Daily News August 9, 2019	Days:  07 08 09 12 13

politics

PROSECUTOR’S OFFICE BROUGHT IN INDICTMENT AGAINST FORMER DIRECTOR GENERAL OF “RUSTAVI-2”

Georgian Prosecutor’s Office declared today that it has brought in indictment against of Nika Gvaramia, former director of Rustavi-2 TV company, accusing him of “use of managerial and representative powers in the company for detriment of legitimate interests of this organization in favor of the third parties that caused significant damage to the company”.

In reply, 14 non-governmental organizations of the country declared that “this case could be politically motivated and targets oppression of opponent and critical media”.




PRIME MINISTER: SAFETY OF EURO-ATLANTIC SPACE CANNOT BE IMAGINED WITHOUT SAFETY OF THE BLACK SEA REGION

“I am strongly convinced that without safety of the Black Sea region, safety of Euro-Atlantic space could not be imagined”, Georgia’s Prime Minister Mamuka Bakhtadze declared.

The Premier declared this today, while speaking at the closing ceremony of multinational military exercises “Agile Spirit 2019”, which Georgia hosted between July 27 and August 9.

economics

AS OF JULY 1, INDIVIDUALS’ DEPOSITS, PLACED IN NATIONAL CURRENCY, INCREASED BY 28.6% Y-O-Y

National Bank of Georgia reported that deposits, placed by individuals (including sole proprietors) in Georgian banks in national currency, totaled as of July 1 to 3.45 billion lari. The volume has increased by 9.2% quarter-on-quarter and by 28.6% year-on-year.




AS OF JULY 1, INDIVIDUALS’ DEPOSITS, PLACED IN FOREIGN CURRENCY, INCREASED BY 20.5% Y-O-Y

National Bank of Georgia reported that deposits, placed by individuals (including sole proprietors) in Georgian banks in foreign currency, totaled as of July 1 to equivalent of 10.18 billion lari. The volume has increased by 6.1% quarter-on-quarter and by 20.5% year-on-year.




AS OF JULY 1, LEGAL ENTITIES’ DEPOSITS, PLACED IN NATIONAL CURRENCY, INCREASED BY 9.8% Y-O-Y

National Bank of Georgia reported that deposits, placed by legal entities in Georgian banks in national currency, totaled as of July 1 to 6.12 billion lari. The volume has increased by 3.7% quarter-on-quarter and by 9.8% year-on-year.




AS OF JULY 1, LEGAL ENTITIES’ DEPOSITS, PLACED IN FOREIGN CURRENCY, INCREASED BY 14.1% Y-O-Y

National Bank of Georgia reported that deposits, placed by legal entities in Georgian banks in foreign currency, totaled as of July 1 to equivalent of 5.95 billion lari. The volume has increased by 1.8% quarter-on-quarter and by 14.1% year-on-year.




“TBC RESEARCH”: AFTER EXCESSIVE LARI DEPRECIATION AND PRESSURE ON PRICES, NBG TURNED MORE HAWKISH INCREASING LIKELIHOOD OF RATE HIKES

“After excessive lari depreciation and pressure on prices, NBG turned more hawkish increasing the likelihood of rate hikes”, TBC Research said.

Stronger crediting in lari and lower growth of deposits in lari caused start of normalization of liquidity level, which was excessive in the beginning of the year, being “mainly driven by the expansionary fiscal stance and NBG buying reserves”.




“TBC RESEARCH”: REVENUES FROM TOURISM COULD GROW IN THE NEXT 12 MONTHS BY 5% IN DOLLAR EXPRESSION

TBC Research forecasts that Georgia’s revenues from tourism could increase by 5% in the US dollar expression over the next 12 months. Moreover, the company indicates that the growth rate could be even 8.4%, “based on updated information”.