Daily News July 22, 2021	Days:  20 21 22 23 26

economics

GEORGIAN PARLIAMENT APPROVED AMENDMENTS TO THE STATE BUDGET-2021

At extraordinary plenary session today, Georgian Parliament approved (85 votes “pro”) draft amendments to the country’s budget-2021.

According to the amendments, revenues of the state budget increase by 1.17 billion lari (by 7%) compared to the previously approved plan, making up 17.93 billion lari.




GEORGIAN AND UKRAINIAN SIDES DISCUSSED PRIORITY DIRECTIONS OF ECONOMIC COOPERATION

Georgian Ministry of Economy and Sustainable Development reported that Deputy Minister Gennady Arveladze met with Ukrainian business delegation on July 21. The parties discussed priority directions of Georgia-Ukraine economic cooperation, the Ministry said.




INTRODUCTION OF PORT COMMUNITY SYSTEM IS PLANNED IN GEORGIAN PORTS

Georgian Maritime Transport Agency starts feasibility study in order to introduce Port Community System (PCS) in the country’s ports, reported Georgian Ministry of Economy and Sustainable Development. The study will be carried out with support of EBRD and Investors’ Council of the country.




IN Q2, REVENUES OF COMMERCIAL BANKS INCREASED BY 38% Y-O-Y

National Bank of Georgia reported that in the 2^nd quarter, revenues of Georgian commercial banks totaled to 1.5 billion lari. The volume has increased by 12.4% quarter-on-quarter and by 38% year-on-year, while if compared with 2019 – by 43%.




IN Q2, INTERNET OPERATIONS INCREASED IN VOLUME 2.1 TIMES Y-O-Y

National Bank of Georgia reported that transactions, carried out via internet in the 2^nd quarter, totaled to 1.6 billion lari. The volume has increased by 6.8% quarter-on-quarter and 2.1 times year-on-year.




“GALT&TAGGART”: IN 2020, GEORGIANS’ SPENDING ON FOREIGN E-COMMERCE MARKETS INCREASED BY 40.6%

Galt&Taggart estimates that Georgian citizens’ spending on foreign e-commerce markets totaled to 459 million lari in 2020. If compared to 2019, the volume has increased by 40.6%, but its share in Georgians’ total e-commerce spending (local and foreign) decreased from 88% to 77%, the company reported.




“GALT&TAGGART”: IN 2020, SIZE OF GEORGIA’S E-COMMERCE MARKET INCREASED 3.2 TIMES

Galt&Taggart estimates that size of Georgia’s local e-commerce market totaled in 2020 to 137.9 million lari. If compared with 2019, the volume has increased 2.3 times, while its share in in Georgians’ total e-commerce spending (local and cross-border) increased from 12% to 23%, Galt&Taggart reported.

business

“BELAVIA” STARTS FLIGHTS BETWEEN MINSK AND KUTAISI FROM AUGUST

Belarusian airline Belavia starts regular flights between Minsk and Kutaisi from August 4, reported Georgian Civil Aviation Agency. Permission to the airline was issued on July 21.