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DAILY NEWS August 14, 2018

IN 3 DAYS, LARI DROPPED AGAINST THE US DOLLAR BY 6.2%

The official exchange rate, set by National Bank of Georgia (NBG) for August 14, made up 2.6343 GEL/USD.

To remind, lari started dropping on Friday (August 10), when NBG set official rate of 2.5339 GEL/USD for the next day. More...


BUDGETARY OFFICE: IN JUNE, CONSOLIDATED BUDGET HAD POSITIVE BALANCE

Budgetary Office of Georgian Parliament reported that in June, the consolidated budget had positive balance.

According to the Office, operational balance of the consolidated budget (accumulation of the government) amounted in the reporting month to 293 million lari, while total balance – to 101.5 million lari. More...


AS OF JUNE 30, MORTGAGE LOANS, ISSUED TO LEGAL ENTITIES IN LARI, INCREASED BY 23% Y-O-Y, IN FOREIGN CURRENCY – BY 10.6%

National Bank of Georgia reported that volume of mortgage credits, issued to legal entities in national currency, amounted as of June 30 to 1.34 billion lari. The volume has increased by 5% quarter-on-quarter and by 23% year-on-year. More...


AS OF JUNE 30, MORTGAGE LOANS, ISSUED TO PRIVATE INDIVIDUALS IN LARI, INCREASED BY 69.2% Y-O-Y, IN FOREIGN CURRENCY – BY 15%

National Bank of Georgia reported that volume of mortgage credits, issued to private individuals in national currency, amounted as of June 30 to 2.56 billion lari. The volume has increased by 12.5% quarter-on-quarter and by 69.2% year-on-year. More...


AS OF JULY 1, SHORT-TERM CONSUMER LOANS INCREASED BY 15.6% Y-O-Y

National Bank of Georgia reported that volume of short-term consumer loans amounted as of June 30 to 628.24 million lari. The volume has decreased by 3.5% quarter-on-quarter, but increased by 15.6% year-on-year. More...


AS OF JULY 1, LONG-TERM CONSUMER LOANS INCREASED BY 10.5% Y-O-Y

National Bank of Georgia reported that volume of long-term consumer loans amounted as of June 30 to 3.08 billion lari. The volume has increased by 1.4% quarter-on-quarter and by 10.5% – year-on-year. More...


DIRECTOR OF EU STUDIES CENTER: EXAMPLE OF THE WESTERN BALKANS SHOWS THAT IN RESPECT OF INTEGRATION INTO THE EU, OWN EFFORTS OF THE COUNTRIES ARE CRUCIAL

Kakha Gogolashvili, director of EU Studies Center at Rondeli Foundation, indicates that experience of the Western Balkans shows that in respect of integration into the EU, own efforts of the countries and their close cooperation are of crucial importance.

In his report, named “The Western Balkan Countries’ Integration into the EU and Georgia’s Perspective”, Gogolashvili points that “Moldova, Georgia and Ukraine will undoubtedly draw closer and create and deepen forms of regional cooperation on the Western Balkan model”. More...


CDB TO ALLOCATE $50M TO “TBC BANK”

TBC Bank Group declared that its TBC Bank will get $50 million from China Development Bank (CDB). The parties signed the credit agreement yesterday. More...


GEORGIAN CEMENT ASSOCIATION: 43% OF EXAMINED LOCAL PACKED CEMENT COMPLIED WITH EUROPEAN STANDARD

Georgian Cement Association reported that out of recently examined 21 samples of local packed cement, 9 products (i.e. 43% of checked volume), produced by 5 companies, satisfied to requirements of European standard EN197-1.

That means that after our examination, held in December 2017, quality of cement considerably improved, the Association declared. More...


ECONOMIC PRESS MONITOR August 14, 2018

Netgazeti.Ge: “NBG MANDATE DOES NOT ENVISAGE COMMENTING ON THE RATE – NBG”

Netgazeti.Ge reports that National Bank of Georgia (NBG) declared that its mandate does not envisage commenting on lari exchange rate.

Netgazeti.Ge asked NBG whether devaluation of lari is connected with purchase by NBG of $17.5 million at a currency auction at the beginning of August, but “didn’t receive the answer”. More...


Forbes Georgia: “THE MOST EXPENSIVELY SOLD STATE PROPERTY – TOP 10”

In Georgia, most often on sale at electronic auctions are brought transport means and electrical devices, while the most expensive is real estate, the magazine says.

Most frequently, the property is brought on sale by State Service Agency, which accounts for over 60% of lots, announced in the first half of the year. More...


Forbes Georgia: “WHAT TO DO WITH INCREASED POVERTY?”

The magazine publishes opinion of Zurab Chiaberashvili, MP from European Georgia, concerning poverty problem and universal healthcare program.

The article indicates that UNICEF survey showed that 5% of general population, 6.8% of children and 3.7% of pensioners live beyond poverty line ($1.25 a day) and their number grew from 2015 to 2017 by 2.9, 4.3 and 2 percentage points, respectively. More...


SPECIAL REPORT August 3, 2018

EXTERNAL TRADE, JANUARY-JUNE 2018

The first half of 2018 produced some interesting figures regarding Georgia’s external trade. Even though the existing data is only preliminary, the analysis thereof unveils some curious results. More...


Exchange Rates (NBG)
  08/17/18 + / -
  USD   2.5779   0.0006
  EUR   2.9344   0.0045
  RUR   3.8267   0.0232
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