Gross domestic product (GDP) grew by 10.5 percent year-on-year in January-October after contracting 5.1 percent in the same period last year.

Commercial banks reported a total net profit of 1.969 billion lari ($637 million) from January to November compared to a loss of 1.4 million lari in the same period in 2020.

The growth forecast for the region was increased to 4.7 percent in 2021 from a previous projection of 4.1 percent in September.