Georgian English Russian Main Register Company Partners Feedback
Sarke Information Agency
Georgian/English/Russian Menu

Daily News
Economic Press Monitor
Special Report
 


Daily News


July 31, 2020

IN THIS ISSUE:

1. IN 6 MONTHS, GEORGIAN GDP DECREASED BY 5.8%
2. IN JUNE, INTEREST RATE ON CREDITS, ISSUED IN LARI, INCREASED BY 2 PP Y-O-Y, WHILE ON ONES, ISSUED IN FOREIGN CURRENCY – DECREASED BY 0.2 PP
3. IN JUNE, YIELD RATE ON DEPOSITS, PLACED IN LARI, INCREASED BY 2.6 PP Y-O-Y, WHILE ON ONES, PLACED IN FOREIGN CURRENCY – DECREASED BY 0.3 PP
4. IN TOTAL DEPOSITS, PLACED IN FOREIGN CURRENCY, USD ACCOUNTS FOR 83.7%
5. “HUB GEORGIA”: EFFECTIVENESS RATIO OF “GEORGIAN RAILWAY” DROPPED 2.6 TIMES
6. THE GOVERNMENT: STUDY OF COVID-19 MANAGEMENT AND PANDEMIC IMPACT IS STARTED WITH ASSISTANCE OF INTERNATIONAL PARTNERS
7. ECONOMY MINISTRY: MOLECULAR DIAGNOSTIC LAB BECAME BENEFICIARY OF “PRODUCE IN GEORGIA” PROGRAM
8. IN 2019, INCOME OF MARKETS INCREASED BY 4.4%
9. GEORGIA HOSTED REGIONAL EVENT OF “STARTUP WORLD CUP”

Full text is not available for the guests. Please, login, if you already have account, or register to get one.


1. IN 6 MONTHS, GEORGIAN GDP DECREASED BY 5.8%
Economics

Sakstat released estimation, according to which Georgia’s real GDP decreased in June by 7.7% in comparison with the same month of 2019.

Rate of decrease for the 2nd quarter made up 12.6%, while for the first half of the year – 5.8%.

Back to the Headlines


2. IN JUNE, INTEREST RATE ON CREDITS, ISSUED IN LARI, INCREASED BY 2 PP Y-O-Y, WHILE ON ONES, ISSUED IN FOREIGN CURRENCY – DECREASED BY 0.2 PP
Economics

National Bank of Georgia reported that in June, average rate of interest on Georgian money market made up 12.2%. The rate has increased by 0.1 percentage points (pp) quarter-on-quarter and by 0.5 pp year-on-year.

Back to the Headlines


3. IN JUNE, YIELD RATE ON DEPOSITS, PLACED IN LARI, INCREASED BY 2.6 PP Y-O-Y, WHILE ON ONES, PLACED IN FOREIGN CURRENCY – DECREASED BY 0.3 PP
Economics

National Bank of Georgia reported that in June, average rate of accrued interest on deposits, placed in Georgian banks, made up 7.2%. The rate has decreased by 0.7 percentage points (pp) quarter-on-quarter, but increased by 2 pp year-on-year.

Back to the Headlines


4. IN TOTAL DEPOSITS, PLACED IN FOREIGN CURRENCY, USD ACCOUNTS FOR 83.7%
Economics

National Bank of Georgia reported that in total deposits, placed in Georgian banks in foreign currency as of June 30 (equivalent of 18.4 billion lari), share of the US dollar made up 83.7%, or equivalent of 15.4 billion lari.

Volume of deposits, placed in the US dollar, has decreased by 7.3% quarter-on-quarter, but increased by 14.2% year-on-year.

Back to the Headlines


5. “HUB GEORGIA”: EFFECTIVENESS RATIO OF “GEORGIAN RAILWAY” DROPPED 2.6 TIMES
Business

Referring to conducted research, non-governmental organization HUB Georgia declared that effectiveness ratio of state-owned Georgian Railway (ratio of transported freights to consolidated operating expenses) has reduced 2.6 times in recent years.

“That indicates inefficient use of assets, which are in hands of the state”, author of the research Paata Tsagareishvili said.

Back to the Headlines


6. THE GOVERNMENT: STUDY OF COVID-19 MANAGEMENT AND PANDEMIC IMPACT IS STARTED WITH ASSISTANCE OF INTERNATIONAL PARTNERS
Politics

Administration of Georgia government declared about large-scale study of COVID-19 management and pandemic impact, started with assistance of international partners. As the administration noted, the study will be conducted jointly by 8 the UN agencies and USAID.

Back to the Headlines


7. ECONOMY MINISTRY: MOLECULAR DIAGNOSTIC LAB BECAME BENEFICIARY OF “PRODUCE IN GEORGIA” PROGRAM
Business

Georgian Ministry of Economy and Sustainable Development announced that molecular diagnostic laboratory Primelab became beneficiary of “Produce in Georgia” state program.

The laboratory will benefit from the program’s component of co-financing of credit interest, as well as from credit-and-guarantee scheme, the Ministry said.

Back to the Headlines


8. IN 2019, INCOME OF MARKETS INCREASED BY 4.4%
Economics

Sakstat reported that income of Georgian markets totaled in 2019 to 166.5 million lari. If compared with 2018, the volume has increased by 4.4%.

Back to the Headlines


9. GEORGIA HOSTED REGIONAL EVENT OF “STARTUP WORLD CUP”
Economics

Georgian Ministry of Economy and Sustainable Development reported that the country hosted for the first time regional event of “Startup World Cup”, “Black Sea & Beyond Regional Competition”. The event was held on July 30 in Tbilisi technology park (Okrokana).

Back to the Headlines


Exchange Rates (NBG)
  08/07/20 + / -
  USD   3.0758   0.0021
  EUR   3.6356   0.0046
  RUR   4.1811   0.0032
Get News in Brief by e-mail
Get daily News in Brief on your e-mail for free!
Announcements
Due to whole-day malfunction of our hosting server, we were unable to update the site on June 22.

We apologize for inconvenience, caused by that malfunction to our subscribers, and want to assure that we work hard with the hosting company in order to resolve the problem in shortest possible time.

Sincerely,

Sarke Information Agency


© 2020 Sarke Information Agency