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1. CO-INVESTMENT FUND WORKS ON TWO ENERGY PROJECTS
   (Daily News: February 17, 2015)

   Head of Co-Investment Fund Giorgi Bachiashvili said that the Fund works now on two energy projects. The matter concerns MtkvariHES and series of hydroelectric stations on river Tskhenistskali.

2. NINO GVENETADZE IS NAMED AS CANDIDACY FOR POST OF THE SUPREME COURT’S CHAIRMAN
   (Daily News: February 17, 2015)

   The President Giorgi Margvelashvili presented candidacy of Nino Gvenetadze to the Parliament’s approval for post of chairman of the Supreme Court.

   “We considered 28 candidacies and I want to tell that it was very difficult to make the decision, as there was a lot of worthy among considered persons”, the President declared.

3. Kviris Palitra: “10 MILLION CREDITS IN 1 YEAR – “IT’S DIFFICULT TO GET OUT OF THE DEBTOR’S PRISON””
   (Economic Press Monitor: February 16, 2015)

   The articel brings data as of February 9, according to which database of credit bureau Creditinfo has 8.524 million records, related to 1.995 million private individuals and 23,700 legal entities. Within a year, the number of records grew by more than 2 million.

4. Netgazeti.Ge: “THROUGH DEVALUATION OF LARI, BANKS GAIN PROFIT OF 23M LARI IN ONE MONTH”
   (Economic Press Monitor: February 13, 2015)

   The article brings data, according to which profit of commercial banks from conversion operations made up 5 million lari in last October and 5.514 million lari – in November.

   However, in December (when significant devaluation of lari was fixed), conversion operations brought banks a profit of 23.192 million lari.

5. Netgazeti.Ge: “BACHIASHVILI: CONSTRUCTION WORKS ON “PANORAMA TBILISI” ARE NOT CONDUCTED”
   (Economic Press Monitor: February 13, 2015)

   Head of Georgian Co-Investment Fund Giorgi Bachiashvili declares that Tbilisi City Hall will consider Panorama Tbilisi project in near future, while no construction works are underway at this stage. He made this statement in live show of Rustavi-2 broadcasting company.

6. Bankebi da Finansebi: “OUT OF 50,000 BEEKEEPERS, ONLY 0.4% ARE PROFESSIONALS”
   (Economic Press Monitor: February 13, 2015)

   In his interview with the newspaper, vice chairman of Georgian Beekeepers Guild Giorgi Kepashvili declares that “there is very high share of fake honey” on local market, exceeding 50%, while “it could be said regarding remained 50% that it does not meet the standards”.

   At that, out of 50,000 beekeepers, only 0.4% are professionals, while remained are amateurs, Kepashvili points.

7. IFC TO ALLOT $2M TO “TBILGVINO”
   (Daily News: February 12, 2015)

   International Finance Corporation (IFC, member of the World Bank group) will allot loan of $2 million to Georgian wine company Tbilgvino.

   As IFC said in the press release, spread today, the mentioned resource will facilitate jobs creation, growth of the state budget’s tax revenues and economic development of the country.

8. EXPORT PROMOTION INSTITUTE TO BE LAUNCHED IN APRIL ON BASIS OF PARTNERSHIP FUND
   (Daily News: February 12, 2015)

   Georgian government said that Export Promotion Institute will be launched on basis of Partnership Fund in April. Promotional events are planned for short-term increase of visitors’ number and encouragement of construction industry.

9. ECONOMY MINISTER: PROPERTY OF “GEORGIAN FILM” NOT TO BE ALIENATED
   (Daily News: February 11, 2015)

   Georgian Minister of Economy and Sustainable Development Giorgi Kvirikashvili stated that “No alienation of property of Georgian Film is planned”. “And what is more, we are trying to find mechanisms to manage this issue jointly”, Kvirikashvili told to journalists.

10. ECONOMY MINISTER: INFLOW OF TOURISTS IS DECREASED FROM THOSE COUNTRIES, WITH WHICH WE HAVE NO VISA REGULATIONS
    (Daily News: February 10, 2015)

    Minister of Economy and Sustainable Development Giorgi Kvirikashvili declared that “objective picture is that in January inflow of tourist is decreased from the countries with which we have no visa regulations”.

    Top three of main countries consists of Turkey, Azerbaijan and Armenia, said Kvirikashvili today, while speaking with press.

11. Rezonansi: “INVESTMENTS OF $1.15B ENTERED LAST YEAR”
    (Economic Press Monitor: February 10, 2015)

    Chairman of Investment Agency Giorgi Pertaia states that $1.15 billion was invested in Georgia in 2014.

