Russian President Vladimir Putin held a telephone conversation with Turkish President Recep Tayyip Erdogan on June 24, the Kremlin press service said. The situation involving Azerbaijan and Armenia was a central topic.

Annual inflation stood at 7.7 percent in May, up from 7.2 percent in April and beyond the 3 percent target. On monthly basis, consumer prices were up 0.7 percent in May from a month earlier after rising 0.9 percent in April.

The government and the World Bank were in talks over a $95 million loan and had planned to come to an agreement within two to three months.

Total income stood at 2.307 billion lari compared to 1.915 billion lari in January-May last year.