Search Results

1. Netgazeti.Ge: “KVIRIKASHVILI: LARI DEVALUATION IS A RESULT OF OIL PRICE DROP AND DOES NOT HAVE INTERNAL ROOTS”
   (Economic Press Monitor: January 27, 2016)

   Georgia’s Prime Minister Giorgi Kvirikashvili declares that current devaluation of lari “is the direct result of devaluation, which is underway in our neighbor countries because of oil price drop”. “There is no any internal reason of it”, he assures.

2. Tabula: “KUMSISHVILI: INTERVENTION WITH RESERVE IS THE ONLY INSTRUMENT, WHICH WE HAVE”
   (Economic Press Monitor: January 27, 2016)

   While commenting on lari devaluation, Economy and Sustainable Development Minister Dimitri Kumsishvili pointed that intervention with reserves “is the instrument, which the state has in a short-term period”. “There is no other one”, he said.

3. OPPOSITION PARTY CALLS THE GOVERNMENT TO WORK OUT ANTI-CRISIS PLAN
   (Daily News: January 12, 2016)

   United National Movement (UNM) calls the government to work out an anti-crisis plan. Otherwise, opposition party forecasts that lari rate would depreciate even more, “as reserves of National Bank will not stop devaluation”.

4. OIL-PRODUCTS IMPORTERS’ UNION: QUALITY IMPROVEMENT AND STATE AND PUBLIC CONTROL ARE PLANNED FOR 2016 IN TERMS OF FUEL
   (Daily News: December 30, 2015)

   As Oil-Products Importers’ Union pointed, fuel quality improvement and implementation of state and public control over it are planned for 2016 in terms of.

   In particular, the country adopts Euro-5 standard of petrol, while in terms of diesel fuel, the standard will be the highest quality mark, being observed for past years, the Union said.

5. Bankebi da Finansebi: “THE MOST DIFFICULT YEAR FOR ECONOMIC APPEARED SUCCESSFUL FOR BANKS”
   (Economic Press Monitor: December 30, 2015)

   Economic downturn and devaluation of national currency did not affected negatively performance of commercial banks, the newspaper says. The sector is expected to fix record profit this year, the article states.

6. Rezonansi: “THE MOST NEGATIVE – DEVALUATION, POSITIVE – AGRICULTURE DEVELOPMENT”
   (Economic Press Monitor: December 29, 2015)

   The newspaper considers that 2015 was particularly hard year for economic.

   The article brings comments of experts Emzar Jgerenaia, Paata Sheshelidze, Giorgi Gaganidze and Vakhtang Charia, who name lari devaluation as the most negative factor of the year.

7. Kviris Palitra: “A HYBRID 2015 YEAR”
   (Economic Press Monitor: December 28, 2015)

   2015 year was quite difficult year from economic point of view, the newspaper states. Among economic shortcomings, the article names lari devaluation, price growth, increase of credit cost and difficulty to cope with expenditures with existing revenues.

8. Rezonansi: “BORROWERS HAD LOSS OF 2.7B LARI DUE TO LARI DROP”
   (Economic Press Monitor: December 22, 2015)

   As the newspaper points, lari has depreciated by 36.3% during a year, current exchange rate is ranging within 2.39-2.4 GEL/USD.

   If a borrower got banking credit in foreign currency before start of devaluation, it means that he/she should return by 1/3 more now, the newspaper explains, noting: because of this, timely repayment of a credit may become complicated.

9. Bankebi da Finansebi: “MEDICINES IN GEORGIA MAY DECLINE IN PRICE”
   (Economic Press Monitor: December 17, 2015)

   Labor, Healthcare and Social Protection Ministry is working on expansion of generic drugs’ segment on pharmaceutical market. Drugs’ prices should decline through entry of new companies, manufacturing economy-packed medicines, the newspaper states.

10. Bankebi da Finansebi: “CHRONICLES OF UNDECLARED BETRAYALS AND 41 SHADOWS OF GREY KADAGIDZE”
    (Economic Press Monitor: December 14, 2015)

    Economic expert Mikheil Dundua points that IMF mission declares support to “National Bank of Georgia (NBG) only in terms of maintenance of floating lari rate and limited spending of international reserves”.

    Regarding financial stability policy, Dundua says that IMF “diplomatically avoids estimations as there is already the 3^rd year that NBG fails to fulfill IMF’s requirements and does not create financial stability report”.

