Former senior officials of the Regulatory Agency exposed in the GEL 53 MLN pharmacy drug trafficking case

In Batumi, in May 2026, the number of transactions in newly built apartments increased by 3.3% compared to May 2025, while transactions in old apartments decreased by 7.3%.The number of transactions increased by 13.4% in the secondary market, while the primary market recorded a decrease of 8.5%.The share of foreign buyers in transactions of old and new projects increased compared to May of last year and amounted to 49%. Foreign buyers accounted for 59% of the increase in the number of transactions in new and old projects.In addition, in May 2026, the number of residential apartment transactions in Batumi increased by 2.5% compared to May of last year and amounted to 1,324 units, while the market size increased by 22.2% to $87 million.

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In May 2026, the weighted average selling price of old apartments in Tbilisi increased by 23.5% in the city center, by 3% in the wider center, and by 11.6% in the suburbs compared to May 2025. Prices in old projects across the city increased by 16%.It is worth noting that the significant increase in prices in the city center is influenced by the small number of registered transactions.In May 2026, the weighted average selling price of newly built apartments in Tbilisi increased by 7.2% in the suburbs compared to May 2025, by 10.6% in the wider center, and by 29.6% in the city center.According to recov.ge data, prices in the city center increased mainly at the expense of the primary market, as transactions in several expensive projects were registered simultaneously. Meanwhile, an 11.5% increase was recorded in the secondary market in the city center.The increase in the weighted average price of primary transactions across the city amounted to 14.9%. In the secondary market, the weighted average price across the city increased by 5.5%.In May 2026, the number of transactions in new projects in Tbilisi increased by 15.3% compared to May last year. Growth was observed in both the primary (11.4%) and secondary (20.7%) markets for newly built apartments.In addition, 40% of the growth in the secondary market came from the Samgori district. The number of transactions also increased by 5.1% in old projects. In Tbilisi, the majority of transactions in both old and new projects are carried out by Georgian citizens, while the share of foreign citizens was only 11.4% in May 2026.

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The report, prepared based on data from the French Customs (DGDDI), published by the American Association of Wine Economists (AAWE), shows that the value of Alsatian white wine imports to Georgia increased from €0.02 million in 2024 to €0.04 million in 2025.Overall, Alsatian wines are losing their traditional leading export positions, which is the main reason for the global decline.Significant losses were recorded in the largest markets, namely: exports to Canada decreased by 11.2%, to the USA - by 4%, and to China - by 12.6%.These losses in traditional markets were only partially offset by increases in countries such as Japan (+8.5%) and South Korea (+20.5%).According to the AAWE report, new and emerging markets, despite high percentage growth, are still too small to fully compensate for the losses caused by the decline in leading countries.

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According to the investment bank, last month the export volume to Turkey amounted to only 36.2 GWh (compared to 172.3 GWh in May 2025), and the income received - $1 million (compared to $7.8 million in the same period last year). The researchers explained that the decline was also due to falling prices - in May, the average export price to Turkey was 2.7 US cents per kWh, which is a decrease of 39.4% year-on-year.Such a decrease in export price, volume and revenue is associated with a sharp decline in prices on the Turkish market. In May 2026, the average electricity price on the Turkish market was 1.8 US cents/kWh (vs. 6.4 US cents/kWh in May-25). Such a low price significantly reduces the economic attractiveness of exports, as exporters also had to cover system-related costs, including transmission tariffs and guaranteed capacity fees.According to the Galt & Taggart study, the difference between the Turkish market price and the average export price from Georgia is likely related to the hourly/daily structure of exports and direct contracts.The decrease in electricity prices in Turkey, in turn, is related to the construction of solar power plants and favorable hydrological conditions.In May, only four companies exported to Turkey: Adjara-Energy 2007 LLC, Energy Development Georgia LLC, Svaneti Hydro LLC, and Kasleti-2 LLC. Despite the low market prices, the continued exports may be related to both the existing transmission and dispatch agreements and the individual contractual conditions of the companies.In addition to Turkey, exports were also recorded in Azerbaijan on the balance sheet, although these were not commercial exports. The mentioned synchronous volume was a technical exchange carried out for parallel operation with Azerbaijan and was balanced by imports of the same volume and value. Since April 2026, the accounting methodology has changed and this exchange, which was previously reflected as a net in the balance, is now recorded in imports and exports.Balancing market and pricesThe average price of balancing electricity in May increased by 3.5% year-on-year and amounted to 5.1 US cents per kWh.In addition, the balancing volume increased by a negligible 0.7% year-on-year and amounted to 0.3 TWh, which represents 23% of the total supply.On June 12, 2026, an amendment was made to the grid rules, according to which: The transmission system operator is obliged to cancel the grid connection agreements for power plant projects that do not have a confirmation from the Ministry of Economy that they are at the stage of feasibility study or construction. Electrosystem will request this information from the Ministry by August 1. Project developers have the right to appeal the decision made by Electrosystem within 10 working days. Canceled projects will be refunded the paid grid connection fee. An agreement signed with the government on project development or a written confirmation from the Ministry has become mandatory for applications for connecting a new generation facility to the Energo-Pro and Telasi grids. This amendment aims to bring the power plant construction process into a single framework and release reserved capacities at grid connection points.

