Search Results

1. Tabula: “GOTSIRIDZE: JOBS REDUCTION RESULTS FROM THE GOVERNMENT’S ECONOMIC POLICY”
   (Economic Press Monitor: May 4, 2016)

   Roman Gotsiridze, head of Economic Development Center, points that Georgia’s export will decline by $1 billion in 2016. This decline will lead to respective reduction of job places, he says, pointing that reduction of about $1 billion is observed in import also.

2. Bankebi da Finansebi: “LARI TO STRENGTHEN STAGE-BY-STAGE BY THE END OF YEAR”
   (Economic Press Monitor: April 27, 2016)

   The newspaper points that in order to avoid spasmodic revaluation (jump of the currency rate), National Bank of Georgia (NBG) has to remove excessive dollars from the market once in 3-4 days.

   Merab Kakulia, former vice-president of NBG, says that current trend of lari strengthening is obvious and he approves NBG’s interventions to exchange market.

3. Tabula: “BECAUSE OF LARI DEVALUATION, SALES OF MOBILE PHONES DROPPED BY 27%”
   (Economic Press Monitor: April 22, 2016)

   In January-March, mobile phones of $26.7 million were imported to Georgia, declining by 27% year-on-year, the magazine reports.

   Reduction of mobile phones’ import is reasoned by lari devaluation, because of which people refrain from buying foreign goods.

4. NDI REPORT: 66% OF RESPONDENTS EVALUATES GEORGIA’S CURRENT ECONOMIC SITUATIONS AS BAD
   (Daily News: April 12, 2016)

   According to latest survey of National Democratic Institute (NDI), 66% of respondents evaluate Georgia’s current economic situations as bad. Among them, 40% think that the situation is bad, while 26% – very bad.

5. : “BANKING SECTOR – 2015”
   (Special Report: February 19, 2016)

   In December 2015, compared to the same month of the previous year 2014, the volume of total deposits increased by 24.8% (3,080 mln GEL), while the volume of total loans to the national economy increased by 23.5% (3,074 mln GEL). Taking exchange rates into consideration, the growth rate of the deposits is 5.4% and the growth rate of the loans is 5.8%.

6. : “ANALYSIS OF THE EXTERNAL FACTORS AFFECTING ON GEL EXCHANGE RATE”
   (Special Report: February 2, 2016)

   On February 2, 2016, based on the official exchange rate, the value of 1 USD is 2.47 GEL.

   During the January 2016, GEL depreciated towards USD by 0.08 point (3.1%) compared to previous month and by 0.5 point (25.5%) compared to January 2015.

7. Tabula: “LARI DEPRECIATED TOWARD DOLLAR BY 1.6 TETRI, 1 US DOLLAR COSTS 2.37 LARI”
   (Economic Press Monitor: March 30, 2016)

   In early March, there was strong trend of lari strengthening, but starting from previous week, this trend changed to devaluation again, the magazine says. Since that, lari has depreciated toward the US dollar by 8 tetri.

8. Rezonansi: “GEORGIA’S ECONOMY FALLS DOWN ON LARI”
   (Economic Press Monitor: March 29, 2016)

   National currency goes the way of devaluation again, the newspaper says.

   Recently, supply of lari has increased again, the article reports, pointing that in March, the government had to spend 1 billion lari at once in order to fulfill quarterly plan of the budget expenditure.

9. Rezonansi: “PEOPLE WILL SAVE MORE THAN 100M BY LARI STRENGTHENING”
   (Economic Press Monitor: March 22, 2016)

   Businessman Tsezar Chocheli points that lari devaluation “had serious pressure on business”. “Not only loans, taken in dollar, went up in price, but interest rates of loans, taken in lari, have reached 17-18% too”.

10. Rezonansi: “IVANISHVILI, DEFRAUDED BY 100M, FILED CLAIM AGAINST BIGGEST SWISS BANK”
    (Economic Press Monitor: March 17, 2016)

    Referring to foreign press, the newspaper reports that Swiss private banker has defrauded Georgia’s ex-premier billionaire Bidzina Ivanishvili of 100 million CHF. Lawyers of Georgian billionaire filed a suit against banker’s employer Credit Suisse, due to misuse of investment portfolio.

