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Monthly Archives: August 2014

Russia’s Ban on Transit Flights of Ukrainian Airlines Affected Georgia-based Air Companies

Russia has decided to stop transit routes of  Ukrainian airlines through its territory to the number of countries, Prime Minister of the Russian Federation Dmitry Medvedev stated. “Ukraine International Airlines” and “Dniproavia” fly  from Ukraine to  Georgia today. “Commersant” got in touch with the airlines representations in Georgia. “Ukraine International Airlines” says that  they …

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Local Processing Industry Exempt from VAT

The Ministry of Finance is working on new legislative initiatives aimed at further liberalization of a legal framework, penalties and sanctions necessary for the fair and efficient administration. The Ministry has prepared a package of amendments to the Tax Code, which provides an important mechanism for business support and stimulation. According to  Finance Minister …

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Cigarette Price Rises Again

The excise tax on tobacco will rise again in the near future, which will cause a rise in the cost of cigarettes. A gradual increase in the excise tax is envisaged in an association agreement with the European Union. When and how much the excise will increase and therefore the …

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Government Changes its Position – Red Grapes will be Subsidized

Ministry of Agriculture changes its position and is not going to cancel subsidies for red grapes. “Commersant” was told at the Ministry of Agriculture. The subsidy amount will be GEL 0.05 less per one kilo of grapes than last year and  white grapes will cost GEL 0.35. This year’s price of red grapes will be …

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Ambitious Plans of Belarusian Company in Georgia Failed

Belarusian computer hardware company “Tsifrovik” closes its affiliates in the Georgian  market, reducesemployees and suspends  plans about the entry  into regions. Alexander Karpitski, Director of “Tsifrovik-Georgia”  states in a conversation with commersant.ge and names the economic downturnand banks tightened credit policy as the main reason. In his words, two “Tsifrovik” shops of  7 have already closed in Tbilisi. Karpitski says that these objects have not brought proper profits and therefore, management …

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IMF: Regional Tensions Undermines the Prospects of the Economy of Georgia

The International Monetary Fund (IMF) says that the regional geopolitical tensions and the risk of transmitting shocks from neighboring countries weakens the prospects for the economy, especially in terms of trade and remittances, and may stallforeign direct investment. “Despite the encouraging results of the Fund-supported program in the 2012-2013 period, the …

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“Energo-Pro Georgia” Demands Electricity Price Hike

In the autumn, electricity price may change in Georgia. The grounds for such assumptions gives the fact that the company “Energo- Pro Georgia”, which provides electricity generation and distribution to regions of the country, has made a request to change the tariff to the Energy Regulatory Commission (ERC). In addition, the cost …

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“Kazantip” Representative: If “Kazantip” Festival is not Held in Anaklia, Zugdidi will be a Dead City for 30 Years

Transport  Minister of the Republic of “Kazantip”Nika Rusishvili asks clerics not to arrive in Anaklia.According to Rusishvili, the arrival of the clergymen in Anaklia  might cause confrontation. “We ask them not to come here in order to avoid confrontation.  It’s just a purpose of our gathering.We expect too many guests. Too many people hopethat they will be able to earn money from it, “- NikaRusishvili notes. Minister of …

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Prices of Vegetables, Melons and Gourds Increased by 10.7%, Fish – by 4.4%

In July 2014 the inflation rate in Georgia amounted to  2.8% compared with July 2013. Annual inflation rate was based on changes in prices of the following groups of goods and services in the consumer basket: Food and non-alcoholic beverages prices rose by 3.4% on average which had an impact of  1.11 percentage points on the inflation rate. Prices of vegetables, melons and gourds (10.7%) and …

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Work on a Mountain Law Hindered

Due to changes in the government, discussions on a mountain law have been postponed. The first meeting of the Interagency Commission  chaired by the Minister of Infrastructure scheduled for  last month has not been held. According to Otar Konjaria,” the Inter-agencyCommission  is expected to be staffed this week andthe discussions on the mountain law will start in September. As a member of the commission working on the …

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National Wine Agency Helps “Tsinandali Old Cellar” in the Search of New Markets

A company taking part in the preferential agrocredit program expands a list of exporting countries.According to Director of “Tsinandali Old Cellar Ltd.” Eldar Mildiani,  the National Wine Agency helps in planning and organizing marketing activities andthrough them the company will possibly expandexports to the Chinese market. Mildiani says  the company already sells wine in the Chinese market, but now they are talking about a much larger scale. In his …

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