Daily News February 24, 2021	Days:  22 23 24 25 26

politics

PLAN OF GRADUAL REMOVAL OF RESTRICTIONS, IMPOSED BECAUSE OF COVID-19, IS ANNOUNCED

After completion of today’s meeting of interagency coordination council (established by Georgian government for fight against COVID-19), Prime Minister Irakli Garibashvili presented a plan for gradual lifting of restrictions, imposed in response to COVID-19 outbreak in the country.

In particular, intercity transport will resume operation from February 25, while municipal transport will work on weekends too.




LIST OF COUNTRIES, FROM WHICH FLY TO GEORGIA IS ALLOWED WITH PCR TEST, IS EXPANDED

Interagency coordination council, established by Georgian government for fight against COVID-19, decided today to expand from March 1 the list of countries, from which travelers are allowed to arrive in Georgia by air on condition to present negative result of PCR test on the border and mandatory retesting on the 3^rd day is stay in the country.

Namely, the list was expanded by addition of Armenia, Azerbaijan, Belarus, Kazakhstan, Russia and Ukraine.

economics

TBILISI CITY HALL SUBMITTED DRAFT LAW “ON CONSTRUCTION AMNESTY” TO THE PARLIAMENT

Tbilisi City Hall declared about submission of draft law “On Construction Amnesty” to the country’s Parliament.

At the city government meeting today, Tbilisi Mayor Kakha Kaladze said that the amnesty applies to all types of construction, from the 1^st to the 5^th class, which had construction permit and were completed prior to August 18, 2020.




FINANCIAL STABILITY COMMITTEE LEFT COUNTERCYCLICAL BUFFER INTACT

National Bank of Georgia (NBG) declared that its Financial Stability Committee decided today to keep the countercyclical buffer unchanged – at 0% level.

The Committee indicated that after the second wave of COVID-19, credit activity has slowed down and if the current trend is continued, it is expected that growth of commercial banks’ credit portfolio will be within the range of 7.5% this year.




NBG: SHARE OF IDLE LOANS IN COMMERCIAL BANKS’ PORTFOLIO MAKES UP 8.4%

National Bank of Georgia (NBG) reported that current share of idle loans in portfolio of the country’s commercial banks makes up 8.4%. Since the beginning of 2020, the share has increased by 3.9 percentage points, NBG said.

business

IN 2020, PROFITS WERE REPORTED BY 7 COMMERCIAL BANKS

Reports of Georgian commercial banks for the 4^th quarter of 2020 show that 7 out of 15 commercial banks, operating on the local market, recorded profit as of December 31, 2020.

The largest volume – 123.2 million lari – was reported by the country’s largest TBC Bank.




IN 2020, VOLUME OF DEALS ON PRIVATE COMPANIES’ BONDS DENOMINATED IN DOLLARS DECREASED 3.2 TIMES

Georgian Stock Exchange reported that volume of transactions on private companies’ bonds denominated in dollars totaled in 2020 to $8.66 million. If compared to 2019, the volume has decreased 3.2 times.




IN 2020, VOLUME OF DEALS ON PRIVATE COMPANIES’ BONDS DENOMINATED IN LARI DECREASED 2.9 TIMES

Georgian Stock Exchange reported that volume of transactions on private companies’ bonds denominated in lari totaled in 2020 to 4.5 million lari. If compared to 2019, the volume has decreased 2.9 times.