Economic Press Monitor
May 5, 2015
IN THIS ISSUE:
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| 1. |
GENERAL CENSUS SHOOK ECONOMY
Macroeconomics & Budget
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According to preliminary results of the latest general census, Georgian population is 3.73 million people (by 14.7% less than in 2002). If this estimation does not change, it means that GDP per capita will increase from $3,680 to $4,416, the newspaper specified.
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| 2. |
NATIONAL BANK HAS TO REDUCE REQUIREMENT ON MINIMAL OBLIGATORY RESERVES FOR FUNDS BORROWED IN FOREIGN CURRENCY
Finances & Banking
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According to executive director of Analysis and Forecasting Center at Tbilisi State University Irakli Dogonadze, National Bank of Georgia (NBG) has to reduce requirement, established on minimal obligatory reserves for funds, borrowed by commercial banks in foreign currency, from 15% to 5%. It will significantly raise supply of dollars to economy via credit channels and will positively affect exchange rate of national currency, Dogonadze considers.
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| 3. |
GROWTH RATE OF TOURISTS’ NUMBER DECREASED IN APRIL 20 TIMES
Tourism
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Interior Ministry reported that 394,000 foreign visitors visited Georgia in April. In that month, growth rate of tourist stream made up 0.4%, which is 19.5 times lower, compared with the rate of the same period of last year (7.8%), the magazine specifies.
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