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Daily News

July 4, 2024

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economics

    IN Q2, DEMAND FOR GEORGIAN TREASURY BONDS 1.7 TIMES EXCEEDED OFFERING, YIELD RATES INCREASED IN A NUMBER OF CASES

    At 12 auctions, held in the 2nd quarter on Georgian treasury bonds with maturity period from 992 to 3,745 days, demand totaled to 1.14 billion lari, National Bank of Georgia reported.

    Placement (face value) amounted to 667.4 million lari (accordingly, demand exceeded placement 1.7 times).


    IN Q2, DEMAND FOR GEORGIAN TREASURY BILLS 1.85 TIMES EXCEEDED PLACEMENT, YIELD RATES DECREASED

    At 6 auctions on Georgian treasury bills (securities with maturity period of 181 and 364 days), held in the 2nd quarter, demand totaled to 222 million lari, National Bank of Georgia reported.

    Placement (face value) amounted to 120 million lari (accordingly, demand exceeded placement 1.85 times).


    AS OF JUNE 30, VOLUME OF GEORGIAN TREASURY SECURITIES HELD BY LOCAL BANKS INCREASED BY 44% Y-O-Y

    As of June 30, Georgian banks held local treasury securities totaling to 5.73 billion lari (year-on-year growth – 55%), National Bank of Georgia (NBG) reported.

    In total volume of placed securities (nominal value – 8.61 billion lari), banks accounted for 66.6%.


    “TI GEORGIA”: CHANGES IN PENSION AGENCY MANAGEMENT RULES WEAKEN ITS INDEPENDENCE AND TRANSPARENCY

    Legislative amendments regarding management of the Pension Agency, which were adopted by the Georgian Parliament, weaken independence and transparency of the Agency, said TI Georgia (Georgian branch of Transparency International). In particular, powers to select and dismiss members of the managing council of this structure are passed to the Prime Minister, while role of the Parliament is excluded.


    “GALT&TAGGART”: IN 2023, REVENUES OF GEORGIA’S GENERAL EDUCATION SECTOR INCREASED BY 15.5%, MAINLY DUE TO PUBLIC EXPENDITURE GROWTH

    In 2023, revenues of Georgia’s general education sector increased by 15.5% to 1.5 billion lari, mainly due to growth of government spending, Galt&Taggart indicated in the market overview.

    In particular, revenues of public schools, which account for 89.9% of total pupils’ number, increased by 13.8% to 1.1 billion lari.


    “GALT&TAGGART”: IN 2028, GEORGIAN ECONOMY COULD RECEIVE $420-500M FROM FOREIGN STUDENTS

    In 2028, Georgia could admit about 48,000 foreign students, which will bring $420-500 million to the economy, Galt&Taggart forecasted in the market overview. According to the overview, share of foreign students in 2023/2024 academic year made up 17.3%, against of 5% in 2015/2016.


    ROAD REHABILITATION IS UNDERWAY IN SACHKHERE AND KHARAGAULI MUNICIPALITIES

    Following decree of the Georgian government, rehabilitation of motor road in municipalities of Sachkhere and Kharagauli (Imereti region, from the village of Lichi to the village of Nadaburi, to the central highway) is being carried out, the Georgian Roads Department reported.

    Rehabilitation is carried out on a local road section with a length of 8.8 km.


    PROCESS OF DIGITALIZATION OF MATERIAL ARCHIVAL FILES STARTED IN “SAKPATENT”

    After scientific and technical processing, available material documentation will be digitized, reported Sakpatent (Georgian Patent).

    As a result, documents formed in 1992-2017 and stored in different locations will be brought to the system.


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