Economic Press Monitor November 10 - 16, 2013	Days:  02 09 16 23 30

economic & politics

VERSIA: “HOW MIKHEIL SAAKASHVILI, KAKHA BENDUKIDZE AND GIORGI ARVELADZE TRIED TO “SEIZE” WATER BUSINESS”

November 15, 2013 - Zaal Zhvania, one of the authors of project on Georgian water export, declared to the newspaper that the project envisages bottling of underground water. Out of 2,888 wells, existing in Georgia, about 1,700 ones are operating, which is fully sufficient number for this project, he said.




TABULA: “NEW DRAFT BILL: QUOTA AND TARIFFS ON IMPORTED GOODS”

November 15, 2013 - The article reviews draft bill on protection measures in foreign trade, being worked out by the Ministry of Economy and Sustainable Development.

The supporters of the draft declare that it will put foreign and Georgian production in equal conditions and there will no more necessity to import such production, which is produced in Georgia also.




REZONANSI: “DRAFT ANTIMONOPOLY BILL HAS BEEN SUBMITTED TO THE GOVERNMENT AND SHOULD BE APPROVED BEFORE THE NEW YEAR”

November 12, 2013 - Deputy economy minister Natia Melkadze declares that works on antimonopoly legislation are already finished and the draft is already submitted to the government.

As the government promises, antimonopoly legislation will be approved before the end of the year and should became effective from the next year.

macroeconomics & budget

BANKEBI DA FINANSEBI: “THE STATE SHOULD CREATE SUCH REGIME, WHICH FACILITATES INVESTMENTS’ FLOW TO THE REAL PRODUCTION”

November 14, 2013 - Professor, doctor of economics Temur Beridze declares that the state should create such regime, which facilitates investments’ flow to the real production, as it is significant problem for Georgia.

Foreign production occupies 80% of consumer market and therefore, the country faces need of real sector development, Beridze notes in an interview with the newspaper.




KVIRIS PALITRA: “THE GAP IN THE BUDGET?”

November 11, 2013 - Parliamentary opposition declares that there will be a gap of 600 million in the budget by the end of this year, while the Finance Ministry does not confirm that, the newspaper reports.

Financial expert Levan Kalandadze comments on the subject in the article, published by the newspaper.




KVIRIS PALITRA: “ANYWAY, EVERYTHING WILL BE ALL RIGHT”

November 11, 2013 - In an interview with the newspaper, Finance Minister Nodar Khaduri says that, considering objective reality, there should be 6% economic growth in the country. However, “the situation is dramatically changed not only in Georgia, but beyond our borders as well”, he declares.




EKONOMIKA DA SABANKO SAKME: “ECONOMIC GROWTH AND STRUCTURAL TRANSFORMATION”

November 11, 2013 - High rate of economic growth (about 6.9%) was fixed through the last decade in Georgia, but there was a low pace of production factors’ accumulation, the magazine reports.

In this period, investments to GDP ratio made up 25% on average, against of 40%, fixed on average in the countries, having analogous fast growing economics, the article notes.

energy, oil & gas

REZONANSI: “OIL IMPORTERS RETURNED TO MARGIN OF TIMES OF “NATIONALS”!”

November 13, 2013 - According to the newspaper’s calculations, the difference between wholesale and retail price of fuel is 40 tetri again. This is the same margin, which oil-products’ importers had during times of National Movement, the article reports.

transport & communications

REZONANSI: “THE WHOLE RAILWAY OF THE COUNTRY TO STOP TOMORROW”

November 13, 2013 - Georgia’s new trade unions of railroaders threaten to hold a strike on November 14.

Railroaders demand the administration to pay overtime work, establish transparent bonus system and issue bonuses according to qualification and experience.

ecology & health

VERSIA: “WHY THE STATE DOES NOT FUND URGENT SURGERIES FOR BENEFICIARIES OF FREE INSURANCE”

November 15, 2013 - David Sergeenko, Minister of Labor, Healthcare and Social Protection, declares that Archimedes Global Georgia (participant of state insurance program) “had so significantly violated financial parameters, that introduction of compulsory manger in the company became necessary in mid September”.

Archimedes Global Georgia pays the debts, but old problems actually persist, as the company’s debt totals to 12 million lari, the Minister declares.




BANKEBI DA FINANSEBI: “INSURANCE SECTOR LACKS POSSIBILITY OF REAL FORECASTING”

November 14, 2013 - In an interview with the newspaper, Insurance Association president Devi Khechinashvili declares that insurance sector does not know if it will be involved in the state insurance programs in future. This lack of knowledge includes uncertainty in regard of socially unprotected persons’ insurance program, which occupies 35-40% of the market.

finances & banking

BANKEBI DA FINANSEBI: “ECONOMIC GROWTH OF THE NEXT YEAR COULD BE MUCH MORE OPTIMISTIC THAN MONETARY FUND FORECASTS”

November 14, 2013 - Zurab Gvasalia, president of Georgian Banks Association, comments on current year’s performance of banking sector.

As Gvasalia notes, profit growth is conditioned by several factors, and first of all – by calculation methodology.




REZONANSI: “BANKS HAVE TAKEN PROPERTY OF 20B LARI IN THE MORTGAGE”

November 12, 2013 - According to data, provided by the article, 12 out of 20 commercial banks, operating on the local market, have property seized from bad borrowers. According to latest data, the matter concerns property of 148.8 million lari.

agriculture & food

REZONANSI: “FIRST COOPERATIVES TO BE REGISTERED IN 2 MONTHS”

November 13, 2013 - Agriculture Georgian hopes that several agricultural cooperatives will be registered already in January. Assignment of the appropriate status will be conducted by Agency for Agricultural Cooperatives Development.




REZONANSI: “WHEAT MONOPOLY WILL SINK LOCAL PRODUCTION AS WELL AS FARMERS”

November 12, 2013 - Director of Georgian Wheat and Bread Producers Association Levan Silagava declares that currently, Azerbaijani company Carmen determines wheat price on the local market.

Since 2007, this company has consequently acquired 4 big mills (Gori, Marneuli, Kazreti and Mzekabani), having total capacity of 1,300 t daily.