The FINANCIAL -- Following an initiative of TBC Bank, a presentation of its macroeconomic review was held at Holiday Inn. The presentation was led by TBC Bank's Chief Economist Otar Nadaraia, who spoke about the impacts of the dynamics and forecasts of major economic indicators on the macroeconomics of the country.
The presentation also discussed the expectations of TBC Bank's Economists Group for the year 2019 and their evaluation of 2018.
TBC Bank's Economists Group presented their clients' relative risk assessment, economic growth, Lari exchange rate forecasts and crediting trends. Economists of TBC Bank believe that in the case of a 15% increase in lending, GDP will grow by 5.4%, and in the case of a 12% increase in the lending rate, the economy will grow by 4.7%.
“We think that due to the new regulatory framework, the lending rate will be reduced by a certain margin, but at the same time, unlike the 2018 fiscal stimulus, will be very strong and it will balance the relatively lower lending rate.” – said Otar Nadaraia, Chief Ecomomist of TBC Bank.
According to TBC Bank's review, the Georgian economy and its economic partners are more dependent on the Euro than the US Dollar.
“Today we have invited TBC Bank's corporate business customers, as well as personal customers, and we want to hold such meetings twice a year, where we will share our vision and our predictions on the macroeconomic situation.” – Vakhtang Butskhrikidze, CEO of TBC Bank, said.
According to TBC Bank's review, significant foreign inflows to Georgia will be moderate in 2019. According to international forecasts, the second half of this year will be more economically efficient. It is noteworthy that the reduction in lending is expected, but the solid fiscal costs will be a significant balancing factor.
The TBC Bank's Macroeconomic Review was attended by TBC Bank's customers who were able to receive additional information in the Q/A section, which will help them in planning their further activities.