IN Q3, BUSINESS SECTOR’S TURNOVER INCREASED BY 33% Y-O-Y, WHILE OUTPUT – BY 19.8%
Sakstat reported that Georgian business sector’s turnover totaled in the 3rd quarter to 29 billion lari, increasing by 33% year-on-year.
In total turnover, major share (38.5%) had sphere of trade (including repair of cars, household appliances and personal items).
IN Q3, NUMBER OF EMPLOYED IN BUSINESS SECTOR INCREASED BY 4.6% Y-O-Y
Sakstat reported that number of employed in Georgian business sector totaled in the 3rd quarter to 696,000, increasing by 4.6% year-on-year.
In total number, share of women made up 40.9%.
NBG: HOUSEHOLDS’ CREDIT RISK REMAINS LOW
Credit risk of Georgian households remains at the low level, National Bank of Georgia (NBG) declared.
For the last 2 years, the credit risk, which is measured as share of idle credits in total loan portfolio, was characterized by a decreasing tendency, NBG specified.
NBG: HOUSEHOLDS’ LIABILITIES REACHED HIGH LEVEL, BUT GROWTH OF CREDITING SLOWED DOWN AFTER INTRODUCTION OF REGULATION
During several last years, liabilities of Georgian households have increased rapidly and reached mark, which is high in comparison with countries, similar to Georgia, National Bank of Georgia (NBG) said. In particular, in this June, households’ liabilities made up 40% of GDP.
NBG: CREDITS, ISSUED IN FOREIGN CURRENCY WITH FLOATING INTEREST RATE, GROW RAPIDLY
National Bank of Georgia (NBG) reported that credits, issued in foreign currency with floating rate of interest, are growing quickly, especially, those, issued in euro.
In particular, share of such loans in total volume of credits, issued in foreign currency, has increased to 43% in this May from 30% in the same period of the previous year, NBG said.
WITHIN USDA PROGRAM, AMERICAN VESSEL BROUGHT 27,000 T OF WHEAT TO GEORGIA
Georgian Ministry of Environmental Protection and Agriculture reported that within the program of the US Department of Agriculture (USDA) “Food for Progress”, American vessel delivered 27,000 t of wheat to Poti port. With aim of further realization, the wheat is stored in LLC Poti Grain Terminal, the Ministry noted.
IN GEORGIA, ENERGY EXCHANGE IS FOUNDED
Georgian Ministry of Economy and Sustainable Development reported that energy exchange is founded in the country for the first time.
The Ministry noted that following its request, Georgian State Electrosystem and Electricity System Commercial Operator have founded the exchange on a parity basis.
DEPUTY ECONOMY MINISTER: DURING THE NEXT YEAR, WE WILL CREATE MECHANISMS FOR SUPPORT OF CONSTRUCTION OF WIND AND SOLAR STATIONS
Georgia’s Deputy Minister of Economy and Sustainable Development David Tvalabeishvili declared that the Parliament will finish soon consideration and adoption of the bill “On Generation and Encouragement of Renewable Energy”.
As Tvalabeishvili said, “Within this law, Georgian government will create during the next year concrete mechanisms in all directions, including in terms of construction of wind and solar plants”.
THE WB PRESENTED REPORT “NEW OPPORTUNITIES FOR GEORGIAN FIRMS IN GLOBAL TOURISM VALUE CHAIN”
Today, the World Bank (WB) presented in Tbilisi the report “Beyond Arrival – New Opportunities for Georgian Firms in Global Tourism Value Chain”.
As Georgia’s First Deputy Minister of Economy and Sustainable Development Ekaterina Mikabadze pointed, the report is important for implementation of Georgia’s strategy of tourism development, which the government has prepared in cooperation with the WB.
SINCE 2020, GEORGIA TO BECOME PRESIDENT OF INTERNATIONAL OLIVE COUNCIL
On the 110th session of the International Olive Council, held in Madrid on November 25-29, Georgia was officially named the next president of this organization. Georgia will start execution of this function since January 1, 2020.
AFD TO ALLOCATE GRANT OF 500,000 EUR TO GEORGIA, INTENDED FOR RESEARCH OF DRAINAGE SYSTEM IN TBILISI
Maya Bitadze, vice-mayor of Tbilisi, declared that French Development Agency (AFD) will allocate grant of 500,000 EUR for research of drainage system in Tbilisi and the project on arrangement of early warning system. The research will be conducted in 2020, she noted.
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