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1. Forbes Georgia: ““FINCA”’S BANKING TRANSFORMATION”
   (Economic Press Monitor: October 13, 2016)

   FINCA Bank Georgia is distinguished with high larization of portfolio, the magazine points. If most of local banks have 60-65% of their portfolio in foreign currency, this bank has the same ratio, but in favor of lari, stated in the article.

2. Rezonansi: “AFTER ELECTIONS, NOTHING COULD STOP PRICE INCREASE”
   (Economic Press Monitor: October 11, 2016)

   Importers say that almost all products’ prices will increase by 10-15% in 2-3 weeks, the newspaper reports. Price growth will apply to local production also, being caused by seasonal changes, the article notes.

3. ECONOMY MINISTER: THERE IS NO MACROECONOMIC REASONS FOR LARI DEVALUATION
   (Daily News: October 7, 2016)

   Dimitri Kumsishvili, Minister of Economy and Sustainable Development, pointed that “expectations have serious influence on currency rate and it is pity that somebody creates expectations, as if lari is to be devalued”. “Macroeconomically, there are absolutely no reasons for this”, he stressed.

4. Tabula: “BOKERIA: NBG REDUCES PRESSURE ON LARI BY INTERVENTIONS, BUT KEY PROBLEM IS THE BUDGET”
   (Economic Press Monitor: October 7, 2016)

   “Expenditures of the budget are increasing faster than revenues and this happens behind economic crisis and stagnation”, declares Giga Bokeria, one of United National Movement’s leaders. “This will be balanced on the expense of lari devaluation”, he points.

5. Rezonansi: “BEFORE ELECTIONS, LARI MOVES TOWARD ABYSS”
   (Economic Press Monitor: September 28, 2016)

   The newspaper points that despite the government’s forecast on exchange rate of 2.20 GEL/USD before end of the year, the rate has reached already 2.34-2.35 GEL/USD by the end of September. In the early September, the rate ranged around 2.28-2.29 GEL/USD, the newspaper reminds.

6. Tabula: “GEORGIA’S EXPORT WENT DOWN TO THE LEVEL OF 2011”
   (Economic Press Monitor: September 27, 2016)

   According to Sakstat, Georgia’s export for 8 months of the year has amounted to $1.3 billion, which is the lowest mark for the last 5 years, the magazine states. Reduction of export is fixed for cars (by 17%), drugs (by 23%), mineral waters (by 8%).

7. Netgazeti.Ge: “CLOSED TV PROGRAMS AND LAWSUITS ON TV COMPANIES’ OWNERSHIP – MEDIA FROM 2012 UNTIL THE PRESENT”
   (Economic Press Monitor: September 23, 2016)

   TI Georgia, Georgian branch of Transparency International, has released a summary report on changes, observed in Georgian media from 2012 until the present.

   During these 4 years, changes were observed on advertisement media market, owners of some TV companies were changed, popular programs were shut down and cases of pressure on journalists had took place, the newspaper points.

8. Tabula: “MARGIN OF PRESCRIPTION DRUGS EXCEEDS TWICE MARGIN OF OVER-THE-COUNTER DRUGS”
   (Economic Press Monitor: September 21, 2016)

   Research, conducted by international fund Curatio, showed that during 2009-2012, prices of original brands’ medications were tended to decrease, while starting from 2014, because of lari devaluation and introduction of prescription regulation, prices started growth again.

   “Supposedly, insufficient facilities for introduction of prescription regulation had allowed pharmaceutical companies to use receipts for growth of financial profit”, the Fund points.

9. Rezonansi: “LARI IS DOING A SLOW BURN”
   (Economic Press Monitor: September 13, 2016)

   Economist Mikheil Dundua believes that there are no economic grounds for lari devaluation. “Lari will start stabilization after elections”, he declares, adding: “I do not really expect devaluation”.

10. Tabula: “VOLUME OF BANKS’ OVERDUE LOANS INCREASED BY 14.3%”
    (Economic Press Monitor: August 12, 2016)

    National Bank of Georgia reported that as of July 1, volume of overdue loans in commercial banks reached 374 million lari, increasing by 14.3% year-on-year.

