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1. HEAD OF REVENUE SERVICE: CREATION OF SYSTEMS OF ELECTRONIC AUDIT AND ONLINE ACCOUNTING IS PLANNED
   (Daily News: June 10, 2015)

   First Deputy of Finance Minister and head of Revenue Service Giorgi Tabuashvili declared that at this stage, “automated control systems are being introduced, including electronic audit, which will make carrying out tax audits easier and more effective”.

   Besides, “the Service plans creation of online accounting system in order to support accounting maintenance by micro and small enterprises”, Tabuashvili reported at the meeting with businessmen today.

2. 2M LARI TO BE INVESTED IN CONSTRUCTION OF MULTIFUNCTIONAL COMPLEX IN TBILISI
   (Daily News: June 9, 2015)

   By decree of the Prime Minister, state-owned non-agricultural land site with total area of 1.855 square m with buildings, located on Sandro Euli Street in Tbilisi, will be handed over to LLC Kumuri through direct sale.

   For the property, the company will pay 775,000 lari within 18 months, according to agreed schedule.

3. Rezonansi: “IMAGE OF MONETARY FUND BEING DESTROYED”
   (Economic Press Monitor: June 9, 2015)

   Cause for the article became recent statement of ex-premier Bidzina Ivanishvili, who said that representative of IMF asked him not to arrest president of National Bank of Georgia (NBG) Giorgi Kadagidze. Part of MPs also blames the Fund of rough interfere with internal affairs of the country, the article notes.

4. Tabula: “JAPARIDZE ANNOUNCED INITIATIVE ON REPLACEMENT OF NATIONAL BANK WITH CURRENCY BOARD”
   (Economic Press Monitor: June 8, 2015)

   Oppositional MP Zurab Japaridze announced initiative on creation of Currency Board instead of National Bank of Georgia (NBG). The Board will have much more limited functions, than NBG, he specifies.

5. Kviris Palitra: ““KADAGIDZE ROBBED US!” – WHAT EVIDENCES WERE GIVEN BY EX-VICE-PRESIDENT OF NATIONAL BANK”
   (Economic Press Monitor: June 8, 2015)

   Prosecutor’s Office launched investigation on seizure of shares of Sakhalkho Banki (now, Liberty Bank) in November 2012, and recognized shareholders as aggrieved persons in February 2015, the newspaper notes.

   Former shareholders insist that they were pushed to sell shares at low price on December 29, 2008, between 3:00 and 5:00 in the morning.

6. ECONOMY MINISTRY: INVESTMENTS OF “ZEDAZENI” EXCEEDED 40M EUR, WHILE ITS PAYMENTS TO THE BUDGET – 45M LARI
   (Daily News: June 5, 2015)

   Ministry of Economy and Sustainable Development reported that volume of investments, made by beer company Zedazeni, exceeded 40 million EUR, while its payments to the budget – 45 million lari.

   The Ministry pointed that the factory and distribution network of Zedazeni employ over 2,000 people.

7. PRESIDENT OF NBG: WE URGE ALL SIDES ONCE AGAIN TO STOP PRESSURE AND ATTACKS ON NATIONAL BANK
   (Daily News: June 5, 2015)

   President of National Bank of Georgia (NBG) Giorgi Kadagidze urged “all parties to stop pressure and attacks on National Bank”.

   “It will negatively affect confidence to the country, mood of investors and desire of donors and partners to continue cooperation with Georgia”, Kadagidze declared at the special briefing today, adding that “in the end, such irresponsible actions will affect negatively our citizens”.

8. Tabula: “SADIKOV: VIOLATION OF NATIONAL BANK’S INDEPENDENCE WILL DAMAGE GEORGIA”
   (Economic Press Monitor: June 5, 2015)

   “Violation of independence of National Bank of Georgia (NBG) will weaken this institution, will undermine its credibility in respect of policy in monetary and financial sector and will pose danger to investors’ confidence”, IMF resident representative in Georgia Azim Sadikov warns.

   Sadikov wrote this in his official statement, which is released in response to yesterday’s statements of ex-premier Bidzina Ivanishvili.

9. GEORGIAN PRIME MINISTER: PROCESS OF RETURN OF THE PROPERTY, WHICH WAS FORCIBLY EXPROPRIATED BY THE STATE, BEGINS
   (Daily News: June 4, 2015)

   Prime Minister Irakli Garibashvili stated that process begins of return of the property, which was forcibly expropriated by the state (under the former government).

   On this subject, the government and the new department, created under the Prosecutor’s Office, had worked intensively, the Prime Minister declared at the government meeting today and specified that return of several cars is planned this week.

10. CORRECTED VERSION OF THE BUDGET HAS TO BE PRESENTED BEFORE JUNE 10
    (Daily News: June 4, 2015)

    The Prime Minister Irakli Garibashvili assigned the Finance Minister Nodar Khaduri to present corrected version of the budget before June 10. “There will be no 5% growth, we already declared it”, the Prime Minister noted at the government meeting today.

