Daily News
September 24, 2021
IN THIS ISSUE:
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| 1. |
“TBC CAPITAL” BASELINE SCENARIO: NO SIGNIFICANT FLUCTUATIONS OF LARI ARE EXPECTED IN 2021
Economics
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In its macroeconomic review for September, TBC Capital says that according to baseline scenario, no significant fluctuations of lari are expected in 2021. For 2022, there are expectations of a slight strengthening of Georgian national currency.
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| 2. |
“TBC CAPITAL”: TOURISM WILL NOT BE ABLE TO RETURN TO PRE-PANDEMIC LEVEL IN 2021
Economics
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TBC Capital estimates that tourism in Georgia and those sectors, which are connected with it (HORECA, commercial real estate), will not be able to return to the pre-pandemic level in 2021. As the company noted, the 4th wave of COVID-19 pandemic slowed down the process of industry recovery.
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| 3. |
IN Q2, GEORGIA’S CONSTRUCTION COST INDEX INCREASED BY 16.8 PP Y-O-Y
Economics
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Sakstat reported that in the 2nd quarter, Georgian construction cost index increased by 16.8 percentage points (pp) compared with the same quarter of 2020. The change is caused mainly by increase of construction materials prices by 17.2%, Georgian statistics service said.
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| 4. |
IN 6 MONTHS, BANKS WROTE OFF LOANS OF 187.8M LARI
Economics
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National Bank of Georgia (NBG) reported that in 6 months of this year, banking sector of the country wrote off loans of 187.8 million lari. This volume is by 4% more the showing of entire 2020 (180.6 million lari).
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| 5. |
IN 6 MONTHS, AGRICULTURAL INSURANCE PREMIUM INCREASED BY 27.8% Y-O-Y
Economics
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Georgian State Service for Insurance Supervision reported that in 6 months of this year, Georgian insurers attracted premium of 16.8 million lari in agricultural insurance. If compared with the same period of 2020, the volume has increased by 27.8%.
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| 6. |
AS OF 6 MONTHS, 5 COMPANIES ACCOUNTED FOR 75% OF LAND TRANSPORT INSURANCE PREMIUM
Business
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Georgian State Service for Insurance Supervision reported that in total premium, attracted by Georgian insurers in insurance of land transport (except railway) for 6 months of this year (74.5 million lari), 5 companies accounted for 75%, or 55.6 million lari. Since the same period of 2020, the top five has changed.
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| 7. |
AS OF 6 MONTHS, 5 COMPANIES ACCOUNTED FOR 96% OF LIFE INSURANCE PREMIUM
Business
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Georgian State Service for Insurance Supervision reported that in total premium, attracted by Georgian insurers in life insurance for 6 months of this year (31.3 million lari), 5 companies accounted for 96%, or 30.1 million lari. If compared with the same period of 2020, only holder of the 5th position was changed.
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| 8. |
AMERICAN “CONCENTRIX” ENTERED GEORGIAN MARKET
Business
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State Agency Produce in Georgia declared that with support of its investment direction, American business services company Concentrix has entered the Georgian market. The Agency noted that Concentrix provides services to well-known brands, engaged in telecom, e-commerce, banking and other sectors.
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