Day: February 1, 2024

Following the Prime Minister’s “unexpected” resignation, highly expected government shake-up continues to be a hotly debated topic among opposition politicians and the media. According to media reports, ministers closely associated with PM Garibashvili won’t be included in a new cabinet. Media forecasts also suggest that foreign affairs, defense, and justice ministers will almost certainly be removed from the government. In the meantime, the ruling Georgian Dream party readies to hold a party conference to nominate a candidate for prime minister.

The opposition Formula TV announced the axe of its entertainment TV programs, saying it will focus on news and political talk shows only. The announcement published on Formula TV’s Facebook page pays tribute to the staff and says, “Despite stable growth in ratings, Formula TV could not mobilize the planned funds last year,” blaming the political situation in the country and “the regulations aimed at reducing the funds for critical media.” Formula TV was founded by former Defense Minister David Kezerashvili, who transferred half of its shares to the TV channel’s management and journalists last year.

The pro-Russian, anti-liberal Conservative Movement/Alt-Info party was ordered to pay GEL 233 000 (around USD86,900) by the National Enforcement Bureau of the Justice Ministry for omissions in its financial declaration and not paying the fine. The Alt-Info party accuses the government of turning to the Western course and attacking the conservative flank. In its announcement, the party claims the payment must be made within a week; otherwise, it faces property confiscation and accounts freezing.

As part of an investigation into an alleged false notification on terrorism, the State Security Service searched the residence of Beka Vardosanidze, a closely associated blogger with the ultra-conservative, pro-Russian Conservative Movement/Alt-Info party. Vardosanidze is also known for disseminating hate speech and homophobic views. According to the Security Service, Vardosanidze’s computers and data devices were seized for expertise, and he will be questioned as a witness.

Tbilisi City Court fined Gela Mtivlishvili, the founder and editor-in-chief of the Georgian news agency “Mtis Ambebi,” GEL 2000 (around USD 750). Police detained Mtivlishvili during a tense eviction standoff in central Tbilisi on January 23. He was released on parole later that day. “Although the court did not have any evidence except for the false and perjured testimony of the police, I did not expect any other decision from Judge Nino Shcherbakovi,” Mtivlishvili told the RFE/RL–Georgian Service, adding that he will appeal this decision.

The Monetary Policy Committee of the National Bank of Georgia (NBG) reduced the key refinancing rate by 0.5 percentage points to 9%. According to NBG, Georgia’s low inflation results from tight monetary policy, lower inflation expectations, and a significant decline in external shocks caused by the war and the pandemic. The NBG noted that headline inflation increased by 0.4 percent annually in December, while core inflation was 1.9 percent. 

The Data of the Day

According to the rapid estimates released by the National Statistics Office, the country’s estimated real Gross Domestic Product (GDP) growth rate amounted to 8.3% for December 2023 compared to the corresponding period of the previous year. Statistics Office suggests that construction, manufacturing, financial and insurance activities significantly contributed to GDP growth.