BAKU, Azerbaijan, Jan. 7
By Tamilla Mammadova – Trend:
GDP in Georgia grew by 6.4 percent year-on-year in November 2019, Trend reports via TBC Bank of Georgia.
As reported, turnover of the value-added tax (VAT) payers, a measure used in the estimations, reached 7.5 billion lari ($2.6 billion), an increase of 19.6 percent year-on-year in November.
Manufacturing, transport and storage, construction, and trade sectors increased the most.
In December 2019, the inflation reached 7 percent year-on-year, unchanged from the previous month.
Food and non-alcoholic beverages prices grew by 12.3 percent since December 2018 contributing to the annual inflation with 3.78 percentage point, and alcoholic beverages and tobacco gained 15.6 percent year-on-year, adding another 1.03 percentage point to the annual Consumer Price Index (CPI).
Prices also went up for almost all other categories, except clothing and footwear (-0.1 percent) and communication services (-0.1 percent).
Interest rates on money and government securities stabilized in December 2019.
The yield on 5-year bond went down to 9.42 percent (-0.04 percentage point month-on-month), for 2-year bond it reached 9.37 percent (+0.09 percentage point month-on-month), and for 1-year bond the yield stood at 9.17 percent (+0.10 percentage point month-on-month), while 1-day Georgia's Tbilisi Interbank Credit (TIBR) rate was up to 8.86 percent (+0.27 percentage point month-on-month).
Interest rates picked up sharply since August 2019 in response to the higher monetary policy rate.
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