Daily News
April 2, 2024
IN THIS ISSUE:
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| 1. |
“TBC CAPITAL” FORECASTS GEORGIA’S ECONOMIC GROWTH TO EXCEED 6% IN 2024
Economics
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Base-line scenario sees Georgian economic growth in 2024 to exceed 6%, declared TBC Capital. Recent macroeconomic indicators indicate strong economic growth, the company said in its weekly review published today.
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| 2. |
ISET FORECAST: GEORGIA’S GDP GROWTH IN Q1 WILL BE 10.4%, IN Q2 – 10.1%
Economics
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Georgia’s real GDP growth in the 1st quarter will make up 10.4%, while in the 2nd quarter – 10.1%, forecasts the International School of Economics at Tbilisi State University (ISET). Overall in 2024, in line with our interim forecast (based on the average growth rate for the last 4 quarters), we expect real GDP growth at 8.9%, ISET said.
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| 3. |
IN Q1, DEMAND FOR GEORGIAN TREASURY BONDS 1.8 TIMES EXCEEDED OFFER, RATES DECREASED
Economics
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At 12 auctions, held in the 1st quarter on treasury bonds with maturity period from 1,028 to 3,829 days, demand totaled to 1.37 billion lari, National Bank of Georgia reported. Placement (face value) in the reporting period amounted to 889.77 million lari (accordingly, demand exceeded placement 1.8 times).
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| 4. |
IN Q1, DEMAND FOR GEORGIAN TREASURY BILLS 2.4 TIMES EXCEEDED OFFER, RATES DECREASED
Economics
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At 6 auctions, held in the 1st quarter on treasury bills (maturity period – 181 and 364 days), demand totaled to 410.5 million lari, National Bank of Georgia reported. Placement, as well as announced emission, in the reporting period amounted to 170 million lari (accordingly, demand exceeded placement 2.4 times).
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| 5. |
AS OF MARCH 31, GEORGIAN TREASURY SECURITIES IN POSSESSION OF LOCAL BANKS INCREASED IN VOLUME BY 39% Y-O-Y, IN POSSESSION OF NBG – DECREASED BY 5%
Economics
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As of March 31, Georgian banks held local treasury securities of 5.3 billion lari (year-on-year growth – 39%), National Bank of Georgia (NBG) reported. In total volume of placed securities (nominal value – 8.48 billion lari), banks accounted for 62.7%.
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| 6. |
ISET-PI: GEORGIA’S EUROPEAN FUTURE: A HOPE FOR RESOLVING POLITICAL POLARIZATION
Politics
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Decrease of alarming level of political polarization in Georgia “can be driven by events that create an undebated consensus within society, and for political and institutional actors”, considers International School of Economics at Tbilisi State University (ISET). “The EU’s support and engagement” have played twice the role of depolarizing factors and helped Georgia overcome critical challenges, ISET said.
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| 7. |
OECD/GLOBAL FORUM REPORT: IN TRANSPARENCY AND EXCHANGE OF INFORMATION FOR TAX PURPOSES, GEORGIA MAINTAINS “LARGELY COMPLIANT” RATING
Politics
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In transparency and exchange of information for tax purposes, Georgia maintains the “Largely Compliant” overall rating from its previous peer review published in 2016, OECD declared. This is stated in the recently published new report of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum).
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| 8. |
GEORGIAN REVENUE SERVICE APPROVED NORMS OF NATURAL LOSS FOR SOY- AND SUNFLOWER-CAKE
Economics
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On March 26, Georgian Revenue Service approved the norms for natural loss of soy-cake and sunflower-cake. In both cases, the permitted loss rate is set at 0.5% of the mass.
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