
In 2024, the absolute poverty rate in urban areas decreased by 1.6 percentage points, amounting to 7.8 percent, while in rural areas it decreased by 3.7 percentage points, amounting to 11.9 percent.In 2024, the absolute poverty rate decreased compared to the previous year across all age groups of the population. Specifically, the indicator was 12.1 percent in the age group under 18 years (-4.0 percentage points), in the 18-64 age group – 9.3 percent (-2.1 percentage points), and in the age group 65 and older – 6.7 percent (-1.3 percentage points).The absolute poverty rate decreased by 2.4 percentage points for both women and men, amounting to 9.0 percent and 9.8 percent, respectively.In 2024, the share of the population under 60 percent of the median consumption decreased by 0.9 percentage points, amounting to 18.9 percent, while the share of the population under 40 percent of the median consumption decreased by 0.7 percentage points, amounting to 6.7 percent.In 2024, compared to the previous year, the value of the Gini coefficient decreased by 0.02 based on both total incomes and total inflows, amounting to 0.35. However, it remained unchanged based on total consumption expenditures and total expenditures, amounting to 0.36 and 0.40, respectively.
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However, if we look at the trend of profitable banks (11) instead of the consolidated one, the growth is more impressive. The profit for 4 months is GEL 1.05 billion.The net profit of 2 systemic banks (TBC/BOG) increased by 10% year-on-year.
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The total portfolio, as of May 1, exceeds 131 million GEL (L/Y 64.4 million. +104%Y.Y).In addition, lending in GEL is growing over foreign currency. The dollarization coefficient of the loan portfolio is 33.6% (01.05.2024 – 40.6%). Which also reduces the bank's reserve requirement. As you know, the reserve ratio is minimal for a portfolio dollarized less than 40%.The bank's losses have increased annually. Silk ended January-April with a loss of more than 7 million GEL (L:/Y – 2.5 million).
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According to the January-April report, the bank is the leader in deposits of individuals (15.1 billion).The annual growth of the retail deposit portfolio exceeds 50% (01.05.2024 - 9.5 billion. + 52%Y.Y).The systemic bank ended 4 months of 2025 with a profit of 520 million GEL and is number one among (11) profitable banks with a 50% share (01.05.2024 - (13) 50.5%/GEL475.4 billion).
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Gela Geladze's career: 2023 - 2024 - He was the Deputy Minister of Education, Science and Youth of Georgia; 2018 - 2023 - Head of the Mandatory Service of the Educational Institution of the Ministry of Education and Science of Georgia; 2016-2018 - Head of the Central Criminal Police Department of the Ministry of Internal Affairs of Georgia, Division; 2012-2016 - Deputy Head of the National Probation Agency of the Ministry of Corrections and Probation of Georgia; 2010-2012 - Deputy Head of the Mandatory Service of the Educational Institution of the Ministry of Education and Science of Georgia. Former Minister of Internal Affairs and Vice Prime Minister Vakhtang Gomelauri resigned from his position today, May 28, based on his own will.
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The NBG reports that, as of April 2025, the banking sector maintains healthy capital and liquidity indicators. Compared to the previous year, credit activity has gradually normalized, with the annual growth of loans—excluding exchange rate effects—reaching 15.5% in April 2025.“The National Bank remains committed to reducing structural risks associated with high levels of dollarization in the economy. Despite significant progress in decreasing dollarization through measures implemented by the NBG, the associated structural risks continue to pose considerable challenges for the financial sector. In line with its long-term de-dollarization policy, the National Bank, in coordination with industry stakeholders and considering macroeconomic conditions and risks, continues to implement these measures. As part of this policy, the limit on unhedged foreign currency loans has been increased from GEL 500,000 to GEL 750,000,” the NBG stated.The next meeting of the Financial Stability Committee is scheduled for October 1, 2025.
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