World Bank Group2016-01-072016-01-072015-11https://hdl.handle.net/10986/23598This report is the second edition in series of economic updates designed to monitor and assess recent developments in Georgia. It presents a concise overview of macroeconomic, political and structural indicators during the first half of 2015 and situates them in the context of Georgia’s evolving external environment.en-USCC BY 3.0 IGODEBT SOURCECURRENCY MISMATCHESTARIFFSCONTINGENT LIABILITIESMONETARY POLICYDEFICITWITHDRAWALNATIONAL SAVINGNPLPROFIT MARGINSDEPOSITSSTOCKVALUATIONDOMESTIC BORROWINGDEBTORSFOREIGN EXCHANGE MARKETINTERESTMACROECONOMIC MANAGEMENTTRADE CREDITSDEBT STOCKINFLATIONARY EXPECTATIONSINTEREST RATEEXCHANGEECONOMIC DEVELOPMENTSMACROECONOMIC POLICYDEBT MANAGEMENTLIQUIDITYTAX COLLECTIONNATIONAL SAVINGSTOTAL DEBTREVENUESPORTFOLIOFISCAL POLICYLOANTAXRESERVEMARKET ACCESSINFLATIONPENSIONINSTRUMENTSBUDGETCENTRAL BANKMATURITYMACROECONOMIC STABILITYLABOR MARKETTRADE BALANCEOIL PRICESCURRENCYTELECOMMUNICATIONSCONSOLIDATION PROCESSCOMMERCIAL BANKDEBTSCAPITAL FORMATIONTRADINGINTEREST RATESMONETARY FUNDFLEXIBLE EXCHANGE RATEFINANCIAL INSTITUTIONSDEBTMARKETSPRIVATE INVESTMENTRETURNDEFICITSINFLATION RATEDOMESTIC DEBTDIRECT INVESTMENTLOANSRESERVESINVENTORIESPORTFOLIO INVESTMENTSDEBT SERVICEGROSS DOMESTIC PRODUCTFINANCIAL HEALTHFINANCEFIXED INTEREST RATESFOREIGN CURRENCYPUBLIC INVESTMENTINTERNATIONAL FINANCIAL INSTITUTIONSTAXESBANKING SECTORFLOATING EXCHANGE RATEFISCAL DEFICITEXPENDITURETRANSACTIONREPAYMENT RISKSINVESTORSFOREIGN EXCHANGE RESERVESINTEREST PAYMENTSDEBT-SERVICEFIXED INTERESTMARKET CONDITIONSPENSIONSFOREIGN DIRECT INVESTMENTFIXED CAPITALTREASURY BILLSSHORT-TERM DEBTBUDGETSFOREIGN INVESTMENTSAFETY NETPRICE RISKPRICE STABILITYREPAYMENTEXPENDITURESISSUANCECURRENT ACCOUNT DEFICITTAX RATEST-BILLCOUPON RATEMARKETT-BILLSFOREIGN EXCHANGELOCAL CURRENCYSECURITIESPUBLIC DEBTBALANCE OF PAYMENTTREASURYINFLATION RATESCURRENCIESTRADE SECTORSINTERESTSCURRENCY DEPRECIATIONCORPORATE DEBTGOODSSECURITYNONPERFORMING LOANNATIONAL BANKINVESTMENTEUROBONDCOMMERCIAL BANKSSHAREPOVERTYFINANCIAL RISKSPRIVATE INVESTORSCOUPONREVENUEEXTERNAL DEBTPROFITINVESTMENTSCONSUMER PRICE INDEXLENDINGINTEREST RATE RISKPUBLIC SECTOR DEBTCREDIT GROWTHLIQUIDITY RATIOMATURITIESEXCHANGE RATEPUBLIC DEBT STOCKREMITTANCESPUBLIC SPENDINGLIABILITIESCAPITAL ACCOUNTDEVELOPMENT BANKNONPERFORMING LOANSEXTERNAL BORROWINGReportWorld Bank10.1596/23598