Compared to the 2020 average, the index change amounted to 48.1%. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.In the second quarter of 2024 a price increase compared to the previous quarter was registered both in flats (4.8%) and detached houses (4.6%) segments. Compared to the second quarter of 2023, the prices increased in both segments, for flats by 14.4% and for detached houses by 16.8%.

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The prices for products from mining and quarrying increased by 1.3 percent compared to May 2024, resulting in a 0.09 percentage point contribution to the overall monthly PPI change. In the same period the prices for manufactured products increased by 1.9 percent, contributing 1.54 percentage points to the monthly index change. Within the group a noteworthy price increase was registered for food products (1.9 percent) and for basic metals (3.6 percent). Besides, the prices increased for electricity, gas, steam and air conditioning by 4.9 percent, contributing 0.5 percentage points to the monthly index change.The annual PPI rate was mainly affected by price changes for the following products:• Products from mining and quarrying: the prices were 22.1 percent higher, contributing 1.3 percentage points to the overall annual index change. Within the group the prices were higher for the subgroup of metal ores (24.4 percent);• Manufactured products: the prices increased by 8.2 percent, contributing 6.68 percentage points to the overall annual index increase. There was a notable increase in the prices for the following subgroups: food products (11.8 percent) and beverages (9.1 percent);• Electricity, gas, steam and air conditioning: the annual price increase amounted to 10.9 percent, which contributed 1.07 percentage points to the annual index change;• Water supply, sewerage, waste management and remediation services: the annual price increase amounted to 10.1 percent, which contributed 0.24 percentage points to the annual index growth.

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According to the document, in January-June 2024 the share of the top ten trading partners by domestic exports in the total domestic exports of Georgia amounted to 72.8 percent. The top partners were Russia (USD 271.2 million), Türkiye (USD 217.2 million) and China (USD 129.6 million).In January-June 2024 wine of fresh grapes reclaimed the first place in the list of top export items, equaling USD 156.1 million, or 12.1% of total exports. The exports of ferro-alloys totaled USD 142.9 million and their share in the total exports amounted to 11.1%. The exports of precious metal ores and concentrates, occupied the third place, standing at USD 101.6 million and constituting 7.9% of the total exports.

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According to the Ministry of Finance, as of June 2023, the amount of state foreign debt was USD 8,510,518 thousand.As of June 2024, the external debt of the government was determined at USD 8,327,071 thousand, and in national currency amounts to GEL 23,399,902 thousand.According to June data, the debt to multilateral creditors is USD 6,314,285 thousand or GEL 17,743,771 thousand.The largest creditors of the state of Georgia are: Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), European Investment Bank (EIB), International Bank for Reconstruction and Development (IBRD).

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According to Kaladze: "Due to the high interest of the public, the City Service of Environmental Protection of Tbilisi City Hall was assigned to study the area in order to improve the ecological condition of the Gldani (white) Lake." The mentioned lake was neglected for years, it became a problem to fill it with water, due to which it started to dry up, which is a problem for the residents of Gldani. Many letters have been received in this regard. Therefore, the City Environmental Protection Service was assigned to study the causes of the problem. Based on the results of the research, it was planned to increase the volume of the lake to the required level for filling/rehabilitation. Due to the fact that it is impossible to replenish the water naturally, its volume will be increased through the Bodorna-Ghrmaghele water tunnel which is on the balance of LLC "Georgian Water and Power".As of the mayor of the capital, based on the conducted research, a project was worked out, which was agreed with the company "Georgian Water and Power", according to which the city environmental protection service started specific measures to solve the ecological problem of the lake."In particular, at this stage, according to the agreed project, the service has already started arranging the filling system, which should be connected to the above-mentioned water tunnel. This work will be completed at the end of August of this year", Kakha Kaladze said.As for the long-term perspective, according to the Mayor, filling of the lake will be carried out by an alternative method."Gldani White Lake will be filled with atmospheric natural waters formed on the surrounding slopes, which will be discharged into the lake through the outlet of the drainage collector. What is most important, with the help of the above-mentioned measures, we will preserve and save the Gldani white Lake", said the mayor of the capital.

