BAKU, Azerbaijan, Jan.2
By Tamilla Mammadova – Trend:
Annual inflation in November 2020 amounted to 3.8 percent, and prices increased by 0.9 percent compared to October 2020, Trend reports via the National Bank of Georgia.
According to the NBG, the cheese price was most affected by 0.2 percent in November compared to October. A rise in the price of tomatoes, gasoline, and oil was significant too.
As reported, annual inflation was 3 percent for imported goods and 4.2 percent for locally produced goods in November 2020. Mixed goods rose in price by 4.1 percent. The relatively low inflation rate of imported goods is related to the annual decrease in fuel prices.
The net international investment position (IIP) of Georgia amounted to -$23.9 billion (-78.6 billion lari) as of September 30, 2020, accounting for -146.3 percent of the last 4 months GDP.
Net IIP deteriorated by $209.7 million compared to the previous quarter.
International assets amounted to $11 billion (36.3 billion lari) by September 30, 2020, up by $353.5 million quarterly.
Liabilities increased by $563.2 million during the quarter totaling $34.9 billion (114.8 billion lari).
As of December 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.
In November 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 1.99 billion lari ($610.4 million), (or by 3.69 percent) and constituted 55.9 billion lari/$17.1 billion (exchange rate effect excluded above-mentioned indicator increased by 2.26 percent).
The banking sector's equity capital equals 5.74 billion lari ($1.7 billion), which makes up 10.27 percent of the commercial banks total assets.
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