Daily News August 7, 2019	Days:  05 06 07 08 09

politics

NATIONAL CULTURE FUND TO START OPERATION IN THE NEXT YEAR

Georgian Parliament reported that within the reform, National Culture Fund will be created as the body, executing policy of the Ministry of Public Education, Science, Culture and Sport.

The Parliament noted that the Fund will start operation on January 1, 2020, while its budget will make up to 50 million lari.

economics

NBG: IN JUNE, Y-O-Y GROWTH OF LOAN PORTFOLIO SLIGHTLY DECREASED

In June, year-on-year growth of loan portfolio in Georgia slightly decreased and, excluding exchange rate effect, made up 14.1%, National Bank of Georgia (NBG) said in its recent monetary policy report.

The report indicates that quarter-on-quarter growth of retail crediting in the reporting month declined by 2.6 percentage points (pp) and made up 11.9%, while of legal entities’ crediting – accelerated by 1 pp, up to 16.7%.




AS OF JULY 1, CREDITING OF GEORGIAN ECONOMY INCREASED BY 25.5% Y-O-Y

National Bank of Georgia reported that crediting of national economy by Georgian banks in national and foreign currency totaled as of July 1 to 13.22 billion lari. The volume has increased by 5.3% quarter-on-quarter and by 25.5% year-on-year.




AS OF JUNE 30, MORTGAGE LOANS, ISSUED TO LEGAL ENTITIES IN LARI, INCREASED BY 25.8% Y-O-Y, IN FOREIGN CURRENCY – BY 26.7%

National Bank of Georgia reported that mortgage loans, issued by Georgian banks to legal entities in national currency, totaled as of June 30 to 1.71 billion lari. This volume has increased by 9.2% quarter-on-quarter and by 25.8% year-on-year.




AS OF JUNE 30, MORTGAGE LOANS, ISSUED TO INDIVIDUALS IN LARI, INCREASED BY 44% Y-O-Y, IN FOREIGN CURRENCY – BY 28.1%

National Bank of Georgia reported that mortgage loans, issued by Georgian banks to private individuals in national currency, totaled as of June 30 to 3.7 billion lari. This volume has increased by 19.8% quarter-on-quarter and by 44% year-on-year.




NBG: IN Q3, SLIGHT EASE OF NON-INTEREST CONDITIONS IS EXPECTED FOR MORTGAGE LOANS, ISSUED IN LARI

Referring to survey of credit conditions, National Bank of Georgia (NBG) indicates in its recent monetary policy report that representatives of Georgian banking sector expect in the next (3^rd) quarter insignificant ease of non-interest conditions on mortgage loans.

According to the report, margin on mortgage loans, issued in lari with a floating interest rate, slightly decreased.




DEPUTY MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: STRENGTHENING OF ASSOCIATIONS’ ROLE IN AGRICULTURAL PRODUCTION IS NECESSARY

“The state has vision of strengthening of a role of associations in agricultural production”, Georgia’s Deputy Minister of Environmental Protection and Agriculture Giorgi Khanishvili declared. “Our vision is that quality of food safety was completely observed on the basis of associations’ development”, he pointed.

business

11M LARI TO BE INVESTED IN PRODUCTION OF ALUMINUM CAPS

Georgian National Agency of State Property declared that enterprise, producing aluminum caps with plastic ring, will be built in Tbilisi industrial zone (Amilakhvari Str. 17). As the Agency said, over 11 million lari will be invested in the enterprise, employed about 25 people.