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 TOP-5 Main Exporters of Wine to Russia: Lithuania - 211.4 million USD; Italy - 171.5 million USD; Georgia - 168.3 million USD; Latvia - 153.8 million USD; Poland - 41.9 million USD TOP-5 Major Wine Exporters By Smallest share Of Wine Exports  to Russia: Bulgaria - 1.6 million USD; Turkey - 0.7 million USD; Czech Republic - 0.6 million USD; China - 0.6 million USD; Greece - 0.5 million USD.4  Georgia’s National Wine Agency has announced export figures for the first half of 2024, showcasing robust growth in wine and alcoholic beverage exports to global markets.During this period, Georgia exported 54.5 million litres of wine valued at USD 156.7 million to 61 countries worldwide. Compared to the same period last year, this marks a substantial increase of 26% in volume and 24% in revenue.Export growth is notable in the following countries: Poland – 19% (3.1 million litres), USA – 53% (654 thousand litres), Germany – 34% (674 thousand litres), Great Britain – 28% (182.5 thousand litres), Canada – 110% (121.3 thousand litres), Turkey – 47% (239.2 thousand litres).In addition to wine, Georgia exported 23.4 million litres of alcoholic beverages to 45 countries during the same period, marking a 55% increase compared to last year. Revenue from alcoholic beverage exports amounted to USD 132.8 million, reflecting a 59% increase.

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The National Bank recalls what the Minister of Finance and Trade-Industry of the Democratic Republic of Georgia said in the last century, one year before the 30th anniversary of the national currency.On July 11, 1919, the first national currency #Georgian boni was put into circulation, which was one of the most important attributes of the sovereign state.Sketches were developed by artists - Joseph Charlemagne, Henrikh Hrinevski and Dimitri Shevardnadze. The coat of arms of the Democratic Republic of Georgia and the initials "SDR" are depicted on the money.Georgian bonds circulated in 1919-1921 and were a means of temporary payment. From 1921 to 2023, the Georgian manet of the Soviet Socialist Republic was in circulation.In 1923, when Georgia became part of the Transcaucasian Socialist Federated Soviet Republic, the Georgian manat was replaced by the 2nd South Caucasian ruble, and from 1937* by the unified currency of the USSR.As you remember (don't anyone who remembers), Georgia came out of the Soviet money zone in 1993 (April 5) and introduced a coupon, as well as a temporary payment method. Lari appeared on October 2, 1995, during the tenure of Davit Iakobidze as the Minister of Finance.Since its birth, since the lari has been in circulation of a sovereign country, the country is preparing for European integration, and the lari is going to give up its positions only for Euro.

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Bank of Georgia Group (BGEO LN) shares closed at GBP 43.90/share (+5.28% w/w and +17.85% m/m). More than 660k shares traded in the range of GBP 41.50 - 44.10/share. Average daily traded volume was 133k in the last 4 weeks. The volume of BGEO shares traded was at 1.45% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 29.45/share (+6.90% w/w and +15.49% m/m). More than 392k shares changed hands in the range of GBP 27.40 - 29.80/share. Average daily traded volume was 122k in the last 4 weeks. The volume of TBCG shares traded was at 0.71% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 10.90/share (+3.81% w/w and +29.76% m/m). More than 743k shares traded in the range of GBP 10.28 - 10.94/share. Average daily traded volume was 103k in the last 4 weeks. The volume of CGEO shares traded was at 1.74% of its capitalization.

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The value of export decreased by 6.7 percent reaching USD 2 848.3 million, while the import increased by 0.2 percent and amounted to USD 7 471.8 million.The trade deficit equaled USD 4 623.5 million and its share in trade turnover constituted 44.8 percent.

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It should be noted here that the railway/ferry traffic between the ports of Georgia and Bulgaria, through the Black Sea, plays an important role in the logistics of cargo transportation. Through it, Georgia and Bulgaria will continuously carry out international cargo transportation through specially equipped railway ferries. This traffic, on the one hand, ensures the inflow of additional cargo flows, and on the other hand, it is vital in terms of increasing the efficiency of the Middle Corridor route.At the end of the meeting, the parties expressed hope that the regular traffic of ferry ships will ensure the growing demand for shipments in the mentioned direction in the near future.

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