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DAILY NEWS December 3, 2021

IN NOVEMBER, ANNUAL INFLATION IN GEORGIA MADE UP 12.5%

Sakstat reported that in November, annual inflation in Georgia made up 12.5%. Monthly inflation (i.e. compared with the previous month, October) made up 0.6%. More...


PARLIAMENT APPROVED AMENDMENTS TO THE STATE BUDGET-2021

On December 2, Georgian Parliament approved draft amendments to the state budget-2021 by 80 votes “pro”.

Georgian Finance Ministry reported that according to the updated macroeconomic parameters, forecast of real GDP growth for 2021 is set at 10%. More...


IN ACADEMIC YEAR 2021/2022, NUMBER OF PUBLIC SCHOOLS WAS NOT CHANGED, NUMBER OF PRIVATE SCHOOLS DECREASED BY 1

Sakstat reported that at the beginning of academic year 2021/2022, there were 2,308 schools in Georgia, including 2,086 public ones (unchanged compared with the previous academic year). Number of private schools made up 222, decreasing by 1 unit since the previous academic year. More...


IN 2020, PROFIT OF GEORGIAN ENERGY DEVELOPMENT FUND DROPPED 10 TIMES

In the review of state-owned enterprises, Georgian government indicated that profit of JSC Georgian Energy Development Fund for 2020 made up 1 million lari. If compared with 2019, the volume has decreased 10 times. More...


IN 2020, NET PROFIT OF “SAKRUSENERGO” DECREASED BY 21.4%

In the review of state-owned enterprises, Georgian government indicated that JSC Sakrusenergo finished 2020 with a net profit of 11 million lari. If compared with 2019, the volume has decreased by 21.4%. More...


IN 2020, PROFIT OF “GEORGIAN POST” INCREASED 6 TIMES

In the review of state-owned enterprises, Georgian government indicated that LLC Georgian Post finished 2020 with profit of 6 million lari. If compared with 2019, the volume has increased 6 times. More...


AS OF SEPTEMBER 30, 5 INSURANCE COMPANIES ACCOUNTED FOR 69% OF TOTAL REIMBURSEMENTS

Georgian State Service for Insurance Supervision reported that in total reimbursements of Georgian insurance sector as of September 30 (313 million lari), combined share of 5 companies made up 69%, or 216.46 million lari. If compared with the same period of 2020, the top five has undergone changes. More...


AGROINSURANCE PREMIUM, ATTRACTED IN 9 MONTHS, INCREASED BY 19.4% Y-O-Y

Georgian State Service for Insurance Supervision reported that in 9 months of this year, Georgian insurance companies attracted premium of 17.6 million lari (gross) from agricultural insurance. If compared with the same period of 2020, the volume has increased by 19.4%. More...


ECONOMIC PRESS MONITOR December 3, 2021

Tabula: “EU ON JUDGES: EU ASSISTANCE TO GEORGIA DEPENDS ON THE PROGRESS OF REFORMS”

In connection with appointment of 4 termless judges of Supreme Court in Georgia on December 1, the EU released a statement, which indicates that this action contradicts recommendations of the OSCE/ODIHR and the Venice Commission. The EU once again urges the Georgian authorities to promote the reform of the judicial system. More...


Forbes Georgia: “HOW TO RESTRAIN RECORD INFLATION OF THE DECADE”

In Georgia, annual inflation has reached the highest level in the last 10 years – 12.8%, the article says.

The article indicates that the pandemic has intensified inflationary processes around the world, but price growth in Georgia is high even against this background. More...


Forbes Georgia: “RATING OF PHARMACY CHAINS, OPERATING IN GEORGIA”

There are 3 leading players on Georgian pharmacy market – PSP, Aversi and GPS/Pharmadepot. There are also relatively small players on the market, but their sales do not exceed 100 million lari, the article says. More...


Forbes Georgia: ““INTRRO” ATTRACTED INVESTMENT OF $2.2M”

Finalist of the acceleration program 500 Georgia, international technology company Intrro has attracted $2.2 million from German and American investors, the magazine reports. Among the investors are Signals Venture Capital, DataFrame Ventures and Tribe Capital. More...


SPECIAL REPORT November 25, 2021

INFLATION TRENDS IN GEORGIA

The global economic recovery is ongoing, however the COVID-19 pandemic is still causing considerable volatility. Since the beginning of 2021, inflation rates have increased in both advanced and emerging economies, generally driven by pandemic-related supply-demand mismatches and rapidly rising commodity prices, following a global decline in inflation over the course of 2020. More...


Exchange Rates (NBG)
  12/03/21 + / -
  USD   3.1210   0.0073
  EUR   3.5302   0.0139
  RUR   4.2381   0.0064
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