Georgia's Economic Outlook 2020

1Q07 2Q07 3Q07 4Q07 4Q07 1Q08 8007 2Q08 3008 3Q08 8007 དང་༠༠ 100% 1Q09 2008 600Z REAL ESTATE PRICE INDEX 180 160 Inflation adjusted real estate price index (2010-100, GEL) Real wage index (2010=100, GEL) 140 120 100 80 60 40 300° 3Q09 60077 OLOL 1010 2010 2Q10 3010 3Q10 4Q10 1011 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 GROWING ECONOMY SUPPORTS HEALTHY CREDIT GROWTH 64 BANKING SECTOR CORPORATE & RETAIL LOANS MORTGAGE LOANS Source: NBG TO GDP Source: NBG, Geostat 106,370 107,840 7,711 70% 7,048 92,980 Retail loans to GDP 6,031 60% 72,140 31,720 31,420 Corporate loans to GDP 50% 35% 35,990 4,315 33% 5,062 4,453 33% 32,680 40% 27% 30% 4,604 23% 74,650 76,420 30% 20% 3,350 17% 56,990 11% 12% 13% 20% 2,595 2,649 39,470 10% 17% 17% 18% 19% 21% 26% 24% 25% 27% 31% 35% 966 1,427 2017 2018 2019 1Q20 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20 FX-denominated mortgage loans, GEL mn ■GEL-denominated mortgage loans, GEL mn Total mortgage loans, GEL mn 2017 2018 2019 1Q20 Number of mortgage loans in FX Number of mortgage loans in GEL Total number of mortgage loans 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Source: NBG, Geostat

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