Weekly Bulletin

2 Nov, 2020
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  • According to preliminary estimates, GDP growth improved substantially and declined only by 0.7% YoY in September 2020, following 5.5% YoY and 5.3% YoY drops in July and August, respectively.
  • Bank loans increased by 12.0%[1] YoY to GEL 36.4bn by the end of September.
  • Bank deposits increased by 20.2%* YoY to GEL 32.8bn as of September 2020.
  • The NBG kept refinance rate unchanged at 8.0% on the Monetary Policy Committee meeting held on October 28th.
  • NBG sold USD 40 m on October 27 and another USD 40 m on October 29, continuing interventions in the FX market.
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