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Economic Press Monitor

October 15 - 21, 2017

Previous Issues:  Days: < 23 30 07 14 21

 

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economic & politics

    BANKEBI DA FINANSEBI: “THERE IS QUITE ADVERSE PICTURE SEEN IN THE PRISM OF ELECTION FINANCES”

    October 20, 2017 - Analyst Vazha Beridze considers that “quite adverse picture is seen in a prism of financing” of parties during the pre-election period. Elections “are unambiguously free”, he states, pointing the same time that “electoral subjects are obviously put in noncompetitive conditions”.


    TABULA: “GOTSIRIDZE: “GAZPROM” PAYS US THREE TIMES LESS FOR TRANSIT THAN IT WAS BEFORE”

    October 20, 2017 - Referring to obtained confidential information, MP from United National Movement Roman Gotsiridze declares that Russian Gazprom pays Georgia $3 for transit of 1,000 cubic m gas per each 100 km, Tabula reports.

    The article notes that the total paid sum is 3 times less than Georgia had received for gas transit before.


    NETGAZETI.GE: “MEDIA MONITORING: “R2” – THE MOST CRITICAL CONCERNING THE AUTHORITY, “IMEDI” AND “PUBLIC BROADCASTER” – LOYAL”

    October 20, 2017 - According to media monitoring, most negatively the authority was reported in air of Rustavi-2 broadcasting company (R2), which in turn, had aired most positively National Movement and its candidate for Tbilisi Mayor’s office Zaal Udumashvili (former anchor of this TV company), Netgazeti.Ge reports.

    According to the same monitoring, Public Broadcaster and broadcasting company Imedi were characterized by “soft, not watch-dog position” concerning the authority.


    NETGAZETI.GE: “SMALL BUSINESS AND INVESTMENTS – REVIEW OF ECONOMIC PROGRAMS OF CANDIDATES FOR TBILISI MAYORS”

    October 19, 2017 - Development of small business and attraction of investments – these are core directions of economic programs of candidates for Tbilisi mayors, Netgazeti.Ge states.

    The article reviews programs of 4 candidates – Kakha Kaladze (ruling Georgian Dream), Aleko Elisashvili (independent candidate), Zaliko Udumashvili (National Movement), Elena Khoshtaria (European Georgia).


    BANKEBI DA FINANSEBI: “WHETHER GEORGIA NEEDS THE ANTI-DUMPING LEGISLATION”

    October 19, 2017 - Georgian government announces adoption of anti-dumping law already for a long time, the newspaper notes.

    The draft bill defines the dumping as placement of object in the local market at the price below of its normal cost.


    TABULA: “CHKONIA: 1 LARI IS A LITTLE CHEAP, I PAID 850,000 IN LAND FOR “MCDONALD’S””

    October 19, 2017 - Businessman Temur Chkonia said that upon construction of McDonald’s restaurant in Kutaisi, he paid 850,000 in land site and invested 3 million in the outlet (currency is not specified).

    Commenting on handover of land site in the very center of the capital to “Panorama Tbilisi” project for 1 lari, Chkonia noted: “I think that nevertheless one lari is a little cheap”.


    NETGAZETI.GE: “THE “DREAM” ACCOUNTS FOR 90% OF DONATIONS, RECEIVED BY ALL SUBJECTS – AUDIT REPORT”

    October 18, 2017 - State Audit Service reported that election subjects have received between July 1 and October 17 donations, totaling to 13 million lari. Out of this sum, 90% (11.64 million lari) is share of ruling Georgian Dream, Netgazeti.Ge says.


    FORBES GEORGIA: “GEORGIA’S GLOBAL POSITION IN TERMS OF QUALITY OF EDUCATION”

    October 18, 2017 - According to quality of education, the World Economic Forum places Georgia on the 101st position among 137 countries. At that, by criterion of quality of mathematics and science education, Georgia occupies the 103rd position.


    BANKEBI DA FINANSEBI: “ENACTMENT OF LAW ON TOBACCO TO CUT THOUSANDS OF JOBS”

    October 18, 2017 - Paata Bairakhtari, vice-president of Georgian Young Financiers and Businessmen Association, considers that law “On Tobacco Control”, which will enter in force on January 1, 2018, limits mainly small and medium business.

    For example, regulation envisages prohibition of realization of tobacco along streets and roads, respectively, besides budgetary losses, job will be lost by thousands of people, engaged in this business, Bairakhtari specifies.


    EUGEORGIA.INFO: “AT AUTUMN SESSION, METHODOLOGY AND INTRODUCTION TERMS OF RIA WILL BE DETERMINED”

    October 17, 2017 - Shalva Tadumadze, parliamentary secretary of the government, supposes that practice of regulation impact assessment (RIA) will be fully introduced in legislative process after January 1, 2019. However, it is possible that pilot terms will be determined and requirement to conduct RIA concerning certain part of laws will be introduced after January 2018, he notes.


