Eurasia / Data

World Bank forecasts Georgian economy to grow by 5.5% in 2022, 5% in 2023

bne IntelliNews January 13, 2022

The Georgian economy is projected to grow 5.5% in 2022 and 5% in 2023, the January edition of the World Bank’s report Global Economic Prospects 2022 says.

Inflation in Georgia peaks at 13.9% y/y in December

Iulian Ernst in Bucharest January 4, 2022

Core inflation, however, eased to 5.9% y/y from 6.1% y/y in November.

Georgian FDI remains subdued

Iulian Ernst in Bucharest December 13, 2021

A large part of the FDI was actually retained earnings generated by the two major banks, TBC and Bank of Georgia.

Unemployment in Georgia up 2.5pp y/y to 19.5% in Q3

Iulian Ernst in Bucharest December 9, 2021

In the fourth quarter, the base effects will dissipate and the annual figures may decrease.

Georgia’s manufacturing output up real 11.5% y/y in Q3

Iulian Ernst in Bucharest December 7, 2021

Compared to the third quarter of 2019, the production value in the manufacturing sector expanded by an annualised real rate of 2.9% per annum.

Georgia’s inflation remains above 12% y/y in November

Iulian Ernst in Bucharest December 7, 2021

The biggest part of the 12.5% y/y annual inflation (5.35pp) was caused by the 17% y/y increase in food prices.

Kazakh manufacturing PMI shows return to contraction in November

Kanat Shaku in Almaty December 2, 2021

Strain felt from headwinds including material shortages, lack of labour and price pressures.

Georgia’s annual GDP growth stable at 6.9% in October

Iulian Ernst in Bucharest December 2, 2021

For the first 10 months of the year, Geostat estimates an average growth rate of 10.5%.

Georgian banks’ loan portfolios grow by 15% y/y at end October

Iulian Ernst in Bucharest November 29, 2021

Compared to October 2019, before the crisis, the volume of assets and loans surged by 29% and 36% respectively.

Georgian banks’ profits 38% larger than before crisis

Iulian Ernst in Bucharest November 25, 2021

Release of part of provisions made last year contribute to the robust profits in 2021.

Money transfers to Georgian households surge by 26% in first 10 months

Iulian Ernst in Bucharest November 17, 2021

Wage remittances sent by Georgians living and working abroad have significantly contributed to the resilient domestic demand.

Georgia’s exports hit new record in October after 32% y/y growth

Iulian Ernst in Bucharest November 16, 2021

In January-October, the country’s exports rose by 24.9% y/y to $3.39bn and by 11% compared to the same period of 2019.

Kazakhstan's annual inflation remains at 8.9% y/y in October

Kanat Shaku in Almaty November 4, 2021

Food inflation very slightly edges down to 11.3%.

Georgia’s inflation picks up to 12.8% y/y, driven by food prices

Iulian Ernst in Bucharest November 4, 2021

According to the central bank, the high inflation was mainly a result of one-off factors, such as significant increases in prices of food and oil on international markets.

Kazakh manufacturing PMI shows continued improvement in operating conditions in October

Kanat Shaku in Almaty November 2, 2021

Index gains to 51.6 from 50.3 in September. Stocks of finished goods built at the fastest pace on record.

Georgia’s GDP in first nine months expands 11.3% y/y and 6.3% versus 2019

Iulian Ernst in Bucharest November 1, 2021

Growth turned positive for the second consecutive month versus non-pandemic year 2019.

Bank lending in Georgia up 12.9% y/y at end-September

bne IntelliNews October 26, 2021

In real terms, deflated by the consumer price inflation, the volume of bank loans edged up by a modest 0.6% y/y at the end of September.

Kazakh industrial output up 2.7% in first nine months

Kanat Shaku in Almaty October 22, 2021

Oil output fell 3.4% y/y but ore mining grew 15%.