Daily News September 21, 2022	Days:  19 20 21 22 23

economics

IN Q2, GEORGIA’S CONSTRUCTION COST INDEX INCREASED BY 11.7% Y-O-Y

Sakstat reported that in the 2^nd quarter, Georgia’s construction cost index increased by 11.7% compared with the same quarter of 2021.

The change is mainly caused by price growth in construction materials by 11.8%, Georgian statistics service explained.




NBG SUBMITTED APPLICATION FOR SEPA MEMBERSHIP

On September 20, National Bank of Georgia (NBG) officially submitted an application for Georgia’s membership in the Single Euro Payments Area (SEPA).

NBG explained that the applications are considered by the European Payments Council, which makes a decision after consultations with the European Commission.




NBG PRESIDENT: BOTH POSITIVE ASPECTS AND CHALLENGES OF CURRENCY DIGITIZATION SHOULD BE CONSIDERED

When speaking about the digital currency, Koba Gvenetadze, president of National Bank of Georgia (NBG), indicated necessity of consideration of both positive aspects and challenges of digitization of the currency.

“Interest rates in the economy may be better controlled, since interest-bearing CBDC [Central Bank Digital Currency] will strengthen transmission of policy rate changes into all sorts of market interest rates”, Gvenetadze said.




NBG STARTED DEVELOPING A FRAMEWORK FOR ANALYZING CLIMATE SCENARIOS

National Bank of Georgia (NBG) started developing a framework for analyzing climate-related scenarios. The work is being carried out with the financial support of the European Investment Bank (EIB) and with participation of international experts, NBG reported.




AT THE END OF 2021, “GREEN” LOANS MADE UP 3.2% OF GEORGIAN BANKING SECTOR’S TOTAL PORTFOLIO

National Bank of Georgia (NBG) reported that at the end of 2021, “green” loans accounted for 3.2% of total portfolio of Georgian banking sector. In 2020, the share made up 2.5%.




AGRICULTURE MINISTER: SIGNIFICANT PART OF GRAPE HARVEST HAS ALREADY BEEN COLLECTED

Otar Shamugia, Georgia’s Minister of Environmental Protection and Agriculture, declared that a significant part of the grape harvest has been already collected in Kakheti (major wine-producing region of the country). For the moment, 120,000 t of grapes are processed, including over 65,000 t of Rkatsiteli variety, up to 50,000 t of Saperavi, etc., he said.




BUILDING OF KRTSANISI DISTRICT GAMGEOBA OPENED IN TBILISI

Today, building of gamgeoba (district administration) of Krtsanisi district was opened in Tbilisi. Cost of construction amounted to 2.74 million lari, Tbilisi City Hall reported.

society

IN HUMAN DEVELOPMENT INDEX, GEORGIA RANKS 63^RD AMONG 191 COUNTRIES

UN Development Program (UNDP) reported that in the Human Development Index (HDI), Georgia ranks 63^rd among 191 countries and territories.

Like in 90% of countries, the overall score of Georgia in 2019-2021 has slightly decreased against the background of the pandemic-driven crisis – from 0.81 to 0.802, UNDP said.