Tag Archives: Georgia

Georgia updates its 10-year military development plant

JULY 22 2021 (The Bulletin) — Georgia’s ministry of defence presented an updated 10-year plan for its military, a plan that includes building 1,050 apartments to give to soldiers on the outskirts of Tbilisi. Georgia also wants to buy more javelin anti-tank shoulder missiles from the United States and start production of mortar bombs. 

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgia’s economy to grow by 7.7%, says IMF

JULY 22 2021 (The Bulletin) — The IMF said in its latest economic assessment that it expected Georgia’s economy to grow by 7.7% this year, underlining its sharp recovery from the impact of the coronavirus pandemic. Economists have said that the major concern for Georgia’s economy is inflation. The Central Bank said that it was running at nearly 10% last month.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgian PM says lockdown will not be reimposed

JULY 21 2021 (The Bulletin) — Georgian PM Irakli Gharibashvili said that the government would not reimpose a coronavirus lockdown despite cases rising. Georgia had had one of the toughest coronavirus lockdowns, and it earned international praise for locking down hard and early. This year, though, it has taken a lighter touch and lifted most restrictions. Opposition leaders have said that the light lockdown is an effort to pick up support ahead of an important election this year.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgian banks record record profits

JULY 21 2021 (The Bulletin) — Georgia’s banks registered a record total profit in June, the Central Bank reported, more evidence that the country is recovering quickly from the impact of the pandemic. The Central Bank said that banks’ profit in June totalled 295m lari ($92m). Georgia’s banking system is considered robust. Since the pandemic has subsided, requests for loans have boomed.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgian Dream opponents say government tries to smear reporter

JULY 19 2021 (The Bulletin) — Opponents of the Georgian Dream government accused it of trying to smear Alexander Lasharava, a TV cameraman killed this month by anti-gay rights protesters, by accusing him of being a heroin user after traces of an opiate were found in his blood. Lasharava’s supporters said that he was given morphine by a hospital before he was discharged. He died at home. His death sparked several days of anti-government protests.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgia’s housing market is booming, says Colliers

JULY 16 2021 (The Bulletin) — Propelled by pent-up pandemic demand, Georgia’s housing market is picking up and is pushing sales to new highs, the Toronto-headquartered Colliers International said in a report. It said that in June this year, 3,378 apartments were sold in Tbilisi, an increase of 10% on the same period in 2019. Analysts have said that Georgia’s economy has recovered well from the pandemic.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgian government says it is surprised by criticism of judge appointments

JULY 16 2021 (The Bulletin) — Georgian Dream chairman Irakli Kobakhidze said that he was surprised and disappointed by criticism from EU and US over the appointment of new Supreme Court judges. He said that the appointments had not broken an April 19 peace deal made with the opposition because they had been made before the agreement was signed. 

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgia cuts cost of casino licence in half

JULY 16 2021 (The Bulletin) — Georgia’s government said that licences to run casinos in Tbilisi would be halved from 5m lari ($1.6m) to 2.5m lari until January to offset some of the costs built up during the coronavirus lockdown. Opposition MPs have said that the government is trying to curry favour from businesses ahead of important municipal elections this year.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

TBC Bank says to reimpose Central Bank’s buffer requirements

JULY 16 2021 (The Bulletin) — In an indication of its robust health and quick recovery from the pandemic, London-listed Georgian bank TBC said that it was voluntarily reinstating the Georgian Central Bank’s buffer rules. This buffer, the minimum proportion of assets that banks were expected to hold, was ditched last year to allow banks more flexibility to deal with the pandemic. TBC Bank said that its current capital ratio was 13.04%.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Georgian priests and rightwing party promise to disrupt Gay Pride

JUNE 16 2021 (The Bulletin) — Georgian priests and leaders of the right-wing political party Unity, Essence, Hope promised to disrupt a Gay Pride march planned for the start of July. They have said that homosexuality runs against Georgian traditions and the march should be banned. Previous Gay Pride marches have been attacked by opponents of gay rights. 

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021