Daily News May 20, 2022	Days:  18 19 20 23 24

economics

NBG PRESIDENT: NEW REALITY CAUSED UPWARD REVISION OF PRE-WAR FORECASTS FOR INFLATION

Koba Gvenetadze, president of National Bank of Georgia (NBG), declared that “the new reality caused upward revision of pre-war forecasts for inflation” (the matter concerns Russia-Ukraine war).

“Due to worsened imbalances in the global supply and demand, sharp rises of energy and food prices on international commodity markets have already been transmitted to consumer prices in Georgia”, Gvenetadze pointed.




GEORGIA’S STATE BUDGET REVENUE PLAN FOR Q1 WAS OVER-FULFILLED BY 1.3%

Georgian State Treasury reported that in January-March, the state budget revenues totaled to 4 billion lari. This corresponds to 101.3% of the forecast volume for the 1^st quarter, the State Treasury pointed.




IN Q1, STATE BUDGET PLAN FOR PRIVATIZATION WAS UNDER-FULFILLED BY ALMOST 20%

Georgian State Treasury reported that in January-March, proceeds from reduction of non-financial assets (privatization) amounted to 34.86 million lari. This sum makes up 79.2% of the projected volume, the State Treasury said.




GEORGIA’S STATE BUDGET PAYMENTS PLAN FOR Q1 WAS FULFILLED BY 93.9%

Georgian State Treasury reported that in January-March, factual payments of the state budget amounted to 4.27 billion lari against of the plan of 4.54 billion lari. Thus, the 1^st quarter’s plan for payments was fulfilled by 93.9%, the State Treasury said.




“TBC CAPITAL”: STRONG POSITIVE IMPACT OF MIGRATION STILL PERSISTS IN RELATION TO PRICE OF RENT OF RESIDENTIAL REAL ESTATE IN TBILISI

A strong positive impact of migration still persists in relation to the price of rent of residential real estate in Tbilisi, TBC Capital declared.

In April, the price continued accelerated growth, remaining above the pre-pandemic level, and has reached a record high, TBC Capital noted.




“GALT&TAGGART”: 80,000-120,000 VISITORS FROM RUSSIA, UKRAINE AND BELARUS ARRIVED TO GEORGIA FOR A LONGER PERIOD THAN REGULAR TOURISTS

Galt&Taggart estimates that 80,000-120,000 visitors from Russia, Ukraine and Belarus relocated to Georgia for a longer period than regular tourists.

Galt&Taggart noted that total revenues from tourism for the 1^st quarter include also costs of migrants (from Russia, Belarus, Ukraine), who arrived in Georgia after outbreak of the Russia-Ukraine war.

business

IN 2021, PROFIT OF “TELASI” MADE UP 55.8M LARI

JSC TELASI reported profit of 55.85 million lari for 2021. In 2020, the company had loss of 72.95 million lari.




REGULATING COMMISSION: “TELASI” DID NOT SECURE FULL-FLEDGED SEPARATION OF ACTIVITIES UNTIL NOW

Georgian National Energy and Water Supply Regulating Commission declared that JSC TELASI (Tbilisi energy distributor) did not secure a full-fledged separation of activities until now.

The matter concerns separation of activities of JSC TELASI, as the distribution system operator, and LLC TELMICO, as the electricity supplier.