BAKU, Azerbaijan, Dec. 20
By Maryana Akhmedova – Trend:
Georgia’s dynamics of trade turnover in goods and remittances inflow in November, as in previous months, showed a strong growth rate, Trend reports, citing weekly review from TBC Capital.
Georgia’s tourism revenues in November 2021 continued to recover at a slow pace, compared to the same period of 2019, and amounted to 55 percent, the report said.
However, compared to the total inflow, net inflow decreased in November 2021 due to an increase in imports, while investments in national currency (Georgian lari) increased over the same period, TBC Capital said.
Meanwhile, TBC Capital believes that the depreciation of the Turkish lira will not necessarily affect the Georgian lari, due to the fact that the depreciation of the Turkish lira has historically been characterized as a kind of shock, typical only for Turkey.
According to the National Statistics Office (Geostat), an average monthly salary has increased significantly, but given the double-digit inflation, there has been a decrease in real terms, TBC Capital noted.
“However, per capita expenditure on output increased over the same period, although the increase was below the 3 percent inflation target, which is in line with the TBC Capital’s forecast for inflation normalization,” the report concluded.
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