Daily News December 30, 2020	Days:  28 29 30 11 12

economics

AS OF SEPTEMBER 30, GEORGIA’S TOTAL FOREIGN DEBT MADE UP 120.4% OF GDP

National Bank of Georgia (NBG) reported that Georgia’s foreign debt totaled to $19.7 billion as of September 30. As NBG noted, this volume corresponds to 120.4% of the country’s GDP for the last 4 quarters.




AS OF SEPTEMBER 30, DEFICIT OF GEORGIA’S CURRENT ACCOUNT MADE UP 13% OF GDP

National Bank of Georgia (NBG) reported that negative balance of Georgia’s international payments balance amounted in the 3^rd quarter to $556.7 million. This volume is equivalent to 13% of GDP for the last 4 quarters, NBG noted.




AS OF SEPTEMBER 30, GEORGIA’S INTERNATIONAL LIABILITIES 3.2 TIMES EXCEEDED INTERNATIONAL ASSETS

National Bank of Georgia reported that as of September 30, net international investment position of Georgia made up negative $23.9 billion. As NBG noted, the volume corresponds to 146.3% of GDP for the last 4 quarters.




AFTER RECALCULATION BY NEW METHODOLOGY, UNEMPLOYMENT RATE INCREASED BY 5.1 PP

According to the new standards, Georgia’s unemployment rate in the 3^rd quarter made up 17%, Sakstat said. The rate, calculated by the old methodology, made up 11.9% (accordingly, growth made up 5.1 percentage points (pp)).




IN 2020, NBG SOLD $873.22M

National Bank of Georgia (NBG) reported that this year, it has sold $873.22 million at currency auctions.

The sum includes $30 million, sold at the currency auction today.




IN 2020, PROCEEDS FROM PRIVATIZATION EXCEEDED THE PLAN BY 6%

Georgian Ministry of Economy and Sustainable Development reported that National Agency of State Property has mobilized over 146 million lari in 2020.

In particular, over 130 million lari was gained from privatization of the state property, over 95 million lari of which, or 106% of the annual plan, was transferred to the state budget, the Ministry specified.




GEORGIA’S STATE BUDGET FOR 2021 APPROVED

At the meeting of extraordinary plenary session on December 29, Georgian Parliament approved the country’s state budget for 2021 with 82 votes “pro” (the opposition boycotts work of the Parliament).

While presenting the draft budget, the Finance Minister Ivane Machavariani declared that impact of the COVID-19 pandemic on the country’s fiscal indicators exceeds 7.1 billion lari.




TBILISI BUDGET FOR 2021 APPROVED

On December 25, Tbilisi Sakrebulo (city council) approved budget of Georgian capital for 2021.

Budget revenues are planned at 1.02 billion lari, exceeding plan for 2020 by 19.5%.