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Daily News


May 13, 2022

IN THIS ISSUE:

1. NBG: GEORGIA’S REAL GDP GROWTH IN 2022 WILL MAKE UP 4.5%, TOTAL INFLATION – 9.6%
2. NBG: FINANCIAL MARKET PARTICIPANTS’ EXPECTATIONS REGARDING MACROECONOMIC INDICATORS HAVE DETERIORATED
3. NBG: IN Q1, LARI NOMINAL RATE AGAINST THE US DOLLAR STRENGTHENED BY 0.5% ON AVERAGE Q-O-Q
4. IN 2021, NUMBER OF LENDING ORGANIZATIONS, COOPERATING WITH CREDIT INFORMATION BUREAU, DECREASED IN GEORGIA
5. IN 2021, 10 NON-BANK LENDING ENTITIES WERE REGISTERED IN GEORGIA, WHILE REGISTRATION OF 25 ONES WAS CANCELED
6. IN 2021, 33 CURRENCY EXCHANGE OFFICES WERE REGISTERED IN GEORGIA, WHILE REGISTRATION OF 89 ONES WAS CANCELED
7. GEORGIAN FINANCE MINISTER TO BECOME VICE-CHAIRMAN OF EBRD GOVERNORS BOARD FOR 2022-2023
8. 10.49M LARI HAS BEEN INVESTED IN A NEW HOTEL IN GRIGOLETI

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1. NBG: GEORGIA’S REAL GDP GROWTH IN 2022 WILL MAKE UP 4.5%, TOTAL INFLATION – 9.6%
Economics

National Bank of Georgia (NBG) expects that Georgia’s real GDP will grow in 2022 by 4.5%. Essential contribution to this will be provided by maintenance of high lending rate, NBG said.

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2. NBG: FINANCIAL MARKET PARTICIPANTS’ EXPECTATIONS REGARDING MACROECONOMIC INDICATORS HAVE DETERIORATED
Economics

National Bank of Georgia (NBG) reported that a survey, conducted among local financial market participants in the 2nd quarter as part of a study of macroeconomic forecasts, revealed a deterioration in expectations. The survey involved 10 organizations.

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3. NBG: IN Q1, LARI NOMINAL RATE AGAINST THE US DOLLAR STRENGTHENED BY 0.5% ON AVERAGE Q-O-Q
Economics

National Bank of Georgia (NBG) reported that in the 1st quarter, nominal exchange rate of Georgian national currency against the US dollar has strengthened quarter-on-quarter by 0.5% on average.

The official exchange rate, set by NBG for December 31, 2021, made up 3.0976 GEL/USD, while for March 31 this year – 3.1013 GEL/USD.

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4. IN 2021, NUMBER OF LENDING ORGANIZATIONS, COOPERATING WITH CREDIT INFORMATION BUREAU, DECREASED IN GEORGIA
Economics

National Bank of Georgia (NBG) reported that in 2021, the Georgian credit information bureau had among partners 224 lending organizations and 29 voluntarily cooperating organizations.

At the end of 2020, the credit bureau cooperated with 245 lending organizations (i.e. decrease in 2021 made up 21 units) and 13 voluntarily participating organizations (growth – 16 units).

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5. IN 2021, 10 NON-BANK LENDING ENTITIES WERE REGISTERED IN GEORGIA, WHILE REGISTRATION OF 25 ONES WAS CANCELED
Economics

National Bank of Georgia (NBG) reported that during 2021, 10 new lending entities (non-bank entities, serving simultaneously over 20 borrowers) were registered in the country, while registration of 25 such entities was canceled.

Accordingly, as of December 31, number of registered lending entities made up 183, which, together with branches, are placed at 345 locations countrywide, NBG said in its annual report for 2021.

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6. IN 2021, 33 CURRENCY EXCHANGE OFFICES WERE REGISTERED IN GEORGIA, WHILE REGISTRATION OF 89 ONES WAS CANCELED
Economics

National Bank of Georgia (NBG) reported that during 2021, 33 new currency exchange offices were registered in the country, while registration of 89 ones was canceled.

Accordingly, as of December 31, 2021, the number of registered currency exchange offices made up 561, which, together with branches, are placed at 732 locations countrywide, NBG said in its annual report for 2021.

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7. GEORGIAN FINANCE MINISTER TO BECOME VICE-CHAIRMAN OF EBRD GOVERNORS BOARD FOR 2022-2023
Politics

Georgia’s Finance Minister Lasha Khutsishvili, who is the managing director of EBRD from Georgia, will occupy post of EBRD vice-chairman in 2022-2023, Georgian Finance Ministry reported.

Another vice-chairman of EBRD will be representative of Jordan, while representative of Austria has been appointed chairman of the governors’ board for a period of 1 year.

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8. 10.49M LARI HAS BEEN INVESTED IN A NEW HOTEL IN GRIGOLETI
Business

Investments in Grigoleti Beach Resort, a new hotel in Grigoleti (Black Sea coast of Guria region), amounted to 10.49 million lari, the Georgian government reported. As the government noted, the hotel belongs to the international brand Trademark Collection by Wyndham.

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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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