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Tag Archives: NBG

Government should Leave Fiscal Space for Major Infrastructural Projects

“Government strategy for the state budget calls for cutting the accrued expenses to leave fiscal space for major infrastructural projects”,  Francois Painchaud, IMF Resident Representative in Georgia, told the BM.GE. Salaries constitute one of the key components of the accrued expenses. “In 2017 the Government managed to cut expenses. Government …

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NBG Predicts 4.5% Economic Growth in 2018

The National Bank Of Georgia Continues Sharing Its Experience On Prudential Supervision

According to the National Bank forecasts, growth in GDP in the year of 2018 will be 4.5%. According to the forecast, GDP growth will have positive contribution as net exports, as well as consumption and investments, which will result in external inflows, improvement of business climate and capital expenditure of …

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Koba Gvenetadze Announces 2018 As A Year Of Financial Education

The governor of the National Bank of Georgia, Koba Gvenetadze has announced 2018 to be “a year of financial education” and discussed plans that will be implemented together with financially literate society, who will no longer be afraid of exchange rate volatility. The governor also reviewed the major challenges of …

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Challenges Faced by the Real Estate Sector in 2017

property Georgia

De-dollarization has been one of the main challenges for the Georgian real estate market in 2017. Following the devaluation of the Lari in 2016, the government of Georgia and the National Bank of Georgia (NBG) jointly designed a plan of ‘Larization’ of loans. The relevant legislation came into force on …

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2018 – Year of Financial Education

lari

In 2018 Government of Georgia expects that the reforms will justify, while business sector and consumers expect their revenues to grow. At the same time, all social groups want that an inflow of investments rise in the country. The banking sector represents a cornerstone for everybody, because both corporate and …

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Assets of Commercial Banks Grow

NBG

As of December 1, 2017 the Georgian banking sector registers 16 commercial banks, including 15 ones with foreign capital in the authorized capital. According to the National Bank of Georgia (NBG), in November total assets of commercial banks of Georgia rose by 1.1 billion GEL (+3.2%) compared to October and …

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NBG: Deposits’ Larization Shrinks

According to the National Bank, nonbank deposits volume in the banking sector hit 19bln GEL as of November 1, 2017, up 645.2mln GEL (+3.5%) as compared to the October 1 indicator (up 0.6% without the exchange rate effect). In October, as compared to the previous month, term deposits grew by …

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