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Economic Press Monitor

March 19 - 25, 2017

Previous Issues:  Days: < 25 04 11 18 25

 

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economic & politics

    TABULA: “SERGEENKO ON UNEMPLOYMENT COMPENSATION: OPTIMAL AND REALISTIC MODEL IS NECESSARY”

    March 24, 2017 - Labor, Healthcare and Social Protection Minister David Sergeenko confirms that negotiations are held with trade unions concerning unemployment compensation.

    “We should adopt the model, which will be optimal and realistic”, the Minister says, pointing that works and consideration of this issue is constantly underway in the Ministry.


    BANKEBI DA FINANSEBI: “WHAT DOES MEAN AGRICULTURE DEVELOPMENT STRATEGY – ACTION PLAN 2017”

    March 23, 2017 - According to Georgia’s strategy of agriculture development, financial support will be provided to about 110 new or already operating enterprises. Up to 5,000 ha of agricultural land plots will be insured.


    TABULA: ““FORBES”: BIDZINA IVANISHVILI’S PROPERTY REDUCED BY $400M IN ONE YEAR”

    March 22, 2017 - According to Forbes rating of 2017, property of the richest citizen of Georgia, ex-premier Bidzina Ivanishvili amounts to $4.5 billion. While reporting this, Tabula points that in comparison with the rating of 2016, Ivanishvili’s property has decreased in volume by $300 million.


    REZONANSI: “LABOR INSPECTION TO BE ENTITLED TO FINE COMPANIES”

    March 21, 2017 - The bill, drafted by Labor, Healthcare and Social Protection Ministry, authorizes labor inspection to fine business entities. Size of the fine ranges between 300 and 4,000 lari.


macroeconomics & budget

    FORBES GEORGIA: “HOW MUCH AND WHY DID LIVING COST IN GEORGIA RAISE?”

    March 22, 2017 - Results of opinion poll, published by National-Democratic Institute (NDI) in January, shows that 38% of respondents see price growth and inflation as the most important problem.

    The poll was conducted in 2016, when Sakstat reported that annual inflation made up 0.2%.


energy, oil & gas

    NETGAZETI.GE: “WILL HES CONSTRUCTION LEAVE VILLAGE ARTANA, FAMOUS WITH ITS “SAPERAVI”, WITHOUT WATER”

    March 23, 2017 - In Artana village of Telavi municipality (Kakheti region), construction of hydroelectric station of 4.22 MW is planned. Part of local residents say that the village, where Saperavi (red grape variety) is growing, will face problems with irrigation and drinking water.


conflict and court

    NETGAZETI.GE: “YOUNG LAWYERS ASSOCIATION IS READY TO RENDER LEGAL ASSISTANCE TO STREET TRADERS”

    March 20, 2017 - On March 19, Tbilisi City Hall did not allow street traders to place their shelves and boards and took their goods, pointing that “street trading is illegal, as well as it prevents movement of citizens and Tbilisi guests”, the newspaper writes.

    Georgian Young Lawyers Association declared that they are ready to render legal assistance to street traders.


companies

    TABULA: ““R2” TEAM: WE REFUSE KARAMANISHVILIS’ PROPOSAL, GIVE US “SAKARTVELO”!”

    March 24, 2017 - Staff of Rustavi-2 broadcasting company rejected proposal of Karamanishvili brothers, owners of 91% in the company, regarding handing over of 40% to them.

    In turn, director of the broadcasting company Nika Gvaramia made a counter-offer, asking Karamanishvili brothers to hand over LLC TV Company Sakartvelo, that holds 51% in Rustavi-2.


    BANKEBI DA FINANSEBI: “TOP 20 MOST ACTIVE COMPANIES IN MEDIA SPACE”

    March 24, 2017 - Referring to data of IPM Research media monitoring unit, the newspaper publishes top 20 of companies, which are most frequently covered in media. The monitoring covers the first half of February.


