Daily News February 5, 2020	Days:  03 04 05 06 07

economics

NBG RAISED FORECAST OF REAL GDP GROWTH FOR 2020

National Bank of Georgia (NBG) raised forecast of the country’s real GDP growth for 2020 from 4.5% to 5%.

To note, estimated rate of real GDP growth in 2019 makes up 5.2%.




NBG: IN 2020, INFLATION WILL BEGIN TO DECREASE

National Bank of Georgia (NBG) expects that in 2020, inflation in the country will begin to decrease.

To note, annual inflation in December 2019 made up 7%, while in January of this year – 6.4%.




NBG: IN Q4 OF 2019, NOMINAL EXCHANGE RATE OF LARI AGAINST THE US DOLLAR DEPRECIATED BY 0.9% Q-O-Q

National Bank of Georgia (NBG) reported that in the 4^th quarter of 2019, nominal exchange rate of lari against the US dollar has depreciated by 0.9% quarter-on-quarter. Depreciation against euro made up 0.4%.




NBG: IN 2019, CURRENT ACCOUNT DEFICIT CONTINUED IMPROVEMENT

In 2019, the country’s negative balance of international payments continued improvement, National Bank of Georgia (NBG) declares.

In the 3^rd quarter 2019, the balance was positive and made up $11.8 million (0.3% of GDP), NBG reports.




“TBC RESEARCH”: 2019 DELIVERED A STRONG GROWTH IN THE GEORGIAN FIXED INCOME MARKET

“2019 delivered a strong growth in the Georgian fixed income market”, TBC Research declared, specifying that the year-on-year growth made up 40%. If excluding exchange rate effect, the growth made up 38%.




TBILISI MAYOR: IMPROVEMENT OF ELIAVA MARKET’S TERRITORY WILL BE CARRIED OUT STEP BY STEP

Tbilisi Mayor Kakha Kaladze considers that Eliava market (wholesale market of construction materials and tools, located in Didube district of the capital) “creates serious discomfort for persons, working there, as well as for those people, who come daily for various purchases”.

As a result of communication with owners of the market, “the decision was made that operation of the market in the form, existing today, is unacceptable”, the Mayor declared at the capital government meeting today.




TBILISI MAYOR: REHABILITATION OF PUPILS PALACE AND MILITARY SCHOOL WILL BEGIN THIS YEAR

Tbilisi Mayor Kakha Kaladze declared that full rehabilitation of two monuments of cultural heritage, Pupils Palace and Military School, built in the 19^th century, will begin in the current year.

The Mayor said this at the capital government meeting today and noted that “rehabilitation of dangerous structures will need 2 years”.




TBILISI MAYOR: MULTIFUNCTIONAL SPORTS COMPLEX WILL BE BUILT IN SAMGORI DISTRICT

Tbilisi Mayor Kakha Kaladze declared that multifunctional sports-and-recreation complex will be built in Samgori district of the capital.

For that end, land plot of 91,642 square m in Samgori district is handed over to Auto Racing Federation of Georgia, the Mayor reported at the capital government meeting today.