Daily News
September 30, 2022
IN THIS ISSUE:
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| 1. |
GEORGIAN GOVERNMENT FORECASTS 5% GDP GROWTH IN 2023
Economics
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At the meeting today, Georgian government considered budgetary and macroeconomic parameters for 2023. At the meeting, Georgia’s Prime Minister Irakli Garibashvili declared that real economic growth is planned to be within 5% next year.
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| 2. |
IN AUGUST, GEORGIA’S ANNUAL REAL GDP GROWTH MADE UP 10.5%
Economics
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Sakstat released estimation, according to which Georgia’s real GDP growth in August, in comparison with the same month of last year, made up 10.5%. The average rate for 8 months of this year made up 10.3%.
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| 3. |
AS OF JUNE 30, GEORGIA’S TOTAL EXTERNAL DEBT MADE UP 104.8% OF GDP
Economics
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As of June 30, Georgia’s total external debt amounted to $22.3 billion, National Bank of Georgia (NBG) reported. This volume corresponds to 104.8% of the country’s GDP for the last 4 quarters.
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| 4. |
IN Q2, GEORGIA’S CURRENT ACCOUNT DEFICIT MADE UP 4.2% OF GDP
Economics
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National Bank of Georgia (NBG) reported that negative balance of the country’s international payments in the 2nd quarter amounted to $252.1 million. The current account deficit decreased by 49% year-on-year, while its ratio to GDP decreased from 10.6% to 4.2%, NBG indicated.
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| 5. |
AS OF JUNE 30, GEORGIA’S NET INTERNATIONAL INVESTMENT POSITION WAS NEGATIVE, MAKING UP 126.2% OF GDP
Economics
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As of June 30, Georgia’s net international investment position made up negative $26.8 billion, reported National Bank of Georgia (NBG). This volume corresponds to 126.2% of GDP for the last 4 quarters.
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| 6. |
NBG: PROFITABILITY OF GEORGIAN BANKING SYSTEM IN 2021-2022 REMAINED SOLID
Economics
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National Bank of Georgia (NBG) indicated that profitability of Georgian banking system in 2021-2022 remained at a solid level. This is due mainly to low rate of credit loss, NBG said.
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| 7. |
ACCORDING TO NBG’S BASELINE FORECAST, SHARE OF IDLE LOANS IS NOT EXPECTED TO GROW
Economics
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National Bank of Georgia (NBG) indicated that along with recovery of the country’s economy, the share of non-performing loans (non-standard, doubtful and irrecoverable loans) is returning to the pre-pandemic level. In June, the share of such loans in total credits approached 5%, NBG reported.
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| 8. |
“WISSOL GROUP” ACQUIRED TBILISI OFFICE BUILDING OF “PUBLIC BROADCASTER”
Business
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It became known today that the office building of Georgian Public Broadcaster, which was brought on electronic auction, was acquired by Wissol Group. The matter concerns a building with an area of 23,649 square m with a land plot, located in Tbilisi (Kostava Ave. 68).
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