    NETGAZETI.GE: “FRANCHISE FORUM IN TBILISI WITH PARTICIPATION OF RUSSIAN COMPANIES”

    March 22, 2017 - On June 2-3. Tbilisi will host international franchise fair “Buybrand Transcaucasia”, the newspaper reports.


transport & communications

    TABULA: “TWO TRAIN STATIONS TO OPEN AT KUTAISI AIRPORT”

    March 20, 2017 - Georgian Railway announced plans to open two train stations at Kutaisi Airport in Kopitnari, Tabula reports.

    Currently, rehabilitation works are underway in old Kopitnari station, which will be opened this spring, the company said.


international cooperation

    EUGEORGIA.INFO: “FDI FROM THE UK FALL MAINLY ON FINANCIAL SECTOR”

    March 23, 2017 - Sakstat reported that volume of foreign direct investments (FDI) from the UK reduced in 2016 by 69%. In top ten of FDI rating, the UK is the only country, which direct investments had reduced in such considerable rate, the article states.


ecology & health

    REZONANSI: “PEOPLE, DECEIVED BY POOR QUALITY DRUGS”

    March 21, 2017 - Marina Beradze, founder of non-governmental organization Remember Hypocrite, says that Georgia’s monitoring of drugs’ side effects could not stand any criticism. “Drugs quality is the problem of all time in Georgia”, Beradze says.


    NETGAZETI.GE: “CHIABERASHVILI: ADMINISTRATION OF UNIVERSAL HEALTHCARE PROGRAM SHOULD BE TRANSFERRED TO INSURANCE COMPANIES”

    March 20, 2017 - Member of the Parliament fraction European Georgia, former healthcare minister Zurab Chiaberashvili notes that as far back as 2013, demand to the government was target-orientation of universal healthcare program and return of insurance companies to its management.

    The target-orientation will be enacted this year, while “if private companies will undertake administration, this will lower cost of both state-funded and private packages”, Chiaberashvili declares.


finances & banking

    BANKEBI DA FINANSEBI: “LOANS OF $40M CONVERTED TO LARI IN “TBC BANK””

    March 24, 2017 - Deputy director general of TBC Bank Nino Masurashvili reports that the bank has converted to lari loans of $40 million (including ones of bank Republic). This is around 53% of total loans, converted on the market, she notes.


    TABULA: “BANKING LICENSE DEMAND TOWARD CAPITAL INCREASES TO 50M LARI”

    March 23, 2017 - From late 2018, minimal demand toward banking capital will amount to 50 million lari, the magazine reports. Currently demanded volume makes up 12 million lari.


    REZONANSI: “MORE THAN HALF OF SALARY IS NEEDED FOR LOAN SERVICING”

    March 21, 2017 - The newspaper reports that sum, paid for interest rates per capita, exceeded $130 in 2016. In 2010, this showing made up $60-65.


    NETGAZETI.GE: “5,092 PEOPLE MADE USE OF LOAN CONVERSION PROGRAM”

    March 20, 2017 - Giorgi Tsutskiridze, executive director of Georgian Banks Association, declared that in 2 months, 5,092 people made use of loan conversion program and converted loans of $71 million.

    “Those, who did not take part in the program, have made their choice.


agriculture & food

    EUGEORGIA.INFO: “DUE TO QUALITY INSTABILITY, GEORGIAN HAZELNUT LAGS BEHIND ITS COMPETITORS IN PRICE”

    March 21, 2017 - All links, engaged in hazelnut business, name quality assurance as the biggest problem and point at wrong care of trees, harvesting and storing, Eugeorgia.Info reports. Besides, most farmers complain about spreading of diseases and pests.


tourism

    REZONANSI: “HUNDREDS OF CANCELED BOOKINGS IN AJARA HOTELS AND LOSS OF 150,000 LARI”

    March 22, 2017 - Batumi Mayor Giorgi Ermakov states that “results of vandalism, which took place in Batumi on March 11-12, appeared very grave for the city”.

    “Loss, inflicted on the city infrastructure, amounted to about 150,000 lari”, the Mayor says.


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