Daily News October 13, 2020	Days:  09 12 13 15 16

economics

“SOCIETY AND BANKS”: IN 2012-2020, REAL ECONOMIC GROWTH AND GROWTH OF INVESTMENTS WERE LOW, WHILE LARI DEPRECIATED ALMOST TWICE

During ruling of Georgian Dream, Georgia’s real economic growth rate was low, non-governmental organization Society and Banks stated. In particular, real GDP has increased from 2012 to 2020 by about 25%, i.e. average annual growth rate made up 3%, the organization specified.




IN 9 MONTHS, GEORGIA’S TRADE TURNOVER DECREASED BY 14.9% Y-O-Y

Sakstat released express data, according to which Georgia’s commodity trade turnover in January-September (without undeclared trade) amounted to $8.1 billion. If compared with the same period of 2019, the volume has reduced by 14.9%.




IN 9 MONTHS, NUMBER OF INTERNATIONAL TRAVELERS DECREASED 4.5 TIMES Y-O-Y

Georgian National Tourism Administration reported that 1.6 million international travelers had visited Georgia in 9 months of this year. If compared with the same period of 2019, the number has decreased 4.5 times.




IN 9 MONTHS, 79.4% OF INTERNATIONAL VISITORS ARRIVED TO GEORGIA BY LAND

Georgian National Tourism Administration reported that out of total number of international visitors, arriving to Georgia in 9 months of this year (1.37 million), 1.09 million (or 79.4%) have entered the country by land. If compared with the same period of 2019, their number has decreased 4.1 times.




IN 9 MONTHS, GEORGIA’S IMPORT OF PETROL DECREASED BY 3.8% Y-O-Y, OF DIESEL – INCREASED BY 11.5%

Georgian Oil-Products Importers Union reported that import of petrol and diesel fuel to Georgia amounted in 9 months of this year to 807,500 t. If compared with the same period of 2019, the volume has increased by 3.6%.




OIL-PRODUCTS IMPORTERS UNION: INTRODUCTION OF EURO-5 STANDARD IN RESPECT OF DIESEL FUEL HAS TO BE DELAYED FOR A YEAR

Georgian Oil-Products Importers Union indicated that on January 1, 2021, resolution of Georgian government enters in force, which toughens demands to quality and ecological characteristics of diesel fuel and introduces Euro-5 standard.

In the released statement, the Union pointed that toughening of requirements and transition to Euro-5 standard should be delayed for 1 year.




STATE ENTERPRISES FINISHED 2019 WITH TOTAL LOSS OF 380M LARI

Georgian government reported that state-owned enterprises finished 2019 with total loss of 380 million lari. If compared with 2018, the volume has reduced 2.1 times.




NATIONAL WINE AGENCY: GRAPES HARVEST IN RACHA IS EXPECTED THIS YEAR AT 2,500 T

This year, unprecedented harvest of Aleksandrouli and Mujuretuli grape varieties is expected in Racha region – up to 2,500 t, Georgian National Wine Agency reported, noting that these varieties are a source of raw materials for Khvanchkara wine.

According to the Agency, 600 t of Aleksandrouli and Mujuretuli grapes were processed in Racha as of October 12.

business

IN 2019, NET PROFIT OF LLC “MODUS” DECREASED BY 10.8%

LLC Modus reported net profit of 8.7 million lari for 2019. According to audited report of the company, the volume has decreased by 10.8% year-on-year.