WB FORECAST: GEORGIA’S GDP GROWTH IN 2021 WILL MAKE UP 4%
The World Bank (WB) expects growth of Georgia’s economy (in constant market prices) in 2021 to make up 4%, “with the key baseline assumption that there are no further severe waves of COVID-19 infections that necessitate additional lockdowns and ongoing political impasse is resolved”.
In 2022, growth is projected at 5%.
NBG PRESIDENT: EXCHANGE RATE IS UNDERGOING EXCESSIVE DEPRECIATION NOW, WHICH WILL BE FOLLOWED BY REVERSAL
Koba Gvenetadze, president of National Bank of Georgia (NBG), points that unprecedented circumstances, emerged because of the COVID-19 pandemic, had essentially negative impact on the country’s external revenues, forex market, inflation and economic activity in general.
The pandemic situation continues, this is added by the events in Turkey (sharp drop of Turkish lira), generating excessive fluctuations on forex market, Gvenetadze says.
“SAKSTAT” STUDY: SINCE MARCH 2020, AVERAGE MONTHLY INCOME REDUCED FOR 53% OF HOUSEHOLDS
With assistance of the UN International Children’s Fund (UNICEF), Sakstat launched a real-time study of the COVID-19 impact on the well-being of families and children. The study covers 2,118 households nationwide, including 996 in urban and 1,122 in rural areas.
IN 2020, PASSENGER TRAFFIC AT GEORGIAN AIRPORTS DROPPED BY 84%
Georgian Civil Aviation Agency reported that Georgian airports served 833,846 passengers in 2020. If compared with 2019, the passenger traffic has decreased by 84%.
THE GOVERNMENT APPROVED TECHNICAL REGULATION “ON COCOA AND CHOCOLATE PRODUCTS INTENDED FOR HUMAN CONSUMPTION”
At the meeting today, Georgian government approved technical regulation “On Cocoa and Chocolate Products Intended for Human Consumption”. The regulation will enter in force on July 1, 2023.