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Daily News


June 19, 2020

IN THIS ISSUE:

1. IN Q4, RATIO OF HOUSEHOLD DEBT TO GDP DECREASED BY 1.4 PP Q-O-Q, BUT INCREASED BY 0.1 PP Y-O-Y
2. SINCE 2012, GEORGIA’S HEALTHCARE EXPENSES PER CAPITA INCREASED BY 66%
3. IN 2019, NUMBER OF OPERATIONS IN RTGS SYSTEM INCREASED BY 18.7%, WHILE THEIR VOLUME – BY 41.1%
4. NBG: COVID-19 CAUSED DECREASE OF COMMERCIAL BANKS’ DESIRE TO ISSUE RISKY CREDITS
5. IN GEORGIA, OPEN SPACE SEMINARS AND TRAININGS, AS WELL AS VARIOUS ADVENTURE ACTIVITIES ARE ALLOWED
6. HEALTHCARE MINISTRY: BY MEANS OF “STOP COVID” APPLICATION, 10 INFECTED PERSONS WERE DETECTED
7. ALLOWANCE BECAUSE OF COVID-19 IMPACT WAS RECEIVED AT THIS STAGE BY 90,775 UNEMPLOYED AND 80,081 SELF-EMPLOYED
8. “PRODUCE IN GEORGIA” AGENCY: “EVEREST GROUP” POSITIVELY ESTIMATED GEORGIA’S CAPACITY IN OUTSOURCING OF SERVICES
9. IN 2019, PROFIT OF “PROCREDIT BANK” INCREASED BY 13.8%
10. IN 2019, RETAIL LOAN PORTFOLIO OF “VTB BANK GEORGIA” DECREASED BY 6.8%

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1. IN Q4, RATIO OF HOUSEHOLD DEBT TO GDP DECREASED BY 1.4 PP Q-O-Q, BUT INCREASED BY 0.1 PP Y-O-Y
Economics

National Bank of Georgia reported that in the 4th quarter of 2019, ratio of Georgian households’ debt to GDP of the country made up 33.7%.

In the 4th quarter of 2018, the ratio made up 33.8%, i.e. year-on-year growth makes up 0.1 percentage points (pp).

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2. SINCE 2012, GEORGIA’S HEALTHCARE EXPENSES PER CAPITA INCREASED BY 66%
Economics

Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection declared that the state had spent on healthcare $71 per capita in 2012, while in 2019 – $118. Respectively, healthcare expenses per capita have increased by 66% (since coming of Georgian Dream to power).

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3. IN 2019, NUMBER OF OPERATIONS IN RTGS SYSTEM INCREASED BY 18.7%, WHILE THEIR VOLUME – BY 41.1%
Economics

National Bank of Georgia (NBG) reported that 29.2 million operations with total volume of 263 billion lari were conducted in 2019 in the system of Real Time Gross Settlement (RTGS). If compared with 2018, number of operations has increased by 18.7%, while their volume – by 41.1%.

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4. NBG: COVID-19 CAUSED DECREASE OF COMMERCIAL BANKS’ DESIRE TO ISSUE RISKY CREDITS
Economics

National Bank of Georgia (NBG) estimates that COVID-19 caused “decreased risk appetite” of financial institutions concerning crediting (i.e. decreased desire to issue the risk credits), potential growth of idle credits and raised importance of use of remote channels.

In respect of non-financial risks, major challenge in conditions of the pandemic are increased expectations concerning corporate social responsibility of financial institutions, increased dependence on information technologies and increased risks of cyber security, NBG specifies.

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5. IN GEORGIA, OPEN SPACE SEMINARS AND TRAININGS, AS WELL AS VARIOUS ADVENTURE ACTIVITIES ARE ALLOWED
Politics

Georgian government decided to allow in the country holding of seminars and trainings in open space. Besides, various adventure tourism activities are allowed too (for example, rafting, kayaking, canoeing, etc.).

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6. HEALTHCARE MINISTRY: BY MEANS OF “STOP COVID” APPLICATION, 10 INFECTED PERSONS WERE DETECTED
Politics

Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection reported that STOP COVID application, which became available to Georgian citizens on April 16, assisted to detection of 10 infected persons, according to the latest data. The last case was confirmed on June 7.

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7. ALLOWANCE BECAUSE OF COVID-19 IMPACT WAS RECEIVED AT THIS STAGE BY 90,775 UNEMPLOYED AND 80,081 SELF-EMPLOYED
Economics

Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection reported that 90,775 citizens, who lost jobs because of restrictions, imposed by the country’s government in attempt to prevent COVID-19 spread have received allowance as of June 17. Total volume of the allowances made up 18.16 million lari.

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8. “PRODUCE IN GEORGIA” AGENCY: “EVEREST GROUP” POSITIVELY ESTIMATED GEORGIA’S CAPACITY IN OUTSOURCING OF SERVICES
Economics

American management consulting company Everest Group positively estimated capacity of Georgia in outsourcing of business services, the State Agency Produce in Georgia declared.

As the Agency noted, global business services’ provider companies, which use resources of Everest Group for expansion of business activities in new countries, will have an opportunity for the first time to get acquainted with Georgia’s capacity.

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9. IN 2019, PROFIT OF “PROCREDIT BANK” INCREASED BY 13.8%
Business

ProCredit Bank reported profit of 28.9 million lari for 2019. According to audited report the bank, the volume has increased by 13.8% year-on-year.

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10. IN 2019, RETAIL LOAN PORTFOLIO OF “VTB BANK GEORGIA” DECREASED BY 6.8%
Business

Audited annual report of VTB Bank Georgia indicates that retail loan portfolio amounted in 2019 to 499.8 million lari. If compared with 2018, the volume has decreased by 6.8%.

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Exchange Rates (NBG)
  07/08/20 + / -
  USD   3.0594   0.0042
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