    Sakstat’s data for three quarters of last year shows foreign direct investments of $924 million (annual data are not published yet).

12. AYFB: CAR INSURANCE MARKET IS VIRTUALLY UNTAPPED
    (Daily News: February 9, 2015)

    Association of Young Financiers and Businessmen (AYFB) pointed that car insurance market is virtually untapped. In this connection, the Association calls the government to speed up maximally initiation of law “On Compulsory Liability Insurance of Vehicle Owners” in the Parliament.

13. Kviris Palitra: ““ASPHYXIATING GAS” FOR ECONOMY? – WHAT WILL FOLLOW TO RISE OF GAS PRICE”
    (Economic Press Monitor: February 9, 2015)

    While commenting on possible increase of gas price for commercial consumers, real member of Georgian Energy Academy Giorgi Tavadze points that “Reason for this action, unfortunately, really exists”.

    “Lari rate against the US dollar has decreased by 22 tetri, by 12%”, Tavadze stresses (upon change of exchange rate by 10%, distributor companies have a right to increase gas price).

14. ECONOMY AND ENERGY MINISTERS HELD MEETING ON ECONOMIC COOPERATION IN UKRAINE
    (Daily News: January 30, 2015)

    Georgia’s Minister of Economy and Sustainable Development Giorgi Kvirikashvili and Energy Minister Kakha Kaladze, being with visit in Ukraine, met Ukrainian Minister of Economic Development and Trade Aivaras Abromavicius.

    As Georgian Economy Ministry reported, the sides discussed issues of trade and economic cooperation between Georgia and Ukraine.

15. PRESIDENT OF NBG CONSIDERS JUSTIFIED TO DECREASE ECONOMIC GROWTH FORECAST
    (Daily News: January 30, 2015)

    Giorgi Kadagidze, president of National Bank of Georgia (NBG), declared that “it is necessary to start reconsideration of economic growth forecast of 5% in terms of its downgrade”.

    The president of NBG stressed that this opinion is grounded by “challenges, existing in economy today, and is based on analysis of figures and data, which we have today”.

16. TOUGHENING OF MONETARY POLICY TO START FROM THE NEXT WEEK
    (Daily News: January 30, 2015)

    “We decided to start toughening of monetary policy from the next week”, president of National Bank of Georgia (NBG) Giorgi Kadagidze declared.

    Kadagidze has said the mentioned at the special briefing on recent economic developments, which he held today.

17. LARI RATE PASSED LEVEL OF 2 GEL/USD
    (Daily News: January 28, 2015)

    Official rate of lari, established by National Bank of Georgia (NBG) for January 28, has passed psychological level of 2 GEL/USD and made up 2.0144 GEL/USD, while dropped to 2.0311 GEL/USD for January 29 (NBG establishes the rate on about 17:00 daily, which is effective for the next day).

    Last time, such low exchange rate of national currency was fixed in early April of 2004.

18. Tabula: “KADAGIDZE: THE MAIN THING IS THAT DEVALUATION OF LARI NOT TO GROW INTO TOTAL PRICE INCREASE”
    (Economic Press Monitor: January 28, 2015)

    Giorgi Kadagidze, president of National Bank of Georgia (NBG), declares that “the main goal of NBG today is not to (allow) grow of lari devaluation towards dollar into total price increase”.

    “In case, if we see that inflationary expectations, existing in public today, have grown or there is a risk of growth into substantial price increase, we will conduct for sure the appropriate policy and we will have an adequate response”, Kadagidze notes.

19. Rezonansi: “LARI IS AT THE BOTTOM, THERE WILL BE NO PANIC DROP ANYMORE”
    (Economic Press Monitor: January 27, 2015)

    The survey conducted on the newspaper’s web site, 73% of respondents named “Georgia’s weak economy” and “the government’s wrong economic policy” as main reasons for devaluation of national currency.

    In January, lari has lost already 6% of its value, while during last year, national currency has devaluated by 12.6%, the newspaper reports.

20. Bankebi da Finansebi: “THE ONLY COMPETITION-DRIVING FORCE ON THE MARKET IS “BEELINE” COMPANY”
    (Economic Press Monitor: January 23, 2015)

    Giorgi Tkeshelashvili, director general of LLC Mobitel (communication company, operating under Beeline brand), speaks about prospects of 4G internet in his interview with the newspaper. In respective auction, announced by the regulatory commission, only his company had taken part.

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