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DAILY NEWS November 12, 2019

NBG: IN Q3, LARI AGAINST US DOLLAR DEPRECIATED BY 6.6%, AGAINST EURO – BY 5.5%

National Bank of Georgia (NBG) reported that in the 3rd quarter, nominal exchange rate of lari depreciated against the US dollar by 6.6% quarter-on-quarter. Against euro, lari depreciated by 5.5%. More...


AS OF OCTOBER 1, TBILISI ACCOUNTED FOR 64.7% OF TOTAL CREDITS, ISSUED IN LARI

National Bank of Georgia reported that in total volume of credits, issued by Georgian banks as of October 1 in lari (13.51 billion lari), Tbilisi accounted for 8.74 billion lari, or 64.7%. Volume of credits in Tbilisi has increased by 10.9% quarter-on-quarter and by 28.8% year-on-year. More...


AS OF OCTOBER 1, TBILISI ACCOUNTED FOR 83% OF TOTAL CREDITS, ISSUED IN FOREIGN CURRENCY

National Bank of Georgia reported that in total volume of credits, issued by Georgian banks as of October 1 in foreign currency (equivalent of 16.63 billion lari), Tbilisi accounted for equivalent of 13.8 billion lari, or 83%. Volume of credits in Tbilisi has increased by 3.2% quarter-on-quarter and by 21.3% year-on-year. More...


AS OF OCTOBER 1, SHORT-TERM CONSUMER LOANS DECREASED BY 60.6% Y-O-Y

National Bank of Georgia reported that as of October 1, short-term consumer loans, issued by Georgian banks, totaled to 221.38 million lari. The volume has decreased by 5.9% quarter-on-quarter and by 60.6% year-on-year. More...


AS OF OCTOBER 1, LONG-TERM CONSUMER LOANS INCREASED BY 17% Y-O-Y

National Bank of Georgia reported that as of October 1, long-term consumer loans, issued by Georgian banks, totaled to 3.77 billion lari. The volume has increased by 3.6% quarter-on-quarter and by 17% year-on-year. More...


ISET PI BLOG: SINCE AUGUST 2018, DEFICIT OF ELECTRIC POWER IN GEORGIA WAS NOTED NOT ONLY IN WINTER, BUT IN SUMMER TOO

“Historically, the main concern in monitoring the Georgian electricity market derives from the negative generation-consumption gap arising in the winter season”, indicates article, published in the blog of Policy Institute (PI) of International School of Economics at Tbilisi State University (ISET).

At that, authors of the article point that during the period from August 2018 to August 2019, deficiency of electric power persisted not only during the winter period, but also during whole 10 months. More...


MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: WITH UKRAINIAN INVESTMENTS, 3 FISHERIES ARE CREATED IN GEORGIA

Georgian Ministry of Environmental Protection and Agriculture reported that 3 fisheries were created in Georgia through Ukrainian investments. The matter concerns Aqua Farm Village Khashmi, Rioni Sturgeon Factory and Club Admiral. More...


AFD TO FUND PROJECT ON IMPROVEMENT OF CARE AND INTEGRATION OF PHYSICALLY DISABLED PEOPLE IN SAMTSKHE-JAVAKHETI

French Development Agency (AFD) allocates a grant for the project in Georgia’s Samtskhe-Javakheti region, aiming improvement of care and socio-economic integration of physically disabled people. The pilot project will be implemented by Expertise France. More...


THE US EMBASSY TO FUND THE FIRST PHASE OF JVARI MONASTERY’S PRESERVATION

The US embassy in Georgia revealed a winner of project competition, announced by Ambassador’s Fund for Cultural Preservation (AFCP). Namely, project focused on the conservation of damaged stones on the facades of the Major Church at Jvari Monastery will be funded with grant of $100,000. More...


ECONOMIC PRESS MONITOR November 12, 2019

Forbes Georgia: “WHAT SHOULD WE EXPECT FROM THE TOUGHENED MONETARY POLICY?”

Monetary policy rate of National Bank of Georgia (NBG) makes up 8.5% now, being at the highest mark for the last 11 years. Reason of the rate increase became inflation, which was caused to some extent by devaluation of lari against the US dollar, the article reminds. More...


Tabula: “PUTIN’S SANCTIONS AND INCREASED TOURISM FROM THE EUROPEAN UNION – WHAT IS GOING ON IN TOURISM SECTOR”

In 2016-2018, Georgia was visited by 3.4 million Russian citizens, however since July of this year (when Russia prohibited direct air communication with Georgia), number of Russian visitors decreases by 12.5% on average, Tabula reports.

In turn, Georgia was visited this year by 441,271 citizens of the EU countries, whose number has increased year-on-year by 25%. More...


Netgazeti.Ge: “NAME OF KUTAISI TECHNOLOGICAL UNIVERSITY IS OFFICIALLY CHANGED”

Kutaisi Technological University will be named Kutaisi International University and will be engaged mainly in scientific research, Netgazeti.Ge reports.

As the article indicates, the university will be financed from the central budget, but will be able also to gain income from students, other organizations, etc. More...


Bankebi da Finansebi: “GEORGIAN STARTUP “INFLUENCE.GE” WILL RECEIVE FINANCING OF 1,300,000 LARI”

Innovative Georgian startup Influence.Ge will receive financing of 1.3 million lari, the newspaper reports.

The article indicates that corresponding transaction was signed by Global Startup Fund, which is founded in partnership of Silicon Valley Tbilisi and Israeli Silicon Wadi. More...


SPECIAL REPORT October 16, 2019

ANALYSIS OF TIGHTER LENDING REGULATIONS IN GEORGIA

In the past year, in response to rising levels of private debt, the National Bank of Georgia (NBG) enacted new regulations to curb excessive indebtedness. There were multiple waves of initiatives. More...


Exchange Rates (NBG)
  11/12/19 + / -
  USD   2.9618   0.0015
  EUR   3.2645   0.0052
  RUR   4.6247   0.0108
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