Daily News May 20, 2020	Days:  18 19 20 21 22

economics

“PMCG”: ACCORDING TO OPTIMISTIC SCENARIO, BUDGET DEFICIT THIS YEAR WILL MAKE UP 9.8% OF GDP, ACCORDING TO PESSIMISTIC – 11.2%

PMCG (Policy and Marketing Consulting Group) expects that Georgia’s budget deficit in 2020 will increase against the background of crisis, caused by COVID-19, from 3.1% to 9.8% and will reach, approximately, 4.9 billion lari.

According to less pessimistic scenario, the deficit will make up 11.2% of GDP (5.44 billion lari), while according to very pessimistic scenario, the deficit will reach 14.1% (6.74 billion lari).




BY CALCULATIONS OF “PMCG”, ADDITIONAL EXPENSES WITHIN THE ANTI-CRISIS PACKAGE TO MAKE UP 1.74B LARI

By calculations of PMCG (Policy and Marketing Consulting Group), additional expenses, caused by anti-crisis package of the Georgian government, will make up to 1.74 billion lari.

To remind, the government unveiled on April 24 the anti-crisis plan, which total cost makes up 3.5 billion lari.




PROGRAM OF SUPPORT TO LAND-POOR FARMERS IS LAUNCHED

Program of support to land-poor farmers, provided by the anti-crisis plan of Georgian government, was launched today. Budget of the program makes up 37 million lari.

business

PROFIT FOR 2019 REPORTED 13 OUT OF 17 INSURANCE COMPANIES

Georgian State Service for Insurance Supervision reported that out of 17 insurance companies, operating in the country, 13 ones reported profit for 2019. The profit totaled to 25.17 million lari, reducing by 40.3% year-on-year.




IN 2019, REIMBURSEMENTS IN CORPORATE SEGMENT INCREASED 2.2 TIMES

Georgian State Service for Insurance Supervision reported that share of corporate segment in Georgian insurance companies’ total reimbursements increased from 56.1% in 2018 to 71.2% in 2019. Reimbursements in this segment totaled in 2019 to 379.4 million lari, increasing year-on-year 2.2 times.




IN TOTAL REIMBURSEMENTS IN RETAIL SEGMENT FOR 2019, SHARE OF 5 COMPANIES MADE UP 84.1%

Georgian State Service for Insurance Supervision reported that share of retail segment in Georgian insurance companies’ total reimbursements decreased from 19.6% in 2018 to 14.7% in 2019. Reimbursements in this segment totaled in 2019 to 78.2 million lari, increasing by 32% year-on-year.




IN 2019, SHARE OF PUBLIC SECTOR IN TOTAL REIMBURSEMENTS DECREASED BY 10.2 PP

Georgian State Service for Insurance Supervision reported that share of public sector in Georgian insurance companies’ total reimbursements decreased from 24.4% in 2018 to 14.1% in 2019. Reimbursements in this segment totaled in 2019 to 74.9 million lari, increasing by 2.2% year-on-year.




IN 2019, WATER TRANSPORT INSURANCE PREMIUM DECREASED BY 35.5%

Georgian State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies in 2019 in water transport means’ insurance, amounted to 241,393 lari. The volume has decreased by 35.5% year-on-year and made up 0.03% of total attracted premium for the reporting year.




IN Q1, RADIO BROADCASTERS’ ADVERTISING INCOME INCREASED BY 21.5% Y-O-Y

Georgian National Communication Commission reported that Georgian radio broadcasters’ advertising income totaled in the 1^st quarter to 1.58 million lari. If compared with the same period of 2019, the volume has increased by 21.5%.