11. EX-PRESIDENT OF NBG INDICATES 8 REASONS FOR LARI STRENGTHENING
    (Daily News: March 16, 2016)

    Roman Gotsiridze, chair of Economic Development Center and former president of National Bank of Georgia (NBG), states that “major reason for the recent strengthening of lari is that it had not have dropped so sharply a month ago (from 2.39 GEL/USD to 2.5 GEL/USD)”.

    “That factor, which had reasoned devaluation, is partly removed.

12. Rezonansi: “BECAUSE OF PRICE GROWTH, PEOPLE CANNOT VISIT DOCTORS”
    (Economic Press Monitor: March 11, 2016)

    Because of the high tariffs, established by clinics against devaluation of lari, patients do not manage to visit doctors, the newspaper says.

    Most difficult situation arose in provider clinics of insurance companies, where even insured persons find it difficult to spend money because of artificially inflated prices, the article specifies.

13. Rezonansi: “LARI STARTED RAPID STRENGTHENING?”
    (Economic Press Monitor: March 10, 2016)

    It seems that lari has started move toward strengthening already for several days, while yesterday, the rate had jump-like strengthened, the newspaper says. Particularly, the US dollar rate has decreased from 2.4620 GEL/USD to 2.4225 GEL/USD.

14. Bankebi da Finansebi: “DEVALUATION OF LARI DID NOT CREATE CRISIS BACKGROUND FOR DEVELOPERS”
    (Economic Press Monitor: March 4, 2016)

    In her interview to the newspaper, director of Terra Building construction company Lela Mazanashvili says that “devaluation of lari, naturally, has a certain impact on construction and not only construction business”. “However, this process did not create a crisis situation for developers.

15. Rezonansi: “LARI FELT KADAGIDZE’S LEAVING”
    (Economic Press Monitor: March 1, 2016)

    Giorgi Kadagidze’s term of office as president of National Bank of Georgia (NBG) expired on February 25 and since that, lari is strengthening gradually, the newspaper notes.

    Expert Vazha Kapanadze thinks that “there were no macroeconomic parameters in Georgia, which could cause depreciation of lari by 46%”.

16. Rezonansi: “THE MINISTER: LARI WILL SERIOUSLY STRENGTHEN!”
    (Economic Press Monitor: February 16, 2016)

    In his interview with the newspaper, Finance Minister Nodar Khaduri says that the budget will be amended only if new profit tax is enacted. New form of this tax will naturally reduce revenues of the state budget, he notes.

17. NBG: KEY FACTORS, CAUSING INFLATION GROWTH, ARE STILL ACT ON THE SUPPLY SIDE
    (Daily News: February 3, 2016)

    National Bank of Georgia (NBG) reported that annual growth of consumer prices in January made up 5.6%, so inflation is expected to exceed slightly 5% in the beginning of 2016. Afterwards, inflation will start gradual decrease, while remaining around target, NBG forecasts.

18. Forbes Georgia: “OUR ROLE IN LARI RATE FORMATION”
    (Economic Press Monitor: February 3, 2016)

    The magazine notes that number of deposits, opened in foreign currency, has increased in proportion with lari rate devaluation. That has conditioned decline of demand for lari, while growth of demand for the US dollar and euro, author of the article says.

19. Kviris Palitra: “CREDIT “SLAVERY””
    (Economic Press Monitor: February 1, 2016)

    Lari devaluation has especially affected those Georgian citizens, who have banking credits in foreign currency, the newspaper notes.

    Extremely hard situation has appeared for 35,000 families (i.e. 3% of the country’s population), as they had secured mortgage credits with real estate, analyst Giorgi Pataridze says, adding: that’s leaving alone situation of debtors of microfinance organizations.

20. NBG’S PRESIDENT: CURRENT DEPRECIATION OF LARI IS A RESULT OF NEGATIVE EXPECTATIONS OF MARKET PARTICIPANTS
    (Daily News: January 27, 2016)

    President of National Bank of Georgia (NBG) Giorgi Kadagidze considers that current depreciation of lari “is result of negative expectations of market participants, being caused by situation in neighboring countries”.

    Money aggregates did not affect devaluation, as growth of money supply in economic equals to zero, Kadagidze assures.

Pages:

14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30