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According to the document, last month, domestic consumption increased by 3.8% year-on-year and amounted to 1.1 TWh, however, due to a sharp decline in exports, total demand in the market decreased by 8.6% (to 1.2 TWh). The investment bank explains that May is historically an export month, which is due to the seasonality of hydropower plants, however, due to the forced limitation of generation this year, local production has decreased by 9.5% annually.The sharp decline in exports was caused by a decrease in prices on the Turkish market to a historical minimum - an average of 1.8 US cents/kWh - which, as Galt & Taggart researchers note, is associated with favorable hydrological conditions and an increase in solar generation. The increase in solar capacity in Turkey may maintain pressure on summer prices in the future, although the effect will also depend on market and hydrological conditions.According to data from the 5 months of 2026, local electricity consumption in Georgia increased by 6.1% annually and amounted to 6.2 TWh. The share of imports and thermal generation in total supply was 36.3% (vs. 31.1% in 5 months of 2025). Increased import dependence in January-April and reduced exports in May highlight Georgia's seasonal challenges.Overall, the 2026 data indicate the need to develop generation facilities that respond to Georgia's seasonal challenges, such as reservoir hydropower plants and wind farms. In addition, the data highlight the importance of developing energy storage and export infrastructure.Domestic consumption growth in all categoriesAccording to the Galt & Taggart study, domestic consumption increased by 3.8% annually and amounted to 1.1 TWh. Annual growth was recorded in all segments: Abkhazia region: +6.6% Direct consumers: +5.8% Retail consumers: +2.1% The increase in consumption is associated with both climatic factors and the activation of energy-intensive enterprises.In addition, in May 2026, hydropower generation decreased by 9.9% annually and amounted to 1.2 TWh, which is 97.5% of total supply. The decrease is associated with climatic conditions and, at the same time, generation restrictions imposed by the system operator. These restrictions became necessary to protect the balance between demand and supply. Without generation restrictions, supply would exceed demand, including the local market and exports.There is no publicly available information on the exact scope of the restrictions implemented in May.Wind and solar generation grew by 55.8% year-on-year, although its share in total supply was still a small 1%. The increase is associated with the commissioning of the 18.7 MW “Zemo Wind Station” in April and new solar plants added by the end of 2025 (totaling 10.8 MW).Thermal plants, in accordance with the seasonality characteristic of May, were not operating.Galt & Taggart researchers expect generation restrictions to continue in June-July, although to a lesser extent, because:Historically, June and July are characterized by less surplus than May.ESCO has signed a barter agreement with Turkey, within the framework of which it will export electricity to Turkey during May-July, and import in September-November. This transaction will increase the volume of exports and aggregate demand, thereby reducing generation constraints in the June-July period.The export volume to be implemented under the barter will be purchased by ESCO at 4.021 tetri per kWh from power plants that would otherwise have to curtail generation (as a result of the GSE decree). The exact commercial terms of the barter agreement, including the proportion of exports and offset imports, are not publicly known.

