Daily News July 31, 2020	Days:  29 30 31 03 04

politics

THE GOVERNMENT: STUDY OF COVID-19 MANAGEMENT AND PANDEMIC IMPACT IS STARTED WITH ASSISTANCE OF INTERNATIONAL PARTNERS

Administration of Georgia government declared about large-scale study of COVID-19 management and pandemic impact, started with assistance of international partners. As the administration noted, the study will be conducted jointly by 8 the UN agencies and USAID.

economics

IN 6 MONTHS, GEORGIAN GDP DECREASED BY 5.8%

Sakstat released estimation, according to which Georgia’s real GDP decreased in June by 7.7% in comparison with the same month of 2019.

Rate of decrease for the 2^nd quarter made up 12.6%, while for the first half of the year – 5.8%.




IN JUNE, INTEREST RATE ON CREDITS, ISSUED IN LARI, INCREASED BY 2 PP Y-O-Y, WHILE ON ONES, ISSUED IN FOREIGN CURRENCY – DECREASED BY 0.2 PP

National Bank of Georgia reported that in June, average rate of interest on Georgian money market made up 12.2%. The rate has increased by 0.1 percentage points (pp) quarter-on-quarter and by 0.5 pp year-on-year.




IN JUNE, YIELD RATE ON DEPOSITS, PLACED IN LARI, INCREASED BY 2.6 PP Y-O-Y, WHILE ON ONES, PLACED IN FOREIGN CURRENCY – DECREASED BY 0.3 PP

National Bank of Georgia reported that in June, average rate of accrued interest on deposits, placed in Georgian banks, made up 7.2%. The rate has decreased by 0.7 percentage points (pp) quarter-on-quarter, but increased by 2 pp year-on-year.




IN TOTAL DEPOSITS, PLACED IN FOREIGN CURRENCY, USD ACCOUNTS FOR 83.7%

National Bank of Georgia reported that in total deposits, placed in Georgian banks in foreign currency as of June 30 (equivalent of 18.4 billion lari), share of the US dollar made up 83.7%, or equivalent of 15.4 billion lari.

Volume of deposits, placed in the US dollar, has decreased by 7.3% quarter-on-quarter, but increased by 14.2% year-on-year.




IN 2019, INCOME OF MARKETS INCREASED BY 4.4%

Sakstat reported that income of Georgian markets totaled in 2019 to 166.5 million lari. If compared with 2018, the volume has increased by 4.4%.




GEORGIA HOSTED REGIONAL EVENT OF “STARTUP WORLD CUP”

Georgian Ministry of Economy and Sustainable Development reported that the country hosted for the first time regional event of “Startup World Cup”, “Black Sea & Beyond Regional Competition”. The event was held on July 30 in Tbilisi technology park (Okrokana).

business

“HUB GEORGIA”: EFFECTIVENESS RATIO OF “GEORGIAN RAILWAY” DROPPED 2.6 TIMES

Referring to conducted research, non-governmental organization HUB Georgia declared that effectiveness ratio of state-owned Georgian Railway (ratio of transported freights to consolidated operating expenses) has reduced 2.6 times in recent years.

“That indicates inefficient use of assets, which are in hands of the state”, author of the research Paata Tsagareishvili said.




ECONOMY MINISTRY: MOLECULAR DIAGNOSTIC LAB BECAME BENEFICIARY OF “PRODUCE IN GEORGIA” PROGRAM

Georgian Ministry of Economy and Sustainable Development announced that molecular diagnostic laboratory Primelab became beneficiary of “Produce in Georgia” state program.

The laboratory will benefit from the program’s component of co-financing of credit interest, as well as from credit-and-guarantee scheme, the Ministry said.