Daily News December 2, 2021	Days:  30 01 02 03 06

politics

POLOLIKASHVILI REAPPOINTED AS UNWTO HEAD

At the session of the Assembly of the UN World Tourism Organization (UNWTO), Georgian representative Zurab Pololikashvili was appointed as the Secretary General of the organization for the 2^nd term, reported Georgian Ministry of Economy and Sustainable Development. The Ministry noted that Pololikashvili was approved by 85 votes “pro” against of 26 votes “contra”.

economics

AS OF SEPTEMBER, TOTAL CREDITS INCREASED BY 15.8% Y-O-Y WITHOUT CONSIDERATION OF EXCHANGE RATE EFFECT

National Bank of Georgia reported that credits, issued by Georgian banks, totaled as of September 30 to 41 billion lari, increasing by 15.8% year-on-year (without consideration of the exchange rate effect, i.e. nominal growth).

Taking the exchange rate effect into account, the volume has increased by 12.7%, while the real growth (i.e. plus taking inflation into consideration) made up 0.4%.




AS OF SEPTEMBER, TOTAL DEPOSITS INCREASED BY 12.7% Y-O-Y WITHOUT CONSIDERATION OF EXCHANGE RATE EFFECT

National Bank of Georgia reported that deposits, placed in Georgian banks, totaled as of June 30 to 35.8 billion lari, increasing by 12.7% year-on-year (without consideration of the exchange rate effect, i.e. nominal growth).

Taking the exchange rate effect into account, the volume has increased by 9.2%, while the real growth (i.e. plus taking inflation into consideration) made up negative 3.1%.




AS OF SEPTEMBER, ROA OF GEORGIAN BANKS MADE UP 3.5%, ROE – 31.1%

National Bank of Georgia reported that as of September, aggregated return on assets (ROA) of Georgian commercial banks made up 3.5%, while return on equity (ROE) – 31.1%.

As of June, ROA made up 2.9 %, ROE – 27.5%, while as of September 2020, 0.1% and 0.9%, respectively.




21.89% OF INDIVIDUALS’ DEPOSITS ARE FULLY INSURED

Georgian Deposit Insurance Agency reported that as of September 30, deposit insurance covered 97% of retail depositors, while volume of their insured deposits made up 21.89%. As the Agency noted, 53% of insured deposits are denominated in national currency, 47% – in foreign currency.




IN 9 MONTHS, CONTRIBUTIONS TO NON-STATE PENSION SCHEMES INCREASED BY 15.9% Y-O-Y

Georgian State Service for Insurance Supervision reported that in 9 months of this year, pension contributions to non-state pension schemes totaled to 4.1 million lari. If compared with the same period of 2020, the volume has increased by 15.9%.




“GEORGIAN AIRPORTS ASSOCIATION”: GERMANY IS IMPORTANT DIRECTION FOR GEORGIAN MARKET

Director of state LLC Georgian Airports Association Tamar Archuadze held a meeting with newly appointed regional manager of Lufthansa Group Karsten Zang.

As Georgian Airports Association said, it was noted at the meeting that Germany is an important destination for Georgian market.

business

INTERNATIONAL ARBITRATION COURT RULED IN FAVOR OF “INTERRAO”, GEORGIA CONTINUES LITIGATION

The Stockholm Arbitration Tribunal partially satisfied claims of Russian InterRAO (indirect owner of energy assets in Georgia) and obliged Georgia to pay the company $80.5 million instead of the demanded $200 million, reported Georgian Ministry of Economy and Sustainable Development.

The Ministry pointed that the Georgian side considers ruling of the Tribunal unfounded and will appeal it in the Stockholm Court.