    FORBES GEORGIA: “MARKET, FINANCE AND KNOWLEDGE ACCESSIBILITY”

    October 16, 2017 - International researchers are grouping problems, which small and medium business has face, in four blocks: administrative, access to finance, access to markets and access to knowledge, the magazine says.

    The article notes that in Georgia, under administrative component often is meant corruption and bureaucracy in customs, tax and other regulators, however it is not an essential limiting factor, especially in comparison with other countries, including Eastern Europe.


macroeconomics & budget

    TABULA: “NIKOLOZ GAGUA: RATIO OF DEBT TO GDP WILL DECREASE FROM 45% TO 37% BY 2024”

    October 20, 2017 - According to primary version of the draft budget-2018, the government plans borrowing of 1.6 billion lari abroad and 400 million lari – domestically, as a result the governmental debt will reach 18.1 billion lari, exceeding by 94% the indicator of 2013, Tabula reports.

    As Deputy Finance Minister Nikoloz Gagua explains, main reason of the debt growth in nominal expression (in lari) is strengthening of the US dollar, while volume of debt, expressed in dollars, remains stable.


    TABULA: “THE GOVERNMENT FORGOT THE DOCUMENT OF 2014, ACCORDING TO WHICH DEBT SHOULD NOT EXCEED 40% OF GDP”

    October 19, 2017 - According to the draft budget-2018, debt of the government will make up 18.1 billion lari, i.e. 44.8% of Georgian GDP.

    As Tabula points, that exceeds by 4.8 percentage points the limit, defined in strategy document “Georgia 2020”, adopted by the government in 2014.


    FORBES GEORGIA: “BIG ECONOMY OF TBILISI”

    October 17, 2017 - “Why talks on urbanistic problems became of higher priority in Tbilisi, than on social problems”, author of the article asks and answers: “There are two main reasons of this”.

    The first reason is that economic situation in Tbilisi is better, than in regions of the country, while the second reason is that urbanistic activity in Tbilisi became very much amplified, the article specifies.


    KVIRIS PALITRA: “HIGH RATE OF ECONOMIC GROWTH WAS PROMOTED BY REASONABLE POLICY”

    October 16, 2017 - On that background, when consideration of the draft budget-2018 in the Parliament is conducted against noisy debates between majority and minority, the IMF mission positively estimates those priorities, which the government defined in the budget, the newspaper states.

    According to the mission, high rate of economic growth in Georgia “was promoted by reasonable policy”.


conflict and court

    KVIRIS PALITRA: ““WE GOT KIDNAPPING ORDER FROM THE WIFE” – WHAT SAYS FORMER SPOUSE OF OWNER OF “GORGIA” AND WHAT – ACCUSED OF “HUNTING” FOR MILLIONAIRE?”

    October 16, 2017 - At night on October 12, law enforcement agencies detained on Tskneti Highway a criminal group, which planned kidnapping of the owner of construction hypermarkets’ chain Gorgia Gia Gorgoshadze. Kidnappers had to demand ransom of $5 million from the businessman.


companies

    TABULA: “CABLE OPERATORS STOPPED BROADCASTING OF “RUSTAVI-2”, “IMEDI” AND OTHER TV CHANNELS”

    October 18, 2017 - Cable operators stopped broadcasting of Rustavi-2, Imedi, Maestro, GDS, Marao and Komedi Arkhi (Comedy Channel).

    They explain the action with demand of Media Right Georgia to pay the fee for broadcasting of signal of these Georgian TV channels.


    FORBES GEORGIA: ““DASTA” – PERSONAL ARCHIVIST OF BUSINESS”

    October 17, 2017 - Dasta is the first company of paper work and archiving in Georgia, which offers services of documents’ storage, digitizing and shredding, the magazine reports.

    The company, founded in 2014 by Georgian, Dutch, French and American investors, has invested during 3 years 4 million lari in Georgia.


international cooperation

    FORBES GEORGIA: “FRANCE AND GEORGIA”

    October 20, 2017 - Economic relations between France and Georgia have amplified recently, notes author of the article, executive director of Chamber of Commerce and Industry France-Georgia Etienne Gachet-Mauroz.

    Tourism, agriculture and transport were named as spheres, in which development France can render assistance to Georgian government, the author specifies.


finances & banking

    TABULA: “THE GOVERNMENT WILL INSURE YOUR DEPOSIT WITH YOUR MONEY – WHAT EFFECT THIS REFORM WILL HAVE”

    October 18, 2017 - Since January 2018, deposits, placed by individuals in the Georgian commercial banks, will be insured by special state fund. Through monthly payment of obligatory commission fee, deposited sum of up to 5,000 lari will be compensated in case of bankruptcy of the bank.


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