According to the document, in August 2024, the volume of money transfers from abroad constituted 290.6 million USD (784.4 million GEL), which is 0.3% (0.9 million USD) more than the amount in August 2023.As of the report, 96.2% percent of the total money transfers from abroad came from 24 largest partner countries, with the volume of transfers from these countries each exceeding 1 million USD in August 2024. In August 2023 the share of these 24 countries constituted 96.1% percent of the total volume of money transfers.In August 2024, 33.1 million USD (or 89.4 million GEL) was transferred from Georgia, which is 12.1% more as compared to 29.5 million USD in August 2023. 

1726494221

Shamugia cited Prime Minister Irakli Kobakhidze’s decision to raise the price set for collecting  the Saperavi variety from growers as evidence the Government was committed to supporting viticulture and winemaking.We began this process in 2013. We are helping both vine growers and winemakers to advance the sector. We are very actively involved in the grape harvesting process every year. We subsidise various grape varieties where we see the necessity. We also help wine producers re-equip their factories, open new ones, and set up [storage] cellars”, the Minister told Imedi TV.He noted over 3,000 small, medium, and large enterprises in the country produced wine, with 500 of them also exporting to countries around the world.Exports are also increasing, which is also important. Last year, we had record figures for exports to the tune of $260 million, and this year, in the first eight months, wine exports are $200 million already. Overall, for the first time, we expect to generate USD 0.5 billion in revenue this year from wine and spirits export”, the Minister pointed out.He also highlighted the importance of advertising campaigns aimed at promoting Georgian wine on international markets, with over GEL 100 million spent, and added the Ministry’s involvement would increase in the coming years.Shamugia’s comments came in the wake of the National Wine Agency saying Kakheti was experiencing a “record grape harvest”, with 78,000 tonnes processed as of Thursday last week.The Prime Minister also announced on Saturday that a state company would accept Saperavi variety for ₾1.5 per kilogram at up to 10 locations, while the Government would also cover the difference for those who had sold the type for less than GEL1.5 so far.Otar Shamugia, the Georgian Minister of Agriculture and Environmental Protection, on Saturday said the income of winegrowers involved in the ongoing harvest in the eastern region of Kakheti was expected to reach GEKL350 million  this year.Shamugia cited Prime Minister Irakli Kobakhidze’s decision to raise the price set for collecting  the Saperavi variety from growers as evidence the Government was committed to supporting viticulture and winemaking.We began this process in 2013. We are helping both vine growers and winemakers to advance the sector. We are very actively involved in the grape harvesting process every year. We subsidise various grape varieties where we see the necessity. We also help wine producers re-equip their factories, open new ones, and set up [storage] cellars”, the Minister told Imedi TV.He noted over 3,000 small, medium, and large enterprises in the country produced wine, with 500 of them also exporting to countries around the world.Exports are also increasing, which is also important. Last year, we had record figures for exports to the tune of $260 million, and this year, in the first eight months, wine exports are $200 million already. Overall, for the first time, we expect to generate $0.5 billion in revenue this year from wine and spirits export”, the Minister pointed out.He also highlighted the importance of advertising campaigns aimed at promoting Georgian wine on international markets, with over GEL 100 million spent, and added the Ministry’s involvement would increase in the coming years.Shamugia’s comments came in the wake of the National Wine Agency saying Kakheti was experiencing a “record grape harvest”, with 78,000 tonnes processed as of Thursday last week.The Prime Minister also announced on Saturday that a state company would accept Saperavi variety for ₾1.5 per kilogram at up to 10 locations, while the Government would also cover the difference for those who had sold the type for less than GEL1.5 so far. 

1726493958

As of the document, in August 2024, the number of transactions of newly-built flats in Batumi has increased by 10% year over year, while a 7% YoY decrease rate has been observed in the case of old flats.As of August 2024, the number of transactions of residential flats in Batumi has increased by 9% to 1,169 units. The market size has increased by 16% standing at USD 62 millions.

1726493724

According to the document, in August 2024 the number of transactions in new projects in Tbilisi increased by 0.4%. While the figure for old flats features a 17% decrease compared to August 2023.As of August 2024 in Tbilisi the weighted average price of old flats has increased by 10% in the suburbs and by 9% in the city centre, while in the wide centre 2% decline was witnessed.As of August 2024 the weighted average price of newly-built flats in Tbilisi has increased by 8% in the suburbs. The figure has increased by 7% in the city centre and by 4% in the wide centre.

1726493507

Bank of Georgia Group (BGEO LN) shares closed at GBP 40.85/share (+0.74% w/w and +2.00% m/m). More than 175k shares traded in the range of GBP 40.05 - 42.00/share. Average daily traded volume was 48k in the last 4 weeks. The volume of BGEO shares traded was at 0.38% of its capitalization.Bank of Georgia Group (BGEO LN) shares closed at GBP 40.85/share (+0.74% w/w and +2.00% m/m). More than 175k shares traded in the range of GBP 40.05 - 42.00/share. Average daily traded volume was 48k in the last 4 weeks. The volume of BGEO shares traded was at 0.38% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 10.10/share (+4.45% w/w and +6.09% m/m). More than 490k shares traded in the range of GBP 9.61 - 10.20/share. Average daily traded volume was 118k in the last 4 weeks. The volume of CGEO shares traded was at 1.15% of its capitalization.

1726493195

According to the economic activity the highest monthly earnings were observed in the following fields: Information and communication – 3 963 GEL (increased by 4.3 percent compared to the corresponding period of the previous year) Financial and insurance activities – 3 642.3 GEL (increased by 14.5 percent) Construction – 2 946.1 GEL (increased by 13.7 percent) Professional, scientific and technical activities – 2 872.8 Gel (increased by 13.8 percent) In the II quarter of 2024, the average earnings equaled to 1 590.2 GEL for women, while 2 413.5 GEL for men. The annual growth of earnings amounted to 153.1 Gel (10.7%) for women and 251.8 GEL (11.7%) for men. In all sectors of the economy, the average monthly earnings of men were higher than women’s.In the II quarter of 2024, the average monthly earnings of hired employees in the business sector increased by 190.7 GEL (10.0%) and equaled 2 105 GEL. According to the economic activity the highest monthly earnings were observed in Information and communication (4 069.3 GEL, increased by 4.1 percent compared to the corresponding period of the previous year) and Professional, scientific and technical activities (3 289.2GEL, increased by 13.6 percent).Tbilisi and Mtskheta-Mtianeti regions are leading regions by amount of the average earnings. The chart below presents the distribution of the average monthly nominal earnings of employees by regions in the II quarter of 2024.

1726492958