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Daily News

April 5, 2021

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economics

    BAG: IN Q1, COMPANIES ESTIMATED OWN CURRENT SITUATION NEGATIVELY, WHILE EXPECTATIONS FOR THE NEXT 6 MONTHS – POSITIVELY

    In the 1st quarter, the surveyed companies negatively estimated own current situation, while expectations for the next 6 months are positive, reported Business Association of Georgia (BAG).

    The Association reported that in the 1st quarter, BAG Business Climate Index made up 14.6.


    BAG: SHARE OF COMPANIES THAT BELIEVE THAT THERE ARE OBSTACLES TO THEIR ACTIVITIES HAS DECREASED, BUT STILL NOT TO PRE-PANDEMIC LEVEL

    In the 1st quarter, share of companies that believe that there are factors, hindering their business activities, decreased in comparison with the 4th quarter of 2020 by 5 percentage points and made up 74%, reported Business Association of Georgia.

    However, this showing still has not returned to pre-pandemic level of 69%, the Association pointed.


    IN 2020, 35.4% OF BAG MEMBER COMPANIES INCREASED INVESTMENTS, WHILE 33.6% DECREASED

    Business Association of Georgia (BAG) reported that 35.4% of companies, surveyed within the study, declared that said that their investments in 2020 have increased, compared to 2019.

    At that, 33.6% declared that the volume has decreased, while 31% said that volume of investments has not changed, the Association pointed.


    BAG: IN CONDITIONS OF PROPER REGULATORY CHANGES, MINING INDUSTRY CAN ATTRACT SIGNIFICANT INVESTMENTS

    Today, Business Association of Georgia (BAG) hosted discussion of mining-related issues. At the meeting, weak points were identified that hinder attraction of investments in the mining sector, the Association said.


    EX-PRESIDENT OF NBG: WE HAVE NO GUARANTEE THAT FOREIGN CURRENCY INFLOW WILL STRENGTHEN LARI

    Roman Gotsiridze, who served as president of National Bank of Georgia during the rule of United National Movement, notes that it is often said that “when tourists and investments return, lari will strengthen”.

    “Have we any guarantee that growth of foreign currency inflows will strengthen lari?”, Gotsiridze asks and answers: “Nope”.


business

    IN 2020, 5 INSURANCE COMPANIES ACCOUNTED FOR 68.4% OF TOTAL ATTRACTED PREMIUM

    Georgian State Service for Insurance Supervision reported that in total premium, attracted by the country’s insurance sector in 2020 (667.3 million lari), combined share of 5 companies made up 456.4 million lari (or 68.4%). If compared with 2019, that top five comprised of the same companies, though their positions have changed.


    IN 2020, 5 INSURANCE COMPANIES ACCOUNTED FOR 72.4% OF TOTAL REIMBURSEMENTS

    Georgian State Service for Insurance Supervision reported that in Georgian insurance sector’s total reimbursements for 2020 (385.5 million lari), combined share of 5 companies made up 279.2 million lari (or 72.4%). That top five has changed since 2019.


society

    NBG: SYSTEMIC BANKS OFFER CLIENTS REGISTRATION FOR “MY CREDITINFO” SERVICE THROUGH DIGITAL CHANNELS

    National Bank of Georgia (NBG) says that the country’s systemic banks offer clients registration for the “My CreditInfo” service through digital channels (internet/mobile banking). That became possible within framework of the project, launched in February 2021 with participation of CreditInfo Georgia (credit bureau) and systemic banks (TBC Bank, Sakartvelos Banki (Bank of Georgia) and Liberty Bank).


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Exchange Rates (NBG)
  04/13/21 + / -
  USD   3.4235   0.0003
  EUR   4.0709   0.0089
  RUR   4.4397   0.0063
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