    Loan portfolio of Georgian banks totals to 16.5 billion lari, of which overdue loans account for 2.2%, the magazine notes.

11. Tabula: “COST OF DOMESTIC BORROWING DECREASED FOR THE GOVERNMENT”
    (Economic Press Monitor: August 11, 2016)

    One-year treasury bonds of 45 million lari were sold through auction on August 10. As the magazine points, annual yield made up 6.13%, against of over 11% just several months ago.

12. NBG: INFLATION WILL REMAIN BELOW THE TARGET IN THE NEXT QUARTERS
    (Daily News: August 4, 2016)

    According to latest (August) forecast of National Bank of Georgia (NBG), rate of inflation will remain lower than target during the next quarters (in July annual inflation made up 1.5%).

    Similarly to the 2^nd quarter, that will be caused by aggregate demand, weaker than potential one, and reduced inflationary expectations, NBG specified.

13. Rezonansi: “LARI RATE WILL HAVE BIGGEST IMPACT ON ELECTIONS”
    (Economic Press Monitor: August 2, 2016)

    According to results of survey, which the newspaper conducted on own web site, lari devaluation “will have big impact” on voters’ political decision.

    Besides, 34.3% thinks that the devaluation “will have partial impact” and only 12.5% believes that this will not have any impact on voters’ political decision.

14. Tabula: “GOTSIRIDZE ON NDI: RESULTS REFLECT GRAVEST ECONOMIC SITUATION OF THE COUNTRY”
    (Economic Press Monitor: July 28, 2016)

    While commenting results of study, conducted by order of National-Democratic Institute (NDI), member of United National Movement Roman Gotsiridze declares: “4-year operation of this government showed that economy is in gravest situation”. “This is reflected exactly in those results, which we have by this study”, he pointed.

15. Tabula: “KIKORIA: DE-DOLLARIZATION POLICY SHOULD INCREASE CREDITS, ISSUED IN LARI”
    (Economic Press Monitor: July 27, 2016)

    Murtaz Kikoria, director general of Sakartvelos Banki (Bank of Georgia), points that requirements, set on minimal reserves of commercial banks, “are tools that National Bank uses for support of de-dollarization”.

    Since change of requirements, made in June, “not much time has passed, but that will be inevitably reflected on the market and volume of loans, issued in lari, will increase, which trend is already observed”, Kikoria says.

16. Rezonansi: “LARI HAD EXCESSIVELY STRENGTHENED IN SPRING”
    (Economic Press Monitor: July 21, 2016)

    “Since spring, showing of transfers to the country was improved, import continued to decline, while revenues from tourism were increasing at that”, president of National bank of Georgia (NBG) Koba Gvenetadze told the newspaper. The combination of all the mentioned, being added with agiotage, provided ground for lari strengthening, he pointed.

17. Rezonansi: “SECRET COMBINATION AGAINST LARI”
    (Economic Press Monitor: July 12, 2016)

    Currencies of Georgia’s neighbor and trade partner countries are strengthening, while Georgian lari has lost its value by more 3 points over a week, the newspaper writes. A week ago, official exchange rate was 2.3093 GEL/USD, while today it stands at 2.3393 GEL/USD.

18. Forbes Georgia: “LARI EXCHANGE RATE”
    (Economic Press Monitor: July 7, 2016)

    In June, lari reached highest rate for the past year (2.12 GEL/USD) and started rapid devaluation afterwards. After devaluation of 8%, lari is traded on the market around 2.3 GEL/USD.

19. Rezonansi: “PENSION GROWTH OR 20-LARI COMPENSATION?”
    (Economic Press Monitor: July 1, 2016)

    After lari devaluation and increased cost of living, experts do not see increase of pensions by 20 lari is a serious action, the newspaper says.

    As the article states, all interviewed experts had declared to the newspaper that growth of pension from 160 to 180 lari (from July 1) will not improve social state of pensioners.

20. IFC: CORRUPTION IN GEORGIA IS ALMOST ON ZERO LEVEL
    (Daily News: June 30, 2016)

    Survey of International Financial Corporation (IFC, member of the World Bank Group) states that corruption in Georgia is almost on zero level.

    According to surveyed business representatives, vast majority of private companies is satisfied with existing business environment.

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