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The need for legislative amendments arose after the decision taken in December 2025 transferred the functions of the Personal Data Protection Service and the Anti-Corruption Bureau to the State Audit Office from March 2026.According to the rapporteur of the draft law, First Deputy Chairman of the Finance and Budget Committee, Irakli Kheladze, the main novelty is the subordination of the regulatory commissions - the Communications Commission and the State Commission for Electronic Communications, which were not subject to inspection until now - to the Audit Service. Their audit will be carried out on a similar principle to the National Bank, which means that the agency will only inspect administrative and capital expenditures and will not interfere in the substantive decisions of the regulators.Within the framework of the reform, auditors are also granted exceptional powers, which will allow them to request information related to state procurement directly from private individuals participating in tenders. In addition, in order to speed up operational work, the Audit Service will receive direct access to the electronic databases of other administrative bodies based on memoranda.At the same time, sanctions are being tightened, and the amount of the fine for failure to provide documentation or submitting false information to the agency is increasing from the current 1,000 GEL to 5,000 GEL. The draft law also specifies that financial compliance and efficiency audits include control of both ongoing and already implemented activities.From a structural point of view, the law adds a new position - the Secretary of Public Relations. He ensures coordination and communication with other agencies under the instructions of the Auditor General, although the addition of this position does not require additional financial expenses from the budget.

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The authors of the legislative initiative are members of parliament: Shota Berekashvili, Giorgi Barvenashvili, Tornike Berekashvili, Anton Obolashvili and Mariam Lashkhi.According to the amendments, a new category of licenses will be introduced in a systematic-electronic form for the international organization of slot machines and totalizator games. The introduction of this framework will encourage the legal entry of gambling operators registered in other countries into Georgia. However, according to the draft law, only foreign citizens and stateless persons will have the right to play on these platforms, while Georgian citizens will be automatically banned from accessing the aforementioned Internet websites.According to the initiators, the state offers a tax break to online casinos intended only for foreigners - they will be taxed at a lower 5% gross profit tax (GGR) rate, instead of the 20% that standard online casinos available to Georgian citizens are taxed at. The monthly 5% tax rate will be charged on the difference between the bets received and the winnings paid out.In addition, each type of international permit will be issued for a period of 5 years and its annual fee will be set at 100,000 GEL. Violation of permit conditions or the deadline for payment of fees will be subject to a fine of 20,000 GEL. The draft law also tightens restrictions on Internet domains: if under the current rules, a maximum of 2 websites could be operated with 1 permit, the new law reduces the limit to 1 website per permit, and a transitional period will apply to existing permits for the remaining period of their validity.The explanatory note to the draft law emphasizes that, on the one hand, the reform will ensure the protection of Georgian citizens from harmful influences, and on the other hand, it will promote the growth of foreign direct investment, the development of the service sector, the entry of highly qualified technological and marketing personnel into the country, and the accumulation of additional revenues in the state budget.

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The legislative amendments were authored and initiated by Members of Parliament Paata Kvizhinadze, Irakli Kheladze, Bezhan Tsakadze, Zurab Rurua, Giorgi Barvenashvili, and Levan Machavariani.Under the new regulations, a transitional period will begin in 2027, during which the tax authority will exclusively register cash registers that meet the new standard. Meanwhile, businesses will be allowed to use previously registered older cash registers and terminals without interruption until May 1, 2028.The law stipulates that a single operator, selected by the Government of Georgia, will handle both the supply and subsequent technical maintenance of the new equipment. The government will determine the service fees and specific payment procedures at a later stage.While the core components of these legislative changes have already taken effect, the mandatory requirements of the new system will be phased in incrementally through 2027 and 2028.Penalties are also being tightened under the new framework. Operating without a cash register or failing to use one during customer transactions will result in a 200 GEL fine for business entities.

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