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Daily News


October 13, 2021

IN THIS ISSUE:

1. NBG: AS OF JUNE 30, EXTERNAL DEBT OF $2.1B IS DUE TO PAYMENT BY END OF THE YEAR
2. ECONOMY MINISTER: ACCORDING TO IMF, GEORGIA WILL MAINTAIN ITS POSITION AS A LEADER IN ECONOMIC GROWTH BOTH IN THE REGION AND IN EUROPE FOR THE NEXT 6 YEARS
3. IN 2022, ALLOCATIONS TO THE MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE TO INCREASE BY 15.8%
4. IN 2022, ALLOCATIONS TO THE MINISTRY OF ECONOMY AND SUSTAINABLE DEVELOPMENT TO INCREASE BY 15.3%
5. IN 2022, ALLOCATIONS TO THE MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE REDUCE BY 8.2%
6. IN 9 MONTHS, GEORGIA’S FOREIGN TRADE TURNOVER INCREASED BY 22.3% Y-O-Y
7. GEORGIAN-AUSTRIAN BUSINESS FORUM AND MEETING OF INTERGOVERNMENTAL COMMISSION ON ECONOMIC COOPERATION WERE HELD
8. ECONOMY MINISTRY: ARAB “MASDAR” EXPRESSED INTEREST IN DEVELOPMENT OF SOLAR AND WIND ENERGY IN GEORGIA

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1. NBG: AS OF JUNE 30, EXTERNAL DEBT OF $2.1B IS DUE TO PAYMENT BY END OF THE YEAR
Economics

National Bank of Georgia (NBG) reported that as of June 30, the country has to pay external debt of $2.1 billion by the end of this year.

Out of total sum, subjected to payment, Georgian banks’ debt makes up $731.3 million; NBG’s one – $7.6 million.

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2. ECONOMY MINISTER: ACCORDING TO IMF, GEORGIA WILL MAINTAIN ITS POSITION AS A LEADER IN ECONOMIC GROWTH BOTH IN THE REGION AND IN EUROPE FOR THE NEXT 6 YEARS
Economics

Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, pointed that the IMF forecasts Georgia’s real GDP growth for 2021-2026 at 5.8%.

Referring to World Economic Outlook, released by the IMF on October 12, the Minister pointed that Georgia will retain for the next 6 years its position as a leader in economic growth both in the region and in Europe.

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3. IN 2022, ALLOCATIONS TO THE MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE TO INCREASE BY 15.8%
Economics

Draft of Georgia’s state budget-2022 envisages allocation of 2.84 billion lari for the Ministry of Regional Development and Infrastructure. According to the Finance Ministry, the volume has increased by 387.3 million lari (i.e. by 15.8%), if compared with the approved plan for 2021.

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4. IN 2022, ALLOCATIONS TO THE MINISTRY OF ECONOMY AND SUSTAINABLE DEVELOPMENT TO INCREASE BY 15.3%
Economics

Draft of Georgia’s state budget-2022 envisages allocation of 741 million lari for the Ministry of Economy and Sustainable Development. According to the Finance Ministry, the volume has been increased by 98.2 million lari (i.e. by 15.3%), if compared with the approved plan for 2021.

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5. IN 2022, ALLOCATIONS TO THE MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE REDUCE BY 8.2%
Economics

Draft of Georgia’s state budget-2022 envisages allocation of 577 million lari to the Ministry of Environmental Protection and Agriculture. According to the Finance Ministry, the volume has reduced by 51.58 million lari (i.e. by 8.2%), if compared with the approved plan for 2021.

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6. IN 9 MONTHS, GEORGIA’S FOREIGN TRADE TURNOVER INCREASED BY 22.3% Y-O-Y
Economics

Sakstat reported that Georgia’s foreign trade turnover (excluding unorganized trade) for January-September amounted to $10 billion. If compared with the same period of 2020, the volume has increased by 22.3%.

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7. GEORGIAN-AUSTRIAN BUSINESS FORUM AND MEETING OF INTERGOVERNMENTAL COMMISSION ON ECONOMIC COOPERATION WERE HELD
Economics

Within the framework of Georgian President’s visit to Austria, Georgian-Austrian business forum was held, reported Georgian Ministry of Economy and Sustainable Development. The Ministry noted that such a large-scale meeting of Georgian and Austrian businessmen has not been held for years.

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8. ECONOMY MINISTRY: ARAB “MASDAR” EXPRESSED INTEREST IN DEVELOPMENT OF SOLAR AND WIND ENERGY IN GEORGIA
Business

Georgian Ministry of Economy and Sustainable Development reported that Arab company Masdar (part of UAE investment holding Mubadala) has expressed interest in investment in solar and wind energy development in Georgia. The meeting with representatives of the company was held at the Ministry today.

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Exchange Rates (NBG)
  10/19/21 + / -
  USD   3.1369   0.0025
  EUR   3.6573   0.0252
  RUR   4.4264   0.0283
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