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1. PRESIDENT OF “NEW ECONOMIC SCHOOL – GEORGIA”: ESTIMATIONS OF NEW “DOING BUSINESS” REPORT REPEAT RESULTS OF PREVIOUS YEAR, INDICATING ABSENCE OF PROGRESS
   (Daily News: November 3, 2015)

   In “Doing Business – 2016” report, published recently by the World Bank, Georgia ranks 24^th among 189 countries (against of 15^th in “Doing Business – 2015”). Sarke asked Paata Sheshelidze, president of New Economic School – Georgia, to comment on results of the report.

2. Rezonansi: “LARI DEVALUATION STOPPED INVESTMENTS”
   (Economic Press Monitor: November 3, 2015)

   The newspaper points that lari depreciation has started in November 2014 and by this September, devaluation reached 40%.

   As businessmen say, they have suspended implementation of important projects because of devaluation of national currency.

3. Rezonansi: “BANKS GOT MAGNIFICENT PROFIT BECAUSE OF LARI DEVALUATION”
   (Economic Press Monitor: October 28, 2015)

   In a month, commercial banks’ net profit increased by 85.3 million lari, at that, sharp growth is fixed for interest income, the newspaper states.

   Mikheil Tokmazishvili, former council member at National Bank of Georgia, points that commercial banks issue credits in lari, but for prevention, return them according to dollar rate.

4. Rezonansi: “OLD-STYLE ATTACK ON LARI”
   (Economic Press Monitor: October 27, 2015)

   Lari is devaluated quite quickly again, the newspaper states. Almost with the same pace, the rate had declined since mid-August, approaching to historical maximum, the article points.

5. Forbes Georgia: “WHY ELECTRICITY INCREASED IN PRICE?”
   (Economic Press Monitor: October 13, 2015)

   In the last decade, consumer tariff for electricity has increased several times, the magazine says.

   Namely, in 2006, tariff increased from 10 tetri to 15 tetri on average, while cost of 1 KWh raised by about 4 tetri in regions since August and in Tbilisi – since September.

6. Rezonansi: “LARI TO START STRENGTHENING IN A FEW DAYS”
   (Economic Press Monitor: October 13, 2015)

   The newspaper says that lari is about to start strengthening. Head of Micro-Financial Organizations Association Archil Bakuradze forecasts that lari will strengthen in near future.

7. “TI GEORGIA”: BUDGET-2016 IS THE FIRST, WHICH CAN BE CONSIDERED AS PROGRAMMATIC ONE
   (Daily News: October 6, 2015)

   TI Georgia, Georgian branch of Transparency International, estimates that draft state budget-2016, submitted by the government to the Parliament, is the first one since turn to programmatic budgeting, which can be considered as so.

   This is significant step forward, the non-government organization points, indicating however that some problematic issues are still observed.

8. Forbes Georgia: “ANALYSIS OF IMPORT OF LARGEST COMMODITY GROUPS”
   (Economic Press Monitor: October 2, 2015)

   According to cost of goods, imported to Georgia, oil and oil-products occupy the first position, next are drugs, while the third place is held by motor cars.

   Despite that cost of oil import in January-July has declined year-on-year, its volume increased by 19%, which is explained by declined oil price on global market, the magazine says.

9. Bankebi da Finansebi: “LATEST REVIEW OF GEORGIAN FINANCIAL SECTOR”
   (Economic Press Monitor: September 30, 2015)

   Out of 19 commercial banks, presented in Georgia, 18 ones have been established with participation of foreign capital. As of the latest data, this participation in banks’ total paid chartered capital accounts for 77.1%.

10. Kviris Palitra: “WHEN WILL LARI “BREATH AGAIN””
    (Economic Press Monitor: September 28, 2015)

    Economy and Sustainable Development Minister Dimitri Kumsishvili assures that “strengthening of lari is expected in a medium-term period”.

    The Minister points that because of national currency devaluation, both export and import are declined and “pressure on our currency this year is by $100 million less, compared to last year”.

