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Daily News

May 24, 2024

Previous Issues:  Days: < 20 21 22 23 24

 

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politics

    EKATERINA GHAZADZE NOMINATED FOR VACANT POST IN NBG COUNCIL

    The selection commission recommended 5 candidates for vacant posts in the Council of National Bank of Georgia (NBG).

    Among them, Georgian President picked candidacy of Ekaterina Ghazadze and presented her today to the Parliament for appointment.


economics

    IN Q1, LARI DEPRECIATED AGAINST US DOLLAR BY 0.9% Q-O-Q

    In the 1st quarter, nominal exchange rate of lari against the US dollar has depreciated by 0.9% compared to the 4th quarter of 2023, National Bank of Georgia (NBG) reported. Lari rate against euro has strengthened by 0.1%.


    NBG: IN Q4 OF 2023, PRODUCTIVITY IN GEORGIAN ECONOMY INCREASED BY 2.5% Y-O-Y

    In the 4th quarter of 2023, productivity (real added value per employee) in the Georgian economy increased by 2.5% year-on-year, National Bank of Georgia (NBG) reported.

    During the same period, average nominal wage in the country increased by 15.3% and amounted to 2,044 lari (per month).


    NBG: STRONG GROWTH OF ECONOMIC ACTIVITY IN GEORGIA IN RECENT YEARS IS SOMEWHAT THE RESULT OF STRUCTURAL CHANGES AND PRODUCTIVITY GROWTH

    Restrictions caused by the COVID-19 pandemic affected services sector the most, while services occupy one of the biggest shares in the Georgian economy, National Bank of Georgia (NBG) indicated.

    Accordingly, negative contribution to the potential growth of 2020 was made exactly by the labor factor, although contributions of productivity and capital were also quite low, NBG said.


    IN 2023, AVERAGE MONTHLY INCOME PER HOUSEHOLD IN GEORGIA INCREASED BY 18.4%, EXPENSES – BY 16.7%

    In 2023, average monthly income per household in Georgia (monetary and non-monetary) amounted to 1,722 lari, Sakstat reported. If compared with 2022, the volume has increased by 18.4%.


    IN Q1, REVENUES OF GEORGIA’S STATE BUDGET EXCEEDED THE FORECAST BY 0.8%

    In January-March, actual revenues of the state budget amounted to 5.59 billion lari, making up 100.8% of the forecast, Georgian State Treasury reported.

    In particular, tax revenues amounted to 5.2 billion lari, making up 100.1% of the forecast.


    GEORGIA’S STATE BUDGET PLAN FOR PRIVATIZATION FOR Q1 EXCEEDED BY 69.2%

    In the 1st quarter, revenues of the state budget from decrease in non-financial assets (privatization) amounted to 60.92 million lari, Georgian State Treasury reported. This volume makes up 169.2% of the forecast (36 million lari), the State Treasury noted.


    IN Q1, GEORGIA’S BUDGET BALANCE OF STATE TREASURY ACCOUNT INCREASED BY 26%

    As of April 1, the state budget balance of the Treasury account amounted to 2.14 billion lari against of 1.58 billion lari as of January 1, 2024, Georgian State Treasury reported.

    Accordingly, the change (accumulation) of the balance amounted to 562.74 million (or the balance has increased by 26%).


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Exchange Rates (NBG)
  05/27/24 + / -
  USD   2.7680   0.0434
  EUR   3.0058   0.0518
  RUR   3.1241   0.0894
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