Tracking the Recovery

8 Jan, 2021
  • New mortgage issuances down 15.1% YoY in December, despite active utilization of the state subsidy program. Only in December subsidized mortgages made up 58% of total mortgage disbursements. Since the beginning of July around 40% of total mortgages issued were under the subsidy scheme
  • Temporary lift of mobility restrictions were positively reflected on spending in the range of sectors. Growth picked up in spending on apparel, household goods, electronics, construction materials, car repair services
  • Spending on entertainment, hotels and fitness remain deeply in red
  • Weekend occupancies of hotels, particularly in Kakheti and Tbilisi, somewhat improved, reflecting the New Year holidays
  • Growth of remittances inflows through TBC channels improved, posting 11.4% YoY for the week ending 31th of December
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