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DAILY NEWS May 19, 2022

IN 2021, NBG’S OFFICIAL RESERVE ASSETS INCREASED BY 9%

National Bank of Georgia (NBG) reported that in 2021, its official reserve assets made up $4.27 billion, increasing by $361.4 million (by 9%) year-on-year.

Growth of the reserves was caused mainly by funds, received by NBG from the IMF, and by funds, attracted by the Georgian government from other international organizations, most of which appear on the government’s account in NBG, as well as by currency swaps, NBG specified. More...


“TBC CAPITAL” DOES NOT EXCLUDE PURCHASE OF DOLLARS BY NBG

TBC Capital does not exclude that National Bank of Georgia (NBG) may start buying the US dollars. As the company notes, this may happen, if the pressure from strengthening of lari continues to increase. More...


“TBC CAPITAL”: NO ADDITIONAL RESTRICTIONS ON FOREIGN CURRENCY LENDING ARE EXPECTED IN NEAR FUTURE

TBC Capital pointed that National Bank of Georgia (NBG) “has indicated that there may be some further steps to curb” growth of credits, issued in foreign currency. However, “we do not expect strong Larization measures in the near term”, the company said. More...


IN Q1, ADVERTISING REVENUES OF TV BROADCASTERS INCREASED BY 11.3% Y-O-Y

Georgian National Communication Commission reported that in the 1st quarter, revenues of Georgian TV broadcasters from commercial advertising totaled to 16.3 million lari. If compared with the same period of 2020, the volume has increased by 11.3%. More...


IN Q1, ADVERTISING REVENUES OF RADIO BROADCASTERS INCREASED BY 2.8% Y-O-Y

Georgian National Communication Commission reported that in the 1st quarter, revenues of Georgian radio broadcasters from commercial advertising totaled to 1.5 million lari. If compared with the same period of last year, the volume has increased by 2.8%. More...


“UZBEKISTAN AIRWAYS” TO START FLIGHTS TO BATUMI

Since May 21, Uzbekistan Airways will operate flights from Tashkent to Batumi, Georgian Civil Aviation Agency reported. The airline received the permission on May 16. More...


COMPETITION AGENCY: PRIME COST OF FUEL, IMPORTED TO GEORGIA FROM RUSSIA, IS LOWER THAN THE EUROPEAN ONE, BUT PRICES ON THE RETAIL MARKET ARE IDENTICAL

In its interim report on fuel market monitoring in March-April, Georgian National Competition Agency indicates that the prime cost of fuel, imported to Georgia from Russia, is on average by 30-60 tetri (per liter) lower compared with one, imported from European countries.

However, in case of large companies, prices of Russian fuel on the local retail market are identical to ones of European fuel, the Agency pointed. More...


ECONOMIC PRESS MONITOR May 20, 2022

Bankebi da Finansebi: “REVENUE SERVICE – IN THE CONDITIONS OF INCREASED TRAFFIC IN THE REGION, ALL CUSTOMS CHECKPOINTS ARE SWITCHED TO EMERGENCY MODE OF OPERATION”

Georgian Revenue Service declared that in the conditions of increased traffic in the region, all customs checkpoints of the country are switched to an emergency mode of operation. At that, number of customs officers has been increased at checkpoints countrywide. More...


Netgazeti.Ge: ““MASTERCARD” AND GNTA PUBLISH TOURISM TRENDS OF Q1, 2022”

Referring to data of MasterCard and Georgian National Tourism Administration (GNTA), the article reports that over 3,000 flights were carried out through Georgia in the 1st quarter, increasing in number by 270% year-on-year.

Passenger traffic has increased by 285% and made up 489,000 people. More...


Forbes Georgia: “OWNER OF “IDS BORJOMI” IS READY TO HAND OVER PART OF SHARES TO THE GEORGIAN GOVERNMENT FOR FREE – STATEMENT”

IDS Borjomi International declared that owner of the company is ready to hand over part of the shares to the Georgian government for free.

The company noted that, as a result, it will be possible to resume the production process at two Borjomi mineral water bottling plants in Georgia, which have been shut down since the end of April. More...


SPECIAL REPORT December 15, 2021

MONTHLY TOURISM UPDATE (NOVEMBER 2021)

- The number of international travelers1 increased by 288.8% in November 2021, compared to the same period of 2020, and declined by 73.0% compared to the same period in 2019. Meanwhile, the number of international visitors2 increased by 267.2% (2021/2020) and declined by 69.3% (2021/2019), and the number of international tourists3 increased by 283.2% (2021/2020) and declined by 55.3% (2021/2019). More...


Exchange Rates (NBG)
  05/20/22 + / -
  USD   2.9036   0.0226
  EUR   3.0738   0.0051
  RUR   4.7604   0.0502
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