Daily News May 23, 2023	Days:  19 22 23 24 25

politics

GEORGIAN MARITIME TRANSPORT AGENCY HAS NEW HEAD

Georgian Maritime Transport Agency declared about appointment of Alexi Akhvlediani as its new director. He has replaced Tamar Ioseliani, who left the office in April.

economics

IN Q4 OF 2022, GEORGIA’S RATIO OF HOUSEHOLD DEBT TO GDP MADE UP 37.3%

National Bank of Georgia (NBG) reported that in the 4^th quarter of 2022, ratio of Georgian households’ debt (total volume of debt owed to the banking and non-banking financial sector) to the country’s GDP made up 37.3%. A year ago, i.e. in the 4^th quarter of 2021, this ratio made up 39.9%.




IN 2022, PORTFOLIO INVESTMENTS IN GEORGIA WERE POSITIVE ONLY IN Q1

National Bank of Georgia (NBG) reported that in 2022, positive showing of portfolio investments in the country was recorded only in the 1^st quarter, making up $43.7 million. Ratio of portfolio investments to Georgia’s GDP made up 1%.




AS OF MARCH, SHARE OF REAL ESTATE AND CONSTRUCTION IN TOTAL LENDING IN GEORGIA MADE UP 6.1%, SHARE OF IDLE LOANS IN THIS SEGMENT – 4.8%

National Bank of Georgia reported that in total loans, issued by the Georgian banking sector as of March (44.9 billion lari), lending of the real estate and construction sector accounted for 6.1%. In the same period of 2022, this share made up 6.4%.




GEORGIA AND HUNGARY AGREED TO PROMOTE AGRI-FOOD TRADE

A memorandum of cooperation between Georgia and Hungary was signed in Tbilisi today to promote trade in agri-food production. The document was signed during the visit of Hungarian Minister of Agriculture Istvan Nagy to Georgia.




GEORGIAN DELEGATION PARTICIPATES IN QATAR ECONOMIC FORUM

Georgian delegation, headed by Prime Minister Irakli Garibashvili, takes part in annual economic forum in Qatar. The forum (May 23-25) is organized by Bloomberg and is held under the patronage of the Emir of Qatar.

business

“WIZZ AIR” TO INCREASE FREQUENCY OF FLIGHTS BETWEEN KUTAISI AND ABU DHABI

Kutaisi-based Hungarian low-coster Wizz Air decided to increase the frequency of flights between Kutaisi and Abu Dhabi (UAE) from 7 to 9 flights per week.

Starting from August and until end of the summer navigation season, regular flights will be carried out also on Thursdays and Sundays, reported state-owned LLC Georgian Airports Association, which operates the airport.




DIRECT FLIGHTS TO START FROM KAZAKHSTAN TO BATUMI

The Ajara government declared that direct flights are starting to Batumi from 8 cities of Kazakhstan.

However, the government provided details regarding only one route, saying that Kazakh airline Scat will operate 2 flights a week between Astana and Batumi starting from June 10 and until end of the summer navigation period.