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Daily News

May 19, 2022

Previous Issues:  Days: < 13 16 17 18 19

 

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economics

    IN 2021, NBG’S OFFICIAL RESERVE ASSETS INCREASED BY 9%

    National Bank of Georgia (NBG) reported that in 2021, its official reserve assets made up $4.27 billion, increasing by $361.4 million (by 9%) year-on-year.

    Growth of the reserves was caused mainly by funds, received by NBG from the IMF, and by funds, attracted by the Georgian government from other international organizations, most of which appear on the government’s account in NBG, as well as by currency swaps, NBG specified.


    “TBC CAPITAL” DOES NOT EXCLUDE PURCHASE OF DOLLARS BY NBG

    TBC Capital does not exclude that National Bank of Georgia (NBG) may start buying the US dollars. As the company notes, this may happen, if the pressure from strengthening of lari continues to increase.


    “TBC CAPITAL”: NO ADDITIONAL RESTRICTIONS ON FOREIGN CURRENCY LENDING ARE EXPECTED IN NEAR FUTURE

    TBC Capital pointed that National Bank of Georgia (NBG) “has indicated that there may be some further steps to curb” growth of credits, issued in foreign currency. However, “we do not expect strong Larization measures in the near term”, the company said.


    COMPETITION AGENCY: PRIME COST OF FUEL, IMPORTED TO GEORGIA FROM RUSSIA, IS LOWER THAN THE EUROPEAN ONE, BUT PRICES ON THE RETAIL MARKET ARE IDENTICAL

    In its interim report on fuel market monitoring in March-April, Georgian National Competition Agency indicates that the prime cost of fuel, imported to Georgia from Russia, is on average by 30-60 tetri (per liter) lower compared with one, imported from European countries.

    However, in case of large companies, prices of Russian fuel on the local retail market are identical to ones of European fuel, the Agency pointed.


business

    IN Q1, ADVERTISING REVENUES OF TV BROADCASTERS INCREASED BY 11.3% Y-O-Y

    Georgian National Communication Commission reported that in the 1st quarter, revenues of Georgian TV broadcasters from commercial advertising totaled to 16.3 million lari. If compared with the same period of 2020, the volume has increased by 11.3%.


    IN Q1, ADVERTISING REVENUES OF RADIO BROADCASTERS INCREASED BY 2.8% Y-O-Y

    Georgian National Communication Commission reported that in the 1st quarter, revenues of Georgian radio broadcasters from commercial advertising totaled to 1.5 million lari. If compared with the same period of last year, the volume has increased by 2.8%.


    “UZBEKISTAN AIRWAYS” TO START FLIGHTS TO BATUMI

    Since May 21, Uzbekistan Airways will operate flights from Tashkent to Batumi, Georgian Civil Aviation Agency reported. The airline received the permission on May 16.


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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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