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Reduced Funding for Legal Entities

Published: August 27, 2013 | 12:14 pm
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Why has the banking sector reduced its funding of legal entities? According to the National Bank’s official data, 75.7% of the funds provided by the banks to legal entities fall into the manufacturing, construction and trade sectors. As for the total volume of funding of legal entities, it decreased by 1.6% in July in the trade sector, by 3% in the manufacturing sector, and by 3.7% in the construction sector. According to the director of the Association of Georgian Banks, the lesser financing of legal entities is yet another indicator of a slow economic growth rate in the country. In June, the Georgian economy contracted by 1.8%.

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