11. “GEORGIAN RAILWAY”: LOSS FOR 6 MONTHS IS CAUSED BY LARI DEVALUATION
    (Daily News: September 23, 2015)

    JSC Georgian Railway reported loss of 64.038 million lari for 6 months of the year, against of net profit of 34.229 million lari for the same period of 2014.

    Georgian Railway explained that its revenues in the reporting period were increased (by 25.5% year-on-year, to 288.34 million lari), but net profit was affected by devaluation of lari.

12. Tabula: “KADAGIDZE: WE DO NOT EXPECT DEVALUATION OF LARI ANYMORE”
    (Economic Press Monitor: September 23, 2015)

    “We do not expect devaluation of lari anymore”, president of National Bank of Georgia (NBG) Giorgi Kadagidze assured. He declared this on the air of Rustavi-2 broadcasting company, while commenting reasons of lari devaluation.

13. Forbes Georgia: “INFLATION LEVEL IN GEORGIA”
    (Economic Press Monitor: September 22, 2015)

    In Georgia, inflation expectations have intensified recently behind depreciation of national currency, which is mainly conditioned by our country’s strong dependence on import, the magazine points.

    Georgia’s top ten importing articles include groups of commodities, which are not produced locally and, respectively, their replacement with local goods is not available, author of the article says, noting that devaluation of national currency leads to price growth on imported products and causes import of inflation.

14. Kviris Palitra: “WHY CAPITAL RUSHES FROM GEORGIA”
    (Economic Press Monitor: September 21, 2015)

    The newspaper points that capital outflow from Georgia increases since 2013, mainly to offshore zones. In 2013, more than $1 billion flowed from the country; almost the same volume was fixed in 2014 as well.

15. NBG PRESIDENT’S ADVISER: TODAY, MAIN IMPACT ON LARI RATE’S DYNAMIC COMES FROM NEGATIVE EXPECTATION OF POPULATION
    (Daily News: September 17, 2015)

    Giorgi Bakradze, advisor to president of National Bank of Georgia (NBG), considers that “today, major impact on lari rate’s dynamic is caused by negative expectation of population”. “First of all, these negative expectations should be mitigated”, he pointed.

16. CASPIAN – BLACK SEA TRANSPORT CORRIDOR DISCUSSED IN BATUMI
    (Daily News: September 16, 2015)

    A 2-day conference “Argus Caspian Black Sea Transport Corridor 2015” was opened in Batumi today. The event is attended by representatives of transport and logistics companies and oil refineries from 14 countries.

17. Tabula: “LARI HAS ITS 20^TH ANNIVERSARY”
    (Economic Press Monitor: September 16, 2015)

    President of National Bank of Georgia Giorgi Kadagidze considers that “there is the only way out from lari devaluation and it is full economic and political integration with West”.

    The magazine points that depreciation of lari was caused by reduction of export and incoming remittances, which lowered inflow of foreign currency to the country.

18. Tabula: “TODAY, LARI DEVALUATION WAS FIXED AT ITS HIGHEST POINT FOR 2015”
    (Economic Press Monitor: September 16, 2015)

    Official exchange rate made up 2.4170 GEL/USD on September 15. Lari devaluated against the US dollar by 1.55 tetri and reached its maximal level of depreciation for 2015, the magazine says.

19. Rezonansi: “BY LATE 2016, LARI RATE WILL STAND AT 2.6!”
    (Economic Press Monitor: September 15, 2015)

    The newspaper reports that few days ago, president of National Bank of Georgia (NBG) Giorgi Kadagidze “privately confirmed” that lari rate in January will exceed 2.6 GEL/USD. Part of economists considers this threat quite real, the newspaper notes.

20. Rezonansi: “NATURAL GAS DECREASES IN PRICE EVERYWHERE EXCEPT GEORGIA”
    (Economic Press Monitor: September 15, 2015)

    Sub-title of the article says: “It’s proper time to review contract with Azerbaijan”.

    As experts consider, Georgia should review contract with Azerbaijan and cost of so called “social gas” should lowered in proportion to decrease of global prices, author of the article says.

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