11. GEORGIA AND ESTONIA DISCUSSED POLITICAL AND ECONOMIC COOPERATION
    (Daily News: June 3, 2015)

    Within 2-day official visit of Estonian President Toomas Hendrik Ilves to Georgia (June 2-3), the sides discussed enhancing of political and economic cooperation between the countries.

    Ilves met Georgia’s President Giorgi Margvelashvili yesterday, while today – Prime Minister Irakli Garibashvili.

12. Tabula: “THE PRESIDENT DOES NOT EXCLUDE VETOING DRAFT BILL ON NATIONAL BANK”
    (Economic Press Monitor: June 1, 2015)

    “We did not hear any argument”, why amendments to law “On National Bank of Georgia” have to be adopted, “besides pointing that some countries have similar system”, the President Giorgi Margvelashvili says.

    The amendments envisage detachment of financial supervision from National Bank of Georgia.

13. PROCEEDINGS LAUNCHED ON LLC “ORI LULA” INSOLVENCY
    (Daily News: May 29, 2015)

    Tbilisi City Court reported about launch of proceedings regarding insolvency of LLC Ori Lula (fast food network).

    The proceedings were launched following request of director of the company Giorgi Gogichaishvili, submitted to the Court in April.

14. Tabula: “ABASHISHVILI: RESULTS OF THIS INITIATIVE, ALONG WITH BUSINESS, WILL AFFECT EVERY CITIZEN”
    (Economic Press Monitor: May 29, 2015)

    Giorgi Abashishvili, economic adviser of the President, warns that because of deprivation banking supervision function from National Bank of Georgia (NBG), “Business in this case will get only the first blow, while further results will affect in various forms each citizen”.

    “The offered model means that banking supervision will not be independent”, Abashishvili considers.

15. Rezonansi: “AGREEMENT BETWEEN THE GOVERNMENT AND NATIONAL BANK IS VIOLATED”
    (Economic Press Monitor: May 28, 2015)

    The newspaper points that the government and National Bank of Georgia (NBG) assured the population that there will be no more depreciation of lari. Despite it, lari depreciates daily, and the next drop occurred on May 27, the article says.

16. PRESS SERVICE OF THE PRIME MINISTER: “PEGASUS” AND “CEFC” PLAN INVESTMENT IN GEORGIAN ENERGY
    (Daily News: May 27, 2015)

    Press service of Georgian Prime Minister reported that Israeli Pegasus and Chinese CEFC both plan investments in energy sector of Georgia.

    The Premier Irakli Garibashvili and secretary of Economic Council, business ombudsman Giorgi Gakharia met with the would-be investors today.

17. OPPOSITIONAL MP: VICTORY REQUIRES TOTAL RENEWAL OF POLITICAL MOVEMENT
    (Daily News: May 27, 2015)

    Oppositional MP and former executive secretary of United National Movement (UNM) Zurab Japaridze declared that UNM was not succeeded to pass test on responsibility assumption for a failure and renovation of the party.

    “Survival of political force is important, but is not enough for achievement of the goal: victory requires total renewal and bigger openness of political movement”, Japaridze pointed in special statement, released today.

18. Rezonansi: “SAKREBULO CHAIRMAN: PROBLEM OF TRAFFIC JAMS WILL BE SETTLED SOON”
    (Economic Press Monitor: May 27, 2015)

    While speaking on problem of traffic jams in the capital, chairman of Tbilisi Sakrebulo (city council) Giorgi Alibegashvili assures that streamlining will begin in 2-3 months.

    Alibegashvili reports that intensive negotiations on acquisition of environmentally friendly buses are conducted with various countries.

19. ECONOMY MINISTER Y DISCUSSED PROSPECTS OF RELATIONS’ DEEPENING WITH CANADIAN INVESTORS
    (Daily News: May 25, 2015)

    Ministry of Economy and Sustainable Development reported that the Minister Giorgi Kvirikashvili held a meeting with group of Canadian investors today.

    As the Ministry said, the sides discussed deepening of Georgian-Canadian economic relations, including implementation of Canadian investments in Georgia and assistance to already made ones, which have aiming growth of export.

20. NEGLECTING EXPLANATIONS OF NBG PRESIDENT, FISCAL COMMITTEE AND COMMITTEE ON ECONOMIC POLICY NEGATIVELY ESTIMATED HIS REPORT FOR 2014
    (Daily News: May 25, 2015)

    While addressing to joint sitting of Fiscal Committee and Committee on Branch Economy and Economic Policy of the Parliament, president of National Bank of Georgia (NBG) Giorgi Kadagidze declared that 2014 was one of the heaviest years for Georgia, proceeding from specifics and scale of shock, which affected the country.

    Despite it, the country managed to cope with this shock, said Kadagidze, who presented today report on NBG activity for 2014 to the mentioned committees.

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