
    (Economic Press Monitor: June 18, 2010)

    Doctor of Economics Irakli Kovzanadze forecasts in an interview with the newspaper that lari devaluation will continue through a long-term period. The other question is whether it will be carried out sharply or not, he notes.

20. Rezonansi: “THE WORLD EXPECTS FOOD PRICE RISE BY 40%”
    (Economic Press Monitor: June 17, 2010)

    According to the UN, the cost of food will increase by 40%. In Georgia, price growth is mainly connected to the August War 2008 and impact of the world financial crisis.

Pages:

26  27  28  29  30  31