Daily News October 7, 2021	Days:  05 06 07 08 11

politics

“WASTE DETECTOR”: IN AUGUST-SEPTEMBER, “GEORGIAN DREAM” GOT DONATIONS OF UP TO 7.72M LARI

Waste Detector, media project of non-governmental organization Governance Monitoring Center (GMC), reported that up to 7.72 million lari was donated to the ruling Georgian Dream in August-September (in the eve of local elections on October 2). At that, some individuals have donated funds twice, the organization noted.

economics

WB INCREASED GEORGIA’S GDP GROWTH FORECAST

“Georgia’s GDP growth rate for 2021 is now projected at 8%” (by baseline scenario), the World Bank’s October regional survey indicates. The updated forecast is by 2 percentage points higher than the April forecast of 6%.




NBG: IN RECENT YEARS, RISKS ACTING FROM THE SIDE OF NON-RESIDENTS’ DEPOSITS, DID NOT INCREASE

National Bank of Georgia (NBG) estimates that risks, acting from the side of non-residents’ deposits in Georgian banks, have not increased in recent years.

In its recently published financial stability report, NBG said that as of end of June, deposits of non-residents (not banks) in Georgian banking sector amounted to 5 billion lari, accounting for 15% of total volume of deposits.




“FITCH”: PRESSURE FROM PANDEMIC EASES ON GEORGIAN BANKING SECTOR

“The pressure from the pandemic on Georgian banking sector has reduced amid the strong economic growth”, Fitch Ratings said in a comment, released following webinar on Georgia on October 5. However, “asset quality remains key to banks’ credit profiles”, the rating agency pointed.

business

“FITCH”: “STABLE” OUTLOOK REFLECTS A DECREASE IN THE PRESSURE OF THE PANDEMIC ON GEORGIAN BANKS, BUT CREDIT LOSSES ARE STILL POSSIBLE

Fitch Ratings said that it revised rating outlooks of Georgia’s TBC Bank, Sakartvelos Banki (Bank of Georgia), Liberty Bank and Terabank from “negative” of the first half of the year to “stable”. As a result, all 7 Georgian banks that have been rated by the agency have “stable” outlooks now.




AS OF JUNE 30, NUMBER OF MOBILE INTERNET USERS INCREASED BY 15.2% Y-O-Y

Georgian National Communication Commission reported that as of June 30, total number of Georgian mobile networks’ subscribers, who use internet services, made up 3.07 million. If compared with the same period of 2020, the number has increased by 15.2%.




AS OF JUNE 30, NUMBER OF FIXED-LINE SUBSCRIBERS DECREASED BY 15.9% Y-O-Y

Georgian National Communication Commission reported that as of June 30, there were 308,777 fixed-line subscribers in the country. If compared with the same period of 2020, the number has decreased by 15.9%.