11. Rezonansi: “PEOPLE ARE ON THE VERGE OF DEFAULT, WHILE COMMERCIAL BANKS FACE BIG PROBLEMS”
    (Economic Press Monitor: December 8, 2015)

    Because of costs, increased behind devaluation of lari and inflation, most of people cannot pay banking credits, the newspaper states.

    The article brings data, according to which volume of overdue credits increased in 11 months of this year by 141.4 million lari (i.e. by 56.2%), making up 393.2 million lari (year-on-year growth – about 50%).

12. NBG PRESIDENT: INFLATION SLIGHTLY EXCEEDED A TARGET, BUT IT WAS PREDICTABLE
    (Daily News: December 7, 2015)

    President of National Bank of Georgia (NBG) Giorgi Kadagidze declared that inflation slightly exceeded a target, noting however that it was predictable.

    “According to our forecast, inflation will continue slight growth before the 1^st quarter of the next year and will return to the target in the second half of the year”, Kadagidze said.

13. “TBC CAPITAL”: LARI’S DEVALUATION TOWARD THE US DOLLAR MADE UP 27.4% IN 9 MONTHS
    (Daily News: November 30, 2015)

    TBC Capital reported that during 9 months of the year, lari has lost 27.4% against the US dollar, 15.4% against the euro and 1.3% against Turkish lira. For the same period, real effective exchange rate of lari has decreased by 9.0%, the company said.

14. MARGIN TARIFFS ON WATER SUPPLY SET FOR “RUSTAVI WATER”
    (Daily News: November 26, 2015)

    At the meeting today, Georgian National Energy and Water Supply Regulatory Commission has set margin tariffs on water supply for LLC Rustavi Water (water and sewerage company of Rustavi).

    The Commission set tariffs for this company for the first time, as so far, the company operated according to tariffs, determined by Rustavi self-government.

15. Rezonansi: “THERE IS HIGH PROBABILITY OF FUEL PRICE DECLINE IN GEORGIA”
    (Economic Press Monitor: November 24, 2015)

    Vano Mtvralashvili, chairman of Oil-Products Importers Union, indicates that fuel price on global market has never stood at such a low level since 2009.

    Regarding local market, Mtvralashvili says that “Overall, fuel has cheapened by 30-35 tetri.

16. Forbes Georgia: “WHETHER LARI RATE IS STABILIZED?”
    (Economic Press Monitor: November 20, 2015)

    Lari exchange rate for the last month ranged within 2.39-2.40 GEL/USD. This range of fluctuation is normal for the country with free exchange rate regime, the magazine says.

17. Forbes Georgia: “WHY DOES GEORGIA’S DEBT QUICKLY RAISE?”
    (Economic Press Monitor: November 13, 2015)

    Significant growth of Georgia’s debt in 2014-2015 was caused by lari devaluation and growth of domestic debt, the magazine says, specifying that as foreign debt is fixed in foreign currency, it has increasing in lari expression, when lari depreciates.

    Regarding domestic debt, the magazine says that new government has borrowed more than 1 billion lari from 2013.

18. Tabula: “WHY “UNM” DOES NOT SUPPORT STATE BUDGET-2016”
    (Economic Press Monitor: November 12, 2015)

    Oppositional United National Movement (UNM) will not support draft of the state budget-2016 upon voting in the Parliament.

    Despite the government’s promise, the budget does not envisage pensions’ growth on background of increased utility bills, raised prices on drugs and food staff, UNM says.

19. Rezonansi: “LAST YEAR’S ECONOMIC SHOCK WILL NOT BE REPEATED THIS YEAR”
    (Economic Press Monitor: November 12, 2015)

    Expert Soso Archvadze supposes that in Georgian economic, “situation will be relatively calm before the end of year”.

    2015 was not enviable year from economic point of view, while coming year will be more dynamic, expert thinks.

20. NBG: INFLATION WILL BE ABOVE TARGET LEVEL IN EARLY 2016
    (Daily News: November 4, 2015)

    Current forecast of National Bank of Georgia (NBG) expects maintenance of inflation rate above target level in early 2016.

    Afterwards, inflation will start decreasing and will reach target level of 5% in the second half of 2016, NBG says.

Pages:

1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20