TOTAL CREDITS IN Q1 INCREASED BY 18.6% Y-O-Y
National Bank of Georgia (NBG) reported that total credits amounted as of March 31 to 22.2 billion lari, increasing year-on-year by 18.6%.
If exclude exchange rate effect, year-on-year growth of credits made up 17.7%, while if excluding inflation (i.e. real growth) – 14.9%.
TOTAL DEPOSITS IN Q1 INCREASED BY 22.8% Y-O-Y
National Bank of Georgia (NBG) reported that total deposits amounted as of March 31 to 19.6 billion lari, increasing by 22.8% year-on-year.
If exclude exchange rate effect, year-on-year growth of deposits made up 21.9%, while if excluding inflation (i.e. real growth) – 19%.
NBG: CREDITING TERMS IN Q1 BECAME SLIGHTLY TOUGHER IN COMPARISON WITH PREVIOUS QUARTER
Interest terms of crediting, both corporate and retail, became slightly tougher in the 1st quarter in comparison with the previous quarter, National Bank of Georgia (NBG) reported.
In its monetary policy report, NBG said that toughening of conditions was caused by expected growth of spending of resource, denominated in foreign currency, which was partially balanced by economic tendencies and competition.
THE PARLIAMENT APPROVED GROWTH OF SUM WITHIN GRANT AGREEMENTS WITH THE US
At the plenary session today, Georgian Parliament ratified amendments to grant agreement between Georgia and the US, signed on December 22, 2015 (for inclusive and sustained economic growth). The ratification was supported by 81 MPs, the Parliament reported.
BY 2020, GEORGIA PLANS TO DOUBLE CROSS-BORDER CAPACITY OF ELECTRIC POWER
For the end of 2017, net capacity of Georgia’s lines of cross-border electricity transmission totaled to 2,550 MW, National Energy and Water Supply Regulating Commission reported.
The Commission said that taking into account implementation of new infrastructure projects, it is planned to increase by 2020 the mentioned capacity up to 4,500 MW, i.e. almost doubling indicator of 2017.
FAO EXPERTS: GEORGIAN HERBS HAVE GOOD BASIS FOR ENTERING TO GLOBAL MARKET
“Considering favorable climate conditions for production of herbs and a long-standing growing tradition, Georgia has a good basis to build its expansion to the global market”, experts of the UN Food and Agriculture Organization (FAO) consider.
The experts note that currently, export of Georgian herbs is almost exclusively focused on Russian market.
RESTORATION OF 5 FORMER SANATORIA OF TSKALTUBO NEEDS ABOUT $65M
Restoration of 5 former sanatoria in Tskaltubo resort (famous spa resort of Soviet era, Imereti region) requires in total about $65 million.
This sum was provided in the presentation, which Jean-Frederic Paulsen, chief adviser of the Ministry of Economy and Sustainable Development, held at the annual investment forum in Tbilisi (May 15, organizer – Business Information Agency, BIA).
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