The number of visitors to Georgia raised by 101 200, in 2014
The number of visitors to Georgia raised by 101.2 in 2014 comparing with 2013 year. According to PMCG, the highest share (86.2%) came over land from the neighboring countries (Turkey, Armenia, Azerbaijan and Russia).
The number of tourists to Georgia is important for foreign currency flow, also for the tourism’s further development in the country
According to PMCG, the number of visitors to Georgia is 5.5 million, that exceeds the corresponding figure in 2013 by 1.9%. The number of tourists increased in I (7.6%) and in III (2.2%) quarters. While in II and IV quarters the number was reduced by -0.4% and -0.5% respectively.
Based on the 2014 three quarters GDP is increased by 5.9%
Based on the 2014 three quarter the real GDP is increased by 5.9%, comparing to the same period in 2013. According to PMC RC, the largest share of GDP comes to construction (1.2 percentage points), industry (1.1 percentage points) and trade (1.1 percentage point).
State budget revenue will be fully accomplished in 2014
According to PMCG analysis, the revenue part of the State budget will be fully accomplished, while expenditure nearly by 98%. In addition, tax revenue is expected to exceed. The analysis is based on the indicators of eleven months of 2014, the information of the State treasury and analysis of the previous years’ budget implementation.
Eka Ghvinjilia about the exchange rate changes at Radio Tavisupleba
Eka Ghvinjilia, Project Manager at PMC RC discussed about the recent changes in exchange rate. According to the organization, sharp deterioration in the exchange rate was caused by speculative behavior of market players and panic conversions by businesses.
PMCG listed reasons of sharp deterioration of the exchange rate
Georgia has floating exchange rate policy that includes a free regime to other currencies and is formed according to world demand and supply market. In this case, the National Bank does not affect the determination of the exchange rate.
GEL’s depreciation was caused by market’s speculative behavior and panic conversions
During the peak period 1 US dollar was sold for about 2.05 Georgian Lari, that despite of the fundamental reasons affecting exchange rate (deterioration of the trade balance, reduction off the money transfers and tourists’ flow) is abnormally high rate.
PMCG: Panic conversions by population and businesses caused GEL’s sharp depreciation
PMCG issued special publication, coming out the recent devaluation of Georgian Lari: official exchange rate of 1 US dollar is 1.93 GEL on December 10, 2014. During the last three weeks dollar has depreciated against GEL by 0.18 units.