AS OF SEPTEMBER 30, GEORGIA’S SDR VOLUME INCREASED 2.3 TIMES Q-O-Q AND 2.5 TIMES Y-O-Y
National Bank of Georgia (NBG) reported that as of September 30, the country’s special drawing rights (SDR) made up $486.5 million, increasing 2.3 times quarter-on-quarter and 2.5 times year-on-year.
To remind, because of the COVID-19 pandemic, the IMF proportionally distributed among member countries an additional 456 billion SDR this year, which became effective in August.
NBG: IN JUNE, SHARE OF IDLE LOANS IN MORTGAGE LOANS ISSUED IN DOLLARS INCREASED BY 3 PP Y-O-Y, IN LOANS ISSUED IN LARI – BY 2 PP
National Bank of Georgia (NBG) reported that in June, share of idle (non-performing) loans in total mortgage loans, issued in the US dollars, made up 8%, increasing by 3 percentage points (pp) if compared with the same period of 2020. Same share for mortgage loans, issued in euros, has increased by 6 pp – also to 8%.
GEORGIAN PARLIAMENT STARTED CONSIDERATION OF DRAFT BUDGET-2022
Three committees of Georgian Parliament (on human rights protection and civic integration, on legal issues, on European integration) considered draft state budget-2022 on joint meeting today.
According to the draft, revenue part of the state budget in 2022 will make up 13.93 billion lari, exceeding by 1.68 billion lari, or by 13.7%, revenue part of the draft for 2021.
PLAN OF INCOME FROM PRIVATIZATION IN NEXT YEAR TO BE CUT BY 42.9%
Georgia’s draft state budget-2022 projects revenues from reduction of non-financial assets (i.e. privatization) at 200 million lari. If compared with the draft for 2021, the volume is reduced by 150 million lari, or by 42.9%.
ECONOMY MINISTER: DYNAMICS OF CONTAINER CARGO TURNOVER IN SO-CALLED MIDDLE TRANS-CASPIAN CORRIDOR GROWS
Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, reported that in 2020, turnover of container cargo from China via Georgia, including import, increased by year-on-year 12.9%. The trend is maintained in 2021, and year-on-year growth for January-August made up 268%, she noted.
ECONOMY MINISTER: IN 8 MONTHS, BAKU-TBILISI-KARS RAILWAY SHOWS 56.4% GROWTH
Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that despite operation of Baku-Tbilisi-Kars railway in a test mode only, it demonstrates increase of turnover by 56.4% for 8 months of this year.
“The countries, participating in the project, agreed to strengthen further their efforts in order to complete the project soon and, accordingly, to increase its capacity even more”, the Minister said.
IN 9 MONTHS, GEORGIAN WINE EXPORT IN MONETARY EXPRESSION INCREASED BY 11% Y-O-Y, IN NATURAL EXPRESSION – BY 12%
Georgian National Wine Agency reported that the country’s wine export for 9 months has totaled to $168 million, increasing by 11% year-on-year.
In the reporting period, Georgia exported 72.5 million bottles (0.75 l) of wine to 60 countries.
EBRD LAUNCHED ONLINE GUIDE FOR MICRO, SMALL AND MEDIUM-SIZED BUSINESSES
EBRD declared that in order to assist micro, small and medium-sized businesses in overcoming challenges, arisen after the COVID-19 pandemic, it has launched an online resource with a guide on legal and business issues. Presentation of the website was held today.