Daily News May 18, 2020	Days:  14 15 18 19 20

economics

“TBC CAPITAL” FORECAST: IN 2020, GEORGIA’S GDP WILL DROP BY 4.5-5.5%

TBC Capital forecasts that by basic scenario, Georgia’s GDP in 2020 will decrease by 4.5-5.5%. Growth forecast gradually worsened From February to April, however then was stabilized, the company notes.




“TBC CAPITAL” FORECAST: IN 2020, NET VOLUME OF EXPECTED UNDER-RECEIVED CURRENCY INFLUXES WILL MAKE UP ABOUT $1.4B

In 2020, Georgia is expected to under-receive currency influxes of $1.4 billion, TBC Capital forecasts.

The company expects that out of total, $900 million will fall on the current account, while $500 million – on foreign direct investments.




UNEMPLOYMENT RATE IN GEORGIA WENT DOWN IN 2019 BY 1.1 PP, EMPLOYMENT RATE – BY 0.2 PP

In 2019, unemployment rate in Georgia went down in comparison with 2018 by 1.1 percentage points (pp) and made up 11.6%, Sakstat reported. There is a decreasing tendency of the unemployment rate for the last 10 years, Georgian statistics service noted.




BECAUSE OF INVESTMENT IN BANKS’ DEPOSIT CERTIFICATES, FUNDS ON PENSION AGENCY’S ACCOUNT IN NBG IN Q1 DECREASED 9.2 TIMES Q-O-Q

National Bank of Georgia (NBG) reported that sum on the account of the Pension Agency in NBG totaled as of March 31 to 7.99 million lari. The sum has decreased 9.2 times in 3 months.




IN MAY, ANOTHER 3 WINE APPELLATIONS REGISTERED

Georgian National Wine Agency reported that list of Georgia-registered appellations was expanded in May by 3 names – Tsarapi, Akhmeta and Salkhinos Ojaleshi. As a result, the list contains now 23 appellation names.

business

IN 2019, OBLIGATIONS’ FULFILLMENT INSURANCE PREMIUM INCREASED BY 15.7%

Georgian State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies in 2019 in obligations’ fulfillment insurance, amounted to 11.3 million lari. The volume has increased by 15.7% year-on-year and made up 1.8% of total attracted premium for the reporting year.




“VTB BANK GEORGIA” FINISHED Q1 WITH LOSS OF 30.5M LARI

VTB Bank Georgia reported loss of 30.5 million lari for the 1^st quarter. In the same period of 2019, the bank had profit of 2.4 million lari.




“PROCREDIT BANK” FINISHED Q1 WITH LOSS OF 16.79M LARI

ProCredit Bank reported loss of 16.79 million lari for the 1^st quarter. In the same period of 2019, the bank had profit of 4.55 million lari.