Daily News August 11, 2022	Days:  09 10 11 12 01

economics

AS OF JUNE 30, GEORGIA’S STATE FOREIGN DEBT DECREASED BY 1.4% Y-O-Y

Georgian Finance Ministry reported that as of June 30, Georgia’s state foreign debt amounted to $7.9 billion. If compared with the same period of 2021, the volume has decreased by 1.4%.




“TBC CAPITAL”: GEORGIA’S ECONOMY HAS ALREADY REACHED ITS HIGHS

“The actual growth dynamics and even the bullish projection suggest that the Georgian economy has already reached its highs”, TBC Capital declared.

The company

estimates that seasonally adjusted quarter-on-quarter growth in the coming quarters is likely to be negative.




“TBC CAPITAL”: IN A YEAR, WE MAY SEE EVEN DEFLATION IN GEORGIA

“12 months ahead we may see even deflation” in Georgia, TBC Capital said. As the company noted, annual inflation in July made up 11.5%, which is 1.3 percentage points lower than a month ago.




“TBC CAPITAL”: HOUSEHOLD CONSUMPTION IN GEORGIA IS MODERATING

TBC Capital said that in 2022 and 2021, household consumption in Georgia was strong “on the back of the government transfers, resilient remittances and in 2021 strongly supported by the spending of a pandemic related excess savings”. However, the consumption is moderating, the company pointed.




AS OF JULY 1, VOLUME OF LONG-TERM CONSUMER LOANS ISSUED IN LARI INCREASED BY 36% Y-O-Y, OF SHORT-TERM ONES – BY 32.3%

National Bank of Georgia reported that as of July 1, long-term consumer loans, issued by Georgian banks in national currency, totaled to 5.94 billion lari. If compared with July 1, 2021, the volume has increased by 36%.




AS OF JULY 1, VOLUME OF LONG-TERM CONSUMER LOANS ISSUED IN FOREIGN CURRENCY INCREASED BY 36.5% Y-O-Y, OF SHORT-TERM ONES – BY 43.3%

National Bank of Georgia reported that as of July 1, long-term consumer loans, issued by Georgian banks in foreign currency, totaled to equivalent of 764.84 million lari. If compared with July 3, 2021, the volume has increased by 36.5%.




IN Q2, VOLUME OF INTERNET TRANSACTIONS IN GEORGIA INCREASED BY 25.5% Y-O-Y

National Bank of Georgia reported that online transactions, conducted in the country in the 2^nd quarter, totaled to 2 billion lari. The volume has increased by 36.5% quarter-on-quarter and by